The market is dominated by foreign suppliers, as imports account for 51.5% of total market size in 2023. Investments drive market demand, with investments representing 48.2% of total demand in 2023. South Korea has the fourth largest market size for medical and surgical equipment regionally, with demand reaching USD9.0 billion in 2023. GE Ultrasound Korea Inc is the largest company in South Korea, generating 6.4% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 24.7% of total production value in 2023. The total number of companies increases in 2023, to 12,466 units. The costs of the industry increase by 0.7% in 2023, largely driven by rising labour costs. The industry’s profitability decreases and stands at 9.9% of production value in 2023, the 16th highest regionally. The industry’s exports share decreases in 2023 to 50.1% of total production output. With production value of USD7.1 billion, South Korea accounts for 6.7% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Medical and Surgical Equipment in South Korea: ISIC 3311. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Medical and Surgical Equipment in South Korea: ISIC 3311 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Pharmaceuticals and Medical Equipment is an aggregation of Pharmaceuticals, Medical and Surgical Equipment.
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