South Korean Endoscopy Devices Market, Forecast to 2019
South Korean Endoscopy Devices Market, Forecast to 2019
Increasing Healthcare Expenditure and Focus on Improved Patient Outcomes Driving Market Growth
03-Jan-2018
Asia Pacific
Description
The South Korean endoscopy devices market is growing under relatively lower reimbursement rates and budget constraints that are forcing hospitals to provide greater importance to pricing of equipment and changing utilization patterns. In many South Korean hospitals, consolidated purchasing of endoscopy and laparoscopy equipment slows down procurement, as requirements have to be gathered from all departments.
Healthcare expenditure in South Korea is growing, especially in private healthcare, which translates into better healthcare provision and quality of services in the country. Demand for outpatient healthcare services in top general hospitals remains high and hospital establishments continue to grow in line with the increasing number of hospital beds.
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. Thus, increasing demand for outpatient services by patients is increasing the number of outpatient services in private settings. This, in turn, is increasing the number of minimally invasive procedures.
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 buying criteria for healthcare providers and physicians include: brand equity, wide range of applications, technology, and value for money. There is higher preference for endoscopic procedures among healthcare practitioners and patients, especially for general surgery and urology procedures, due to a high level of awareness about the benefits of these procedures.
In general, medical professionals tend to prefer 2D imaging systems to 3D imaging systems, owing to higher familiarity and ease of use. However, the country is witnessing increasing interest in robotic procedures for urology that can perform delicate surgeries more precisely. This trend is likely to have a high impact in the long term on the endoscopy devices market.
Table of Contents
Key Findings
Market Engineering Measurements
Scope and Segmentation
Methodology and Segmentation
Key Questions This Study Will Answer
Market Background
Overview
Healthcare Expenditure
Hospital Facilities
Hospital Facilities (continued)
Hospital Facilities (continued)
Physician
Physician Specialization
Hospital Procurement
Insurance
Insurance (continued)
Insurance (continued)
Disease Profile
Usage of Scopes in Major Surgeries
Market Drivers
Drivers Explained
Market Restraints
Restraints Explained
Market Engineering Measurements
Revenue Forecast
Revenue Forecast Discussion
Competitive Environment
Competitive Environment (continued)
Urology
Urology (continued)
Urology (continued)
Urology (continued)
Urology (continued)
Urology (continued)
General Surgery
General Surgery (continued)
General Surgery (continued)
General Surgery (continued)
General Surgery (continued)
Gynecology
Gynecology (continued)
Gynecology (continued)
Gynecology (continued)
Gynecology (continued)
Imaging Systems
Imaging Systems (continued)
Energy Systems
Energy Systems (continued)
Key Companies to Watch
Key Companies to Watch (continued)
Key Companies to Watch (continued)
Growth Opportunity 1: Private Labeling
Growth Opportunity 2: COE and Training
Growth Opportunity 3: Aged Care Solutions
Growth Opportunity 4: Cancer Treatment
Strategic Imperatives for Success and Growth
Legal Disclaimer
List of Abbreviations
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
The Frost & Sullivan Story
Value Proposition—Future of Your Company & Career
Global Perspective
Industry Convergence
360º Research Perspective
Implementation Excellence
Our Blue Ocean Strategy
No Index | No |
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Podcast | No |
Author | Brahadeesh Chandrasekaran |
Industries | Healthcare |
WIP Number | 9AB9-00-81-00-00 |
Is Prebook | No |