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South Korea Medical Devices Report Q2 2016, Business Monitor International

  • March 2016
  • -
  • Business Monitor International
  • -
  • 163 pages

Includes 3 FREE quarterly updates

BMI View: South Korea will be one of the slower growing markets within BMI's Asia Pacific region,although it will still outperform other mature markets such as Japan, New Zealand and Australia. Medicaldevice imports will come under further pressure from locally produced products in certain sectors.Although the domestic manufacturing industry remains fragmented, the number of producers has more thandoubled in recent years and domestic output will continue to see steady growth as South Korea seeks tofurther reduce its reliance on imported products, whilst boosting its share of the global market.

Latest Updates and Key Forecasts

- We forecast that the market will register a 2014-2019 CAGR of 5.2% in US dollar terms, taking the valuefrom USD5.4bn to USD7.0bn. The market will see low single-digit growth in 2015, with higher midsingledigit growth from 2016. South Korea will remain the third largest medical device market in theAsia Pacific (APAC) region behind Japan and China.

- We expect imports will see low to mid single-digit growth in US dollar terms in 2016. Import growth willbe higher in local currency terms as the Korea won continues to experience depreciatory pressure againstthe US dollar in the near term. Imports grew by 3.9% to USD3.1bn in 2015. We anticipate that the importshare of the market will continue to decline from around 55%.

Table Of Contents

South Korea Medical Devices Report Q2 2016, Business Monitor International
BMI Industry View 9
Table: Projected Medical Device Market, 2014-2019 9
Latest Updates and Key Forecasts 9
SWOT 10
Medical Device Market 10
Industry Forecast 12
Medical Device Market Forecast 12
Latest Updates 12
Structural Trends 12
Table: Detailed Medical Device Market By Product Area, 2009-2019 (USDmn) 14
Consumables Market Forecast 19
Latest Updates 19
Structural Trends 19
Bandages and Dressings 20
Suturing Materials 20
Syringes, Needles and Catheters 20
Other Consumables 20
Table: Consumables Market, 2009-2019 (USDmn) 21
Table: Consumables Market, 2010-2019 (USDmn, % Change) 22
Diagnostic Imaging Market Forecast 23
Latest Updates 23
Structural Trends 24
Electrodiagnostic Apparatus 24
Radiation Apparatus 26
Imaging Parts and Accessories 26
Table: Diagnostic Imaging Market, 2009-2019 (USDmn) 27
Table: Diagnostic Imaging Market, 2010-2019 (USDmn, % Change) 28
Dental Products Market Forecast 29
Capital Equipment 30
Instruments and Supplies 30
Table: Dental Products Market, 2009-2019 (USDmn) 31
Table: Dental Products Market, 2010-2019 (USDmn, % Change) 31
Orthopaedics and Prosthetics Market Forecast 33
Latest Updates 33
Structural Trends 33
Fixation Devices 34
Artificial Joints 34
Other Artificial Body Parts 34
Table: Orthopaedics and Prosthetics Market, 2009-2019 (USDmn) 35
Table: Orthopaedics and Prosthetics Market, 2010-2019 (USDmn, % Change) 35
Patient Aids Market Forecast 37
Latest Updates 37
Structural Trends 37
Portable Aids 37
Therapeutic Appliances 38
Table: Patient Aids Market, 2009-2019 (USDmn) 38
Table: Patient Aids Market, 2010-2019 (USDmn, % Change) 39
Other Medical Devices Market Forecast 41
Latest Updates 41
Structural Trends 41
Table: Other Medical Devices Market, 2009-2019(USDmn) 42
Table: Other Medical Devices Market, 2010-2019 (USDmn, % Change) 43
Annual Medical Device Imports 45
Table: Medical Imports By Product Area, 2010-2014 (USD000s) 48
Table: Summary Medical Imports By Product Area, 2010-2014 (Local Currency 000s) 49
Table: Top 20 Medical Device Suppliers, 2014 (USD000s) 51
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s) 52
Table: Detailed Medical Device Import Trends By Product Area, 2014 55
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s) 58
Monthly Medical Device Imports 61
Table: Monthly Medical Device Imports By Product Area, Year Ending December 2015 (USDmn) 61
Annual Medical Device Exports 62
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s) 66
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s) 67
Table: Top 20 Medical Device Destinations, 2014 (USD000s) 69
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s) 70
Table: Detailed Medical Device Export Trends By Product Area, 2014 73
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s) 76
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s) 79
Monthly Medical Device Exports 82
Table: Monthly Medical Device Exports By Product Area, Year Ending December 2015 (USDmn) 82
Industry Risk/Reward Index 83
Table: APAC Medical Device Risk/Reward Index, Q216 84
Market Overview 85
Medical Device Market Overview 85
Table: Medical Device Market, Key Ratios, 2014 85
Table: Medical Device Market By Product Area, 2014 86
Healthcare Overview 87
Health Status 87
Healthcare System 88
Healthcare Funding 89
Table: Medical Expenditure By Age Group, 2009-2014 (KRW100mn) 90
Healthcare Resources 91
Table: Inpatient Facilities by Type, 2008-2013 93
Table: Diagnostic Imaging Technology By Type, 2008-2013 (Units) 94
Table: Selected Diagnostic Imaging Technology By Provider, 2013 (Units) 95
Healthcare Activity 96
Healthcare Personnel 96
Key Healthcare Data 96
Table: Key Healthcare Data, 2010-2015 96
Industry Trends And Developments 99
Industry Trends and Developments 99
Table: Medical Device Imports, Leading Suppliers, 2010-2015 (USDmn) 100
Table: Medical Device Exports, Leading Destinations, 2010-2015 (USDmn) 101
Regulatory Development 106
Medical Device Regulations 106
Competent Authority 106
Regulations 106
Registrations 107
Market Vigilance 110
Medical Device Pricing and Reimbursement 111
Pricing 111
Reimbursement 112
Health Technology Assessment 114
Competitive Landscape 115
Domestic Medical Device Production 115
Table: Medical Device Production Trends (KRWbn) 2009-2014 115
Table: Medical Device Production By Broad Product Area, 2009-2014 (KRWbn) 116
Table: Medical Device Production By Broad Product Area, 2009-2014 (USDmn) 116
Table: Top 20 Medical Device Products By Category, 2009-2014 (KRWmn) 116
Table: Medical Device Production By Category, 2008-2012 (KRWmn) 117
Table: Medical Device Production By Category, 2008-2012 (USDmn) 119
Domestic Medical Device Manufacturing 122
Table: Medical Device Manufacturers, 2006-2014 122
Table: Medical Device Manufacturers By Company Size, 2014 123
Table: Medical Device Manufacturers By Output Value, 2014 123
Table: Medical Device Manufacturers By Region, 2014 124
Table: Top 20 Medical Device Manufacturers By Output Value, 2010-2014, KRWmn 125
National Medical Device Manufacturers 128
Corentec 128
Table: Corentec Key Financials, 2010-2014 (KRWmn) 128
Table: Corentec Revenues By Product Area, 2011-2014 (KRWmn) 129
CU Medical Systems 130
Table: CU Medical Systems, Key Financials, 2010-2014 (KRWmn) 130
Table: CU Medical Systems, Sales By Product Area, 2012-2014 (KRWmn) 130
Genoss 131
Hanshin Medical 132
JW Medical 132
Listem 133
Mediana 133
MegaGen 134
Osstem Implant 134
Table: Osstem Implant Key Financials, 2010-2014 (KRWmn) 135
Royal Medical 135
S M Medical 135
Samsung Medison 135
Table: Samsung Medison Key Financials, 2011-2014 (KRWmn) 137
Table: Samsung Medison Revenues By Product Area, 2011-2014 (KRWmn) 137
Sam Yang 138
Sewoon Medical 138
Table: Sewoon Medical Key Financials, 2010-2014 (KRWmn) 138
Table: Sewoon Medical Revenues By Product Area, 2011-2014 (KRWmn) 139
Shinhung 139
Table: Shinhung Key Financials, 2010-2014 140
Table: Shinhung Revenues By Product Area, 2011-2014 (KRWmn) 140
Sometech 141
Taewoong Medical 141
Vatech Group 141
Table: Vatech Key Financials, 2010-2014 142
Table: Vatech Revenues By Product Area, 2012-2014 (KRWmn) 143
Vatech Rayence 143
Wonju Medical Industry Techno Valley 144
Table: Wonju Medical Equipment Techno Valley, Key Statistics, 2005-2015 145
Table: Wonju Medical Equipment Techno Valley Selected Manufacturers 145
Multinational Medical Device Manufacturers 146
Becton Dickinson 146
Baxter Gambro 146
GE Healthcare 146
Siemens Ultrasound Systems Korea 147
Multinational Market Activity 148
Table: Multinational Activity Table, 2016 148
Medical Device Market Access 151
Market Environment 151
Distribution 151
Customs Duties 152
Free Trade Agreements 152
Trade Associations 153
Trade Fairs 153
Methodology 154
Forecast Methodology 154
Trade Code Classifications 155
Table: Rearranged HS Trade Codes 156
Risk/Reward Index Methodology 159
Table: Medical Devices Risk/Reward Index Indicators 160
Sources 162
Contact 163

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