Healthcare & Medical Technologies in Korea

Healthcare & Medical Technologies in Korea

Healthcare & Medical Technologies in Korea

Over the last 60 years, the Korean health care system has improved, thanks to a fast-growing economic development, and is now equipped with a modern medical infrastructure, and highly educated human resources.

Korean elderly population accounted for 13% of the total population and is expected to reach close to 25% in 2030. The market for assistive technologies is expected to grow in line with the increasing life expectancy and the development of new services to cope with the aging population, especially since Koreans are expected to continue social and physical activities while growing old.

Korea has the world’s highest rate of cosmetic plastic surgery per capita, and accounts for about US$ 5 trillion of the US$ 21 trillion global market, therefore representing the biggest single market in this segment.

There are opportunities for European companies in the field of medical equipment technologies, especially artificial joint and orthopaedics, as well as self-diagnostics medical devices, which are expected to be in demand due to the ageing Korean population.
European companies can also find market opportunities in Korea in the high-tech dental products such as high quality dental implants, bone graft materials, orthodontic materials.

The full Healthcare & Medical Technologies market study on Korea, produced by EU Gateway | Business Avenues [1] with the financial support of the European Union is available to download here [2].

EU Gateway | Business Avenues is an EU funded programme that helps European companies establish long-lasting business relationships in Asia. Selected companies participate in a one week business mission, where they benefit from pre-arranged meetings with potential business partners, and the opportunity to showcase their products and technologies during a two-day exhibition. Before the business mission takes place, companies receive market intelligence, advice on approaching the market, and business coaching.

From 12-16 March 2018, EU Gateway | Business Avenues takes selected companies to Korea for a EU-funded business mission on Healthcare & Medical Technologies [3]. If your company meets the eligibility criteria, apply online [4] by 17 November 2017.

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