Abstract
Imports supply around 70% of the Korean medical market, which has recovered
since the economic crisis. This report is ideal for executives wanting to
understand the key drivers in the medical market and have access to a wealth
of statistical data, including five-year market projections. Included with the
report are 3 free quarterly updated outlook reports, enabling you to keep up
to date with market developments for a year.
Korea' s medical device and equipment market has rebounded from the slump
following the financial crisis. After a few years of high ' catch-up' growth in
the region of 10% and more, making up for purchases previously put on hold,
market growth since 2003 has slowed slightly to around 8.0%. Imports, which
supply around 70% of the market, have recorded fairly consistent positive
growth, with the exception of 2004, where a marginal decline was recorded.
Annual average growth between 1999 and 2004 stands at around 15%.
Korea remains one of Asia' s most developed economies, with a universal
healthcare system, and plans to develop a modern welfare state. Korean
hospitals are generally well-equipped, and medical staff are highly trained.
The market has always been receptive to imported products, especially from the
USA. Despite some financial difficulties within the healthcare insurance
system, demand for these is rising and can be expected to continue.
This report comprises four main sections: Medical Device Market Outlook,
Background Data, Healthcare System, and Accessing the Medical Device Market.
The Outlook section provides analysis of the market and five-year forecasts by
technology category, national data projections and key market developments.
Other sections provide a wealth of background and market access information,
including population trends, morbidity and mortality, health expenditure,
organisation & administration, hospital services, ambulatory care, medical
personnel, trade data and essential industry contacts.
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