Artery Global: Immersive Medical Market Exploration Tour – Korea Edition
VCBeat
Internet Medical Health Media
2024,VCBeatThe China Medical Global Expansion Practice Camp will be launched, offering an immersive overseas study tour and on-the-ground consulting services for medical enterprises with unique innovative medical products that are looking to expand their markets. The Practice Camp will visit overseas markets including Indonesia, Russia, Brazil, South Korea, and Japan, helping a wide range of medical enterprises match with corresponding resources. The first stop of the Practice Camp has selected a developed, well-regulated, high-profit, and undervalued medical blue ocean—South Korea。
Clinical Medical Data and Regulatory Mechanisms Have Gained High International Recognition, Enabling the Accumulation of Mature Market Operational Experience
By 2022, Seoul had ranked first among global cities for clinical trials for three consecutive years; South Korea ranked fifth in the industry-sponsored clinical trial market share.
South Korea’s regulatory levels for domestically produced and imported drugs and vaccines are at2022reached in the yearWHO The Highest Level of Medical Product Regulatory OversightML4(Maturity Level 4)
World-leading medical facilities and services, welcoming innovation, with extensive health insurance coverage and high reimbursement rates
Three hospitals in Seoul, South Korea, ranked among the top 40 in the 2024 World’s Best Hospitals list—the highest number from any Asian market—earning acclaim for patient satisfaction, facility conditions, and resource allocation.
South Korea’s national health insurance covers nearly all residentsAverage Reimbursement Rate for Medical ProductsFor80%, the out-of-pocket payment ratio for residents is20%
The two countries will strengthen medical cooperation, as both have strong demand for overseas products and share cultural and geographic proximity.
South Korea’s healthcare expenditure as a percentage of GDP was nearly 1.5 times that of China (2020)
The South Korean medical device market in the past five yearsAverage annual growth rate exceeds8%, Chinese medical devicesMedical devices have generally increased their share of imports.
*Includes four nights’ accommodation at a four-star hotel in Seoul’s central business district, daily breakfast, dinner on the day of arrival, lunch and dinner from Day 2 to Day 4, interpretation services for main activities, and all transportation required for the aforementioned itinerary. International round-trip airfare is not included. Spaces are limited; registration will close once full.
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Lock in VCBeat, don’t miss out — “Global Expansion Destinations” Live Series: Korea Edition, coming hot on June 28!
The VCBeat App will host a session on June 28, 2024, at 16:00 Beijing Time, regardingMedical Global ExpansionSouth Korean MarketIn-Depth Live Sharing Session. Special GuestChris Lee (Li Xilie), Founder and CEO of VentureBlick, brings over 30 years of experience in the healthcare industry, having previously served as President of Medtronic Asia Pacific and President of Bayer Asia Pacific. He will provide an in-depth analysis of the characteristics, regulatory requirements, market size, and consumer behavior of the South Korean healthcare market.
Join us to explore together:Medical Globalization: Why Is South Korea the Optimal “Refueling Station”?
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