Korea Medical Market

korea medical market

South Korea’s healthcare market is ranked fourth among countries in the Asia-Pacific region. The combination of increased insurance coverage, an aging population, and government initiatives to expand the healthcare market make South Korea a prime destination for Western medical companies looking to go abroad. Pacific Bridge Medical’s expert partners can assist medical device and pharmaceutical companies with finding intelligent solutions for all of their business development and regulatory issues in Korea.

Korea Medical Device Market Size

  • $5.5 billion
  • Projected Growth Rate: 6.2%

Korea Pharmaceutical Market Size

  • $23 billion
  • Projected Growth Rate: 2.4%

Korea Economic Statistics and Demographics

  • GDP (PPP): $2.2 trillion
  • Per Capita GDP (PPP): $40,111
  • Real GDP Growth Rate: 3.2%
  • Population (millions): 51
  • Ethnic Diversity: Very homogenous
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