Korea Medical Device Consulting

The medical device market in Korea is valued at about $4 billion. Demand for quality medical devices is led by high healthcare standards in Korea, as well as a gradually aging population in need of more medical treatments. International companies interested in expanding their medical device business in Korea can engage with an experienced PBM medical device consultant for assistance. PBM’s Korea medical device consultants have worked in a variety of medical consulting projects. PBM has helped international clients with business strategies, partner searches, component sourcing and market research in Korea.

There are about 1,800 medical device manufacturers in Korea. Some of these manufacturers are subsidiaries of larger Korean industrial conglomerates. Key medical devices manufactured by local Korean companies include imaging equipment, dental implants and surgery components, splints, as well as laser surgery apparatus.

Korea is also becoming a popular destination for plastic surgery. Plastic surgery services rendered in Korea include rhinoplasty, facial reconstruction and burn care, etc. With a pool of skilled Korean plastic surgeons, demand is rising for affordable plastic surgeries among local Koreans and foreigners. This has also driven the need for high-tech medical devices for plastic surgery in Korea.

Currently, more than 60% of Korea’s medical devices are imported. These imports are primarily from the US, Japan and Europe. International companies interested in expanding their medical device business into Korea can turn to PBM’s medical device consultants for professional guidance.

On the regulatory front, Korea’s Ministry of Health and Welfare (MOHW) is responsible for setting medical policies on the regulations and reimbursements of medical devices. Under the MOHW, the Korea Food and Drug Administration (KFDA) monitors the public safety of food, drugs, medical devices and radiological health in the country.

PBM’s Korea medical device consultants possess the industry expertise and a deep understanding of the Korean market and its regulations. We are a team of results oriented professionals who work with the highest standards to help our clients succeed. For inquiries on PBM’s Korea medical device consulting services, please contact us or view PBM’s publications to find out more about the Korean healthcare market.