south korea pharma and medical device companies
TRANSCRIPT
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A Bold Plan for Global ExpansionAn excerpt from On fast-forward: Accelerating the pace of global expansion for South Korea’s healthcare companies
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What will it take for South Korea to reach its
aspiration of becoming a top-seven global powerhouse for
pharmaceuticals and medical devices by 2020?
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2009 2014 20200
5
10
15
20
25
W1.7trn(US$1.5bn)
W3trn(US$2.7bn)
W13.5trn target(US$12.2bn)
1.8W2.4trn
(US$2.2bn)
W23trn target (US$20.8bn)
Exports (W trn)
W1.8trn (US$1.6bn)
Ambitious overseas growth targets that eclipse historical growth trends of South Korean healthcare companies signal the need for game-changing strategies.
CAGR 45.4%
CAGR 6.7%
CAGR 28.6%
CAGR 12.2%
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3big questions underlie strategic manoeuvres for South Korean healthcare companies to deliver on growth.
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1.
Where can South Korean healthcare companies find the right market opportunities?
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The pattern of South Korean expansion into global healthcare markets reflects emerging opportunities in numerous product and market segments to drive growth.
Latin AmericaCentralised diagnostic equipment
US, EuropeBiosimilars
South-east Asia Imaging equipment, higher-quality healthcare services in private hospitals
ChinaMolecular diagnostics, premium healthcare services in private hospitals
JapanBiosimilars, regenerative medicine
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2.
What similarities and connections exist between different markets for companies to devise a more unified strategy?
In South-east Asia, countries such as Indonesia, the Philippines and Vietnam have similar healthcare needs and similar levels of healthcare development.
New Korean hospitals established in the Korea Medical Belt, a trans-Asian medical export belt linking China, Russia, Mongolia, Central Asia, Middle East and South-east Asia can support greater use of pharmaceuticals and medical devices in the region.
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3.
What market opportunities should companies focus on? How should companies prioritise their expansion efforts?
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Visithttps://goo.gl/7B3nK9to download the full
report.