SOUTH KOREA CARDIOVASCULAR MEDICAL DEVICES MARKET

INTRODUCTION

South Korea is one of the fastest growing markets for cardiovascular medical devices. The latest research shows that the demand for cardiac care procedures is increasing in Korea, due to the rising prevalence of cardiovascular diseases.

This, in turn, has propelled the growth of the cardiovascular medical devices market in the country. South Korea is known for its advance in medical technology and educational healthcare system, both of which have empowered and enabled it to lead the way in cardiovascular care.

Cardiovascular medical devices such as pacemakers, defibrillators, pacemaker analyzers, and pacemaker stimulators are common in South Korean hospitals. The availability of such products is increasing, as the South Korean government actively promotes medical technology to its citizens.

Additionally, the country boasts of well-developed healthcare infrastructure and physicians who are experienced in using such devices in clinical practice.

As a result, South Korean hospitals are tapping the potential of cardiovascular medical device manufacturers to offer advanced cardiac treatments and interventions to patients. 

Furthermore, the South Korean government has been providing subsidies and tax incentives to local manufacturers, which has led to a competitive market and more wide-spread adoption of cardiovascular medical devices.

Meanwhile, players in the market are focusing on product innovation and localization to drive the industry growth forward. South Korea remains a powerhouse in the medical device industry, offering several advantages to local and global players alike.

SOUTH KOREA CARDIOVASCULAR MEDICAL DEVICES MARKET SIZE AND FORECAST

The South Korea Cardiovascular Medical Devices market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

SOUTH KOREA CARDIOVASCULAR MEDICAL DEVICES MARKET RECENT DEVELOPMENT

The personal ECG device developed by medical AI company VUNO has been approved by the Ministry of Food and Drug Safety in South Korea. The portable medical equipment, known as Hatti Pro, only takes the user's pulse rate and transmits the information to a linked mobile app.  VUNO has been providing physicians and healthcare facilities with a variety of medical AI solutions.

With the most recent government certification, VUNO may now move closer to providing customers with AI medical equipment. Based on ECG data, which the company says has "high potential as a biomarker for various cardiovascular diseases," VUNO is expanding its medical AI business.

With the MFDS clearance in hand, the business is gearing ready to introduce its integrated health management brand, Hatti, with AI-powered home medical devices that assist in the early detection of chronic illnesses and everyday health management for consumers. Due to an ageing population, cardiovascular diseases (CVDs) are becoming more common in South Korea, where they rank second only to cancer in terms of cause of death.

They will do their hardest to lower cardiovascular disease mortality through our ECG data-based medical AI initiative and to support preventive therapy, which is the way that healthcare will go in the future. VUNO intends to introduce further AI-powered home medical devices in the future that can identify serious cardiac conditions.

To sell its AI medical solutions in South Korea and the rest of Asia-Pacific, VUNO has been obtaining regulatory clearances in recent months. For the exact assessment and screening of lung disorders, VUNO was able to obtain the government of South Korea's permission for VUNO Med Lung Quant, an AI-based lung CT quantification system. Additionally, it was granted MFDS clearance last year for VUNO Med Deep CARS, a medical device that analyses a person's risk of cardiac arrest using AI.

THIS SOUTH KOREA CARDIOVASCULAR MEDICAL DEVICES MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Cardiovascular Medical Devices are manufactured per annum in South Korea? Who are the sub-component suppliers in different regions?
2. Cost breakup of a South Korea Cardiovascular Medical Devices and key vendor selection criteria
3. Where are the Cardiovascular Medical Devices manufactured? What is the average margin per unit?
4. Market share of South Korea Cardiovascular Medical Devices market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture South Korea Cardiovascular Medical Devices in-house
6. key predictions for next 5 years in South Korea Cardiovascular Medical Devices market
7. Average B-2-B Cardiovascular Medical Devices market price in all segments
8. Latest trends in Cardiovascular Medical Devices market, by every market segment
9. The market size (both volume and value) of the Cardiovascular Medical Devices market in 2024-2030 and every year in between?
10. Production breakup of Cardiovascular Medical Devices market, by suppliers and their OEM relationship