South Korea General Surgical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product and Application (Gynecology and Urology, Cardiology, Orthopedic, Neurology, and Other Applications)

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 6 %

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Market Overview

The major factors contributing to the growth of the general surgical devices market in South Korea include rising minimally invasive surgical procedures and technological advancements in the devices. Over the past decade, medical advancements such as robotics and non-invasive surgery have changed procedures in the operating rooms. Surgery in the past was not possible without the presence of a doctor to manually incise the patient’s skin. Over the years, the technology has developed further and recent medical advancements are even less invasive.The demand for minimally invasive surgery is increasing at a very high rate due to several factors that include higher accuracy rate with relatively reduced pain, and less infections. Thus, owing to the benefits associated with these surgeries, the adoption rate is increasing, which may drive the overall growth of market. 

Scope of the report

Surgical devices serve a specific purpose during surgery. Typically, surgical devices have generic use, while some specific tools are designed for specific procedures or surgeries. The scope of the report covers several market aspects of the surgical devices in relation to product and application.

By Product
Handheld Devices
Laparoscopic Devices
Electro Surgical Devices
Wound Closure Devices
Trocars and Access Devices
Other Products
By Application
Gynecology and Urology
Cardiology
Orthopedic
Neurology
Other Applications

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Key Market Trends

Handheld Devices Segment is Expected to Show Healthy Growth Over the Forecast Period

Based on Product, the market is segmented into Handheld Devices, Laparoscopic Devices, Electro Surgical Devices, Wound Closure Devices, Trocars and Access Devices and Other Products. Handheld devices are expected to register high growth, as they are widely used in surgical procedures. The number of minimally invasive surgical procedures is rising each year, and this is helping the market to grow. Handheld surgical devices are becoming increasingly advanced. The development of advanced devices, like robotic hand-held surgical device for laparoscopic interventions, enhances a surgeon’s dexterity. Many innovations have been made, due to the need for high reliability, accuracy, and patient safety. Furthermore, the growing aging population, and technologically advanced devices are accelerating the demand for advanced treatment approaches and is expected to witness rapid growth over the forecast period.

South Korea General Surgical Devices Market 1

Competitive Landscape

The market for general surgical devices in South Korea is moderately competitive and more companies are willing to expand in South Korea. The major players into the South Korea general surgical devices market are B. Braun Melsungen AG, Boston Scientific Corporation, Conmed Corporation, Johnson & Johnson, Getinge AB, Medtronic PLC, Olympus Corporation and Stryker Corporation.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Minimally Invasive Surgical Procedures

      2. 4.2.2 Technological Advancements in Devices

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Procedure

      2. 4.3.2 Stringent Regulations

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Handheld Devices

      2. 5.1.2 Laparoscopic Devices

      3. 5.1.3 Electro Surgical Devices

      4. 5.1.4 Wound Closure Devices

      5. 5.1.5 Trocars and Access Devices

      6. 5.1.6 Other Products

    2. 5.2 By Application

      1. 5.2.1 Gynecology and Urology

      2. 5.2.2 Cardiology

      3. 5.2.3 Orthopedic

      4. 5.2.4 Neurology

      5. 5.2.5 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 B. Braun Melsungen AG

      2. 6.1.2 Boston Scientific Corporation

      3. 6.1.3 Conmed Corporation

      4. 6.1.4 Johnson & Johnson

      5. 6.1.5 Getinge AB

      6. 6.1.6 Medtronic PLC

      7. 6.1.7 Olympus Corporation

      8. 6.1.8 Stryker Corporation

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The South Korea General Surgical Devices Market market is studied from 2018 - 2026.

The South Korea General Surgical Devices Market is growing at a CAGR of 6% over the next 5 years.

B. Braun Melsungen AG, Boston Scientific Corporation, Johnson & Johnson, Medtronic PLC, Stryker Corporation are the major companies operating in South Korea General Surgical Devices Market.

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