The South Korean endoscopy devices market is witnessing a growth under relatively lower reimbursement rates and budget constraints that are forcing hospitals to provide greater importance to pricing of equipment and changing utilization patterns.Healthcare expenditure in South Korea is rising, especially in private healthcare, which translates into better healthcare provision and quality of services in the country. Uptake of new and advanced minimally invasive surgical systems are driven by patients’ and physicians’ preferences because of their advantages over open surgery, such as less complications, less pain, faster recovery, and shorter operating times, which translate into lower hospitalization costs and improved patient outcomes. In South Korea, private healthcare providers have been allowed to respond accordingly to the increase in demand for healthcare services, which has resulted in 94% of the hospitals in the country being privately owned.With an increase in chronic diseases, hospitals are expected to be overcrowded, requiring new equipment or procedures that can help reduce treatment time, or specific partnerships that can help reduce the burden on existing healthcare service providers. All these factors are expected to contribute to the increase in adoption of endoscopy devices in South Korea.

Key Market Trends

SD Visualization System segment is Anticipated to Grow with a Significant CAGR

First-generation of endoscopic SD camera has 1 or 3 chips and almost exclusively delivers an output to either a recording device or an analog monitor. Standard Definition (SD) signals in endoscopic cameras offer images in a 4:3 aspect ratio. These visualization systems are equipped with a charge coupled device (CCD) chips that generate a high pixel image, which is displayed in SD format. Current technological advances, like complementary metal-oxide-semiconductor (CMOS), and advancements in CCDs have resulted in smaller chips that make the endoscopic process easy and also aid in better resolution, thus, helping the growth of the SD market. SD camera systems are used in both 2D and 3D endoscopic devices.

Competitive Landscape

South Korea Endoscopy Devices market comprises of major market players and these players are moreover focusing on research and development in order to form the stable and safe devices. The market has been noticing technological developments on a large scale for the past decade. Some of the market players are SOMETECH INC., SUNGYONG MEDITECH, KARL STORZ, Medex Worldwide, TECHCORD Co., Ltd., Fujifilm Holdings, PENTAX Medical, Olympus Corporation e.t.c amongst others

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client’s requirements
  • 3 months of analyst support