Matej Mikulic
Research expert covering health, pharma & medtech
Medical technology in South Korea - statistics & facts
Medical technology (MedTech) is a vital part of the medical field, aiding in all areas from prevention to diagnostics to treatment. The domestic market for medical devices, which are an instrumental part of the medical technology industry, was valued at around 10.7 trillion South Korean won in 2023. Alongside the growing domestic market, the number of medical device manufacturers has also been steadily increasing over the past decade. With the beginning of the coronavirus (COVID-19) pandemic, the industry saw a rise in domestic and international demand for various medical devices.
