South Korea Medical Device Market Research Report 2017-2025

New York, USA, 2018-Oct-12 — /EPR Network/ —According to Goldstein Research, South Korea medical device market is expected to reach USD 5.0 billion by the end of 2025, growing at a CAGR of 6.1% over the forecast period, 2017-2025. High-quality, western-style medical and scientific infrastructure for clinical research at Korea’s leading hospitals with state-of-the-art facilities which are highly professional and efficient in conducting and supporting trials is propelling the growth of South Korea medical device market.

South Korea medical device market segmentation has been done on the basis of product type, the area of use, and end-user. In-vitro diagnostics (IVD) equipment dominated the South Korean medical device market and accounted for the market share of 35% in 2017 owing to a large number of ageing residents with multiple chronic health issues. It is driven by elderly population in Korea accounted for approximately 13% of the total population in 2015 and many local doctors are educated in the U.S. and Europe and are accustomed to using advanced medical devices from overseas. In 2017, total imports of medical devices were estimated at USD 3.0 billion, with U.S. imports totalling over USD 1.4 billion in South Korea.

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Market Segmentation

On the basis of our in-depth analysis, South Korea Medical Device Market can be segmented as follows:

By Product Type

  • Dental equipment and supplies
  • Electro-medical equipment
  • In-Vitro Diagnostics
  • Irradiation apparatuses
  • Surgical and medical instruments
  • Surgical appliances and supplies

By Area Of Use

  • Inpatient Care
  • Outpatient Care
  • Special Areas
  • Patient Self-Monitoring
  • Relative Medical Indication

By End User

  • Hospitals
  • Clinics
  • Diagnostic Labs
  • Homecare Settings

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“South Korea Medical Device Industry Analysis” contains a detailed overview of the South Korea medical device market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, the area of use, end-users and geography.

The industry research reports highlight the in-depth analysis of medical device market report that will help the clients to assess their business strategies as per the competitive environment in the market space. The competitive outlook of major South Korea players discussed in the South Korea medical device market report includes business strategies, revenue distribution, financial analysis, product portfolio, R&D activities and investments.

Major players of the South Korea medical device market discussed in the report are: Johnson & Johnson, Philips Healthcare, Medtronic Inc., GE Healthcare, Siemens AG, Novartis AG, Stryker Corp., 3M Company, Abbott Laboratories, Toshiba Corp., Becton, Dickinson and Co., Baxter International Inc., Cardinal Health Inc., Boston Scientific Corp., Allergan Inc., Zimmer Biomet, Danaher Corp., DentsplySirona, Essilor International S.A., Covidien plc.,etc.

Further, The market research Report encompasses the major trends & opportunities, market dynamics and other growth factors of the market. The South Korea Medical Device Market Share also comprises key challenges, risk analysis, BPS analysis, SWOT Analysis and Market Attractiveness. The report also highlights the expert analysis to provide a complete overview of the market including the PESTLE analysis of each region and country.

About Goldstein Research

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts.

Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on healthcare industry analysis reports helping various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the rigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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