Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech

Korean medtech companies to get a boost from Medtronic

September 4, 2018 By Nancy Crotti

Medtronic touts Solitaire stent retriever dataMedtronic will help Korean medical device companies to do more business globally, the president of Medtronic Korea said during a conference in Seoul today.

“We are planning to concentrate more on Korean medical firms as the country has high-quality medical technology and highly developed engineering technology,” said Hurh Joon during a press conference at the InterContinental Seoul COEX hotel, according to a report by the Korea Times.

The South Korean government’s heightened attention to the medtech sector was another reason for Medtronic’s decision, Joon said.

Korean medtech firms need to expand their businesses overseas because “there is no slump in the medical business,” added Chris Lee, president of the company’s Asia Pacific Region.

“Korea has the world’s ninth largest medical device market but the technological superiority of Korean firms is not well known,” Lee said in the Korea Times report. “We highly recognized the potential of the Korean market so we held the conference here in Korea.”

Lee urged local Korean companies to start their business first in China and other Asian markets before venturing further abroad. Medtronic will help Korean firms to develop devices and set up joint ventures, among other assistance.

“The medical device market in the Asia Pacific region is estimated at $88 billion and is expected to grow to $133 billion by 2020 to become the world’s second-largest market following the U.S.,” Lee said. “I think it would be better for Korean firms to begin their businesses in China and other Asian countries because China has an enormous medical device market.”

Cosponsored by the Korea Trade-Investment Promotion Agency, the conference will focus tomorrow on building business networks between Medtronic officials based in Asia and Korean firms. Today, the company presented the latest trends in the global medical device market and know-how on inaugurating businesses overseas.

 

 

Related Articles Read More >

DermaSensor skin cancer MedTech Innovator DeviceTalks Boston
DermaSensor wins MedTech Innovator Mid-Stage Companies Pitch Event
Steris
Steris rises on Street-beating Q4, sets fiscal 2023 guidance
Product packaging for the Lucira combination COVID-19 and flu test
Lucira Health asks FDA for EUA on molecular at-home COVID/flu test
A portrait of AcuityMD co-founder and CEO Michael Monovoukas
Device commercialization platform AcuityMD raises $31M Series A to fund R&D engineer hiring

DeviceTalks Weekly.

May 13, 2022
Our Pre-Post-DeviceTalks Boston episode, also MedtronicTalks replay with Gastro CMO Austin Chiang
See More >

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Enewsletter Subscriptions

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • MedTech 100 Index
  • Medical Tubing + Extrusion
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertise With Us
  • Subscribe to Print Magazine
  • Subscribe to E-newsletter
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our DeviceTalks Tuesdays Discussion

Copyright © 2022 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech