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South Korea Aesthetic Devices Market – Growth, Trends, and Forecast (2019 – 2024)

Healthcare Published by: Mordor Intelligence Market: Korea (South)
69 pages Published: 16-07-2019
  • Healthcare
  • Mordor Intelligence
  • Korea (South)
  • 69 pages
  • Published: 16-07-2019

Market Overview

 

The major factors attributed to the growth of the South Korean aesthetic devices market are the rise of medical tourism in South Korea, technological advancement in devices, and an increasingly obese population.

 

The low cost of medical aesthetic services and treatment, compared to countries like the United States, Japan, and China, is one of the key drivers for the growth in this market. According to the estimates of the World Bank, in 2015, there were 13,232,000 arrivals in South Korea for medical tourism, and the number was increased to 17,242,000 arrivals in 2016. Korea Tourism Organization reported that there has been an increase in medical tourists pursuing plastic surgeries, like breast augmentation surgery, liposuction, facelifts, and others. South Korea has the highest rate of cosmetic surgeries in the world. This increasing trend is definitely going to boost the market for medical aesthetic devices in the country. Majority of the medical tourists in South Korea are from China, the United States, Russia, Japan, and Mongolia. Generally, a facelift surgery in the United States costs around USD 10,000- 12000, whereas in South Korea, it is nearly USD 2000–3000. Thus, owing to the rise of medical tourism in South Korea, the market is expected to witness a healthy growth over the forecast period.

 

 

Scope of the Report

 

As per the scope of the report, the South Korean aesthetic devices market is inclusive of medical devices that are used for various cosmetic procedures, including plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc., used for the beautification, correction, and improvement of the body. The market is segmented by product and end user.

 

 

Key Market Trends

 

Facial Aesthetics Devices Segment under Product Type is Expected to Account for the Fastest Growth during the Forecast Period

 

Aesthetic procedures are extremely popular in South Korea, a country known to host the highest number of aesthetic procedures per 1,000 people than any other country in the world. In the South Korean society, facial features have foremost importance than all other physical features. Male or female, both undergo cosmetic surgeries to enhance their looks. Young women, especially, are known to opt for various types of look enhancement procedures. Facelift, eyelid enhancement, face fat reposition, jaw bone reduction, chin implants, etc. are the most common facial feature enhancement procedures performed in South Korea. In 2014, nearly 450,000 procedures were performed in South Korea, which accounts for nearly 100 per 10,000 people of all ages. The market for aesthetic devices is expected to grow simultaneously with the growth in demand for these procedures.

 

 

Competitive Landscape

 

The South Korean aesthetic devices market consists of both major players as well as small companies. Most of the global market players are expanding their presence in South Korea through distributorships and partnerships. Some of the prominent players in the market are Allergan Inc., Alma Lasers, Bausch & Lomb Incorporated, Hologic Inc., Lumenis Inc., Sanuwave Health Inc., Sciton Inc., and Syneron Medical Ltd.

 

 

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

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The Rise of Medical Tourism in South Korea
4.2.2 Technological Advancement in Devices
4.2.3 Increasing Obese Population
4.3 Market Restraints
4.3.1 Social Stigma associated with Treatment
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Aesthetic Lasers and Energy Devices
5.1.2 Non-surgical Skin Tightening Devices
5.1.3 Aesthetic Ophthalmology Devices
5.1.4 Laser Hair Removal Devices
5.1.5 Aesthetic Implants
5.1.5.1 Breast Implants
5.1.5.2 Other Implants
5.1.6 Facial Aesthetics Devices
5.1.6.1 Dermal Fillers
5.1.6.2 Microdermabrasion
5.2 By End User
5.2.1 Hospitals
5.2.2 Clinics and Beauty Centers
5.2.3 Other End Users

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allergan Inc.
6.1.2 Alma Lasers
6.1.3 Bausch & Lomb Incorporated
6.1.4 Galderma SA (Nestle)
6.1.5 Hologic Inc.
6.1.6 Johnson & Johnson
6.1.7 Lumenis Inc.
6.1.8 Sanuwave Health Inc.
6.1.9 Sciton Inc.
6.1.10 Syneron Medical Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION

 

 

By Product
Aesthetic Lasers and Energy Devices
Non-surgical Skin Tightening Devices
Aesthetic Ophthalmology Devices
Laser Hair Removal Devices
Aesthetic Implants
Breast Implants
Other Implants

Facial Aesthetics Devices
Dermal Fillers
Microdermabrasion

 

By End User
Hospitals
Clinics and Beauty Centers
Other End Users

 

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South Korea In-vitro Diagnostics Market – Growth, Trends, and Forecast (2019 – 2024)

Healthcare Published by: Mordor Intelligence Market: Korea (South)
68 pages Published: 16-07-2019
  • Healthcare
  • Mordor Intelligence
  • Korea (South)
  • 68 pages
  • Published: 16-07-2019

Market Overview

 

The South Korean in-vitro diagnostics market is expected to witness a CAGR of 5.4% during the forecast period. Certain factors that are driving the market growth include the high prevalence of chronic diseases, increasing use of point-of-care (POC) diagnostics, advanced technologies, and increasing awareness and acceptance of personalized medicine and companion diagnostics.

 

 

According to the Ministry of Health and Welfare, chronic illness accounts for the majority of ailments in South Korea, a condition worsened by the health care system’s focus on treatment relatively more than prevention. South Korean adults run the risk of chronic diseases due to an unhealthy diet, a report from a state-run agency showed. According to the “Public Health Weekly Report” published in 2018 by the Korea Centers for Disease Control and Prevention, Koreans eat much less than the recommended daily intake of nut and seeds, calcium, milk, vegetables, and fruits. On the other hand, they eat much more than the recommended amount of red meat, processed meat, and sugar-sweetened beverages.

 

 

Scope of the Report

 

As per the scope of this report, in-vitro diagnostics involve medical devices and consumables that are utilized to perform in-vitro tests on various biological samples. They are used for the diagnosis of various medical conditions, such as chronic diseases.

 

Key Market Trends

 

The reagent is Expected to hold its Highest Market Share in the Product Segment

 

The reagent segment of the market studied includes chemical, biological, or immunological components, solutions, or preparations intended by the manufacturer to be used during the in-vitro diagnosis process. Because of the high cost of many diagnostic platforms, it is common for manufacturers to lease equipment instead of selling technology outright to end users. In these arrangements, the lease is tied to contracts to purchase associated reagents or assays for the equipment over the life of the contract. Many diagnostic companies have an excess of 75% of sales from consumables, such as assays and reagents and such agreements guarantee the generation of cyclic revenues associated with the sale of reagents and other consumables.

 

Competitive Landscape

 

The South Korean in-vitro diagnostics market is highly competitive and consists of a number of major players. Companies like Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Danaher Corporation, Johnson & Johnson, Roche Diagnostics, Siemens Healthcare, Thermo Fisher Scientific Inc., among others, hold the substantial market share in the South Korean in-vitro diagnostics market.

 

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

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Prevalence of Chronic Diseases
4.2.2 Increasing Use of Point-of-care (POC) Diagnostics
4.2.3 Advanced Technologies
4.2.4 Increasing Awareness and Acceptance of Personalized Medicine and Companion Diagnostics
4.3 Market Restraints
4.3.1 Stringent Regulations
4.3.2 Cumbersome Reimbursement Procedures
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Technique
5.1.1 Histochemistry
5.1.2 Molecular Diagnostics
5.1.3 Hematology
5.1.4 POC Testing
5.1.5 Self-blood Glucose Testing
5.1.6 Immunochemistry
5.1.7 Other Techniques
5.2 Product
5.2.1 Instrument
5.2.2 Reagent
5.2.3 Data Management System
5.3 Usability
5.3.1 Disposable IVD Devices
5.3.2 Reusable IVD Devices
5.4 Application
5.4.1 Infectious Disease
5.4.2 Diabetes
5.4.3 Cancer/Oncology
5.4.4 Cardiology
5.4.5 Autoimmune Disease
5.4.6 Nephrology
5.4.7 Drug Testing
5.4.8 Other Applications
5.5 End Users
5.5.1 Academia
5.5.2 Laboratories
5.5.3 Hospitals and Clinics
5.5.4 Other End Users

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Becton, Dickinson, and Company
6.1.3 Bio-Rad Laboratories Inc.
6.1.4 Danaher Corporation
6.1.5 Johnson & Johnson
6.1.6 Roche Diagnostics
6.1.7 Siemens Healthcare
6.1.8 Thermo Fisher Scientific Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION

 

 

Technique
Histochemistry
Molecular Diagnostics
Hematology
POC Testing
Self-blood Glucose Testing
Immunochemistry
Other Techniques

 

 

Product
Instrument
Reagent
Data Management System
Usability
Disposable IVD Devices
Reusable IVD Devices

 

Application

Infectious Disease
Diabetes
Cancer/Oncology
Cardiology
Autoimmune Disease
Nephrology
Drug Testing
Other Applications
End Users

Academia
Laboratories
Hospitals and Clinics
Other End Users

 

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South Korea Minimally Invasive Surgery Devices Market – Growth, Trends, and Forecast (2019 – 2024)

Healthcare Published by: Mordor Intelligence Market: Korea (South)
65 pages Published: 15-07-2019
  • Healthcare
  • Mordor Intelligence
  • Korea (South)
  • 65 pages
  • Published: 15-07-2019

Market Overview

 

The major factors for the growth of the South Korean minimally invasive surgery devices market include the rising adoption of minimally invasive surgery in cosmetic surgeries, increase in medical tourism in South Korea, and technological advancements.

 

– The major factor driving the growth of the South Korean minimally invasive surgery devices is rising adoption of minimally invasive surgery (MIS) in various aesthetic procedures.


– Minimally invasive surgeries (MIS) cause less post-operative pain, and hence, patients receive smaller dosages of pain killers. As there are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to a quicker recovery.


– Furthermore, there is a rising technological advancement, which is boosting the overall growth of the market in South Korea. According to the estimates of the International Society of Aesthetic Plastic Surgery (ISAPS), South Korea was ranked third in the world, in terms of a number of plastic surgeons (2,330) in 2016.


– Additionally, over the past decade, the surgical approach toward the treatment of thoracic disease has shifted to minimally invasive surgery in South Korea.


– Thus, owing to the all aforementioned factors the market is expected to witness healthy CAGR over the forecast period.


Scope of the Report

 

As per the scope of this report, minimally invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment, which are used during the minimally invasive procedure. The minimally invasive neurosurgery device market is growing at a significant rate, due to various benefits associated with minimally invasive procedures, such as less recovery time, minimal pain to the patients, shortened hospital stay, and high accuracy. The South Korean minimally invasive surgery devices market is segmented by products and application.

 

Key Market Trends

 

The Aesthetic Segment is Expected to be the Fastest Growing Segment over the Forecast Period

 

Aesthetic procedures are extremely popular in South Korea, and the country performs the highest number of aesthetic procedures per 1,000 persons, as compared to any other country in the world. The country also has a booming medical tourism industry that is primarily focused on aesthetic procedures. Therefore, along with domestic demand, medical tourism for aesthetic surgeries also serves to be an additional source of revenue for this market. In the Korean society, face features are considered to be the most important of all physical features. Especially women, aged between 30-70 years, opt for various types of looks enhancement procedures. Facelift, eyelids enhancements, face fat reposition, jaw bone reductions, chin implants, etc. are the most common facial features’ enhancements performed in South Korea. Already one in every five women in Seoul undergoes some or the other kind of enhancement procedure. Most of the aesthetic procedures are performed with the help of minimally invasive devices in South Korea. The market for aesthetic devise may grow simultaneously with the demand for these procedures.

 

Competitive Landscape

 

The South Korean minimally invasive surgery devices market is moderately consolidated, owing to the presence of a few key players in the market. Many of the vendors are now focusing on investing significant resources in R&D to develop new innovative products in the market, in order to offer novel devices to treat patients and deliver high-quality and life-sustaining treatment. Some of the market players are Abbott Laboratories, GE Healthcare, Hologic Inc., Intuitive Surgical, Inc., Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers, and Smith & Nephew.

 

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

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Adoption of Minimally Invasive Surgery in Cosmetic Surgeries
4.2.2 Increase in Medical Tourism in South Korea
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Shortage of Experienced Professionals
4.3.2 Uncertain Regulatory Framework
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Handheld Instruments
5.1.2 Guiding Devices
5.1.2.1 Guiding Catheters
5.1.2.2 Guidewires
5.1.3 Electrosurgical Devices
5.1.4 Endoscopic Devices
5.1.5 Laproscopic Devices
5.1.6 Monitoring and Visualization Devices
5.1.7 Robotic Assisted Surgical Systems
5.1.8 Ablation Devices
5.1.9 Laser Based Devices
5.1.10 Other MIS Devices
5.2 By Application
5.2.1 Aesthetic
5.2.2 Cardiovascular
5.2.3 Gastrointestinal
5.2.4 Gynecological
5.2.5 Orthopedic
5.2.6 Urological
5.2.7 Other Applicatons

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 GE Healthcare
6.1.3 Hologic Inc.
6.1.4 Intuitive Surgical Inc.
6.1.5 Koninklijke Philips NV
6.1.6 Medtronic PLC
6.1.7 Olympus Corporation
6.1.8 Siemens Healthineers
6.1.9 Smith & Nephew
6.1.10 Zimmer Biomet

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

MARKET SEGMENTATION

 

 

By Product
Handheld Instruments
Guiding Devices
Guiding Catheters
Guidewires
Electrosurgical Devices
Endoscopic Devices
Laproscopic Devices
Monitoring and Visualization Devices
Robotic Assisted Surgical Systems
Ablation Devices
Laser Based Devices
Other MIS Devices

 

By Application
Aesthetic
Cardiovascular
Gastrointestinal
Gynecological
Orthopedic
Urological
Other Applicatons

 

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SOUTH KOREA RETAIL SECTOR – GROWTH, TRENDS AND FORECAST (2019 – 2024)

NEO Published by: Mordor Intelligence Market: Korea (South)
152 pages Published: 07-06-2019
  • NEO
  • Mordor Intelligence
  • Korea (South)
  • 152 pages
  • Published: 07-06-2019

Market Overview

 

The South Korean retail industry is one of the largest markets among the Asian countries. Modern retail businesses, such as hypermarkets, grocery supermarkets, convenience stores, and online retailing, has rapidly grown over the years, in comparison to that of traditional retail outlets, comprising street markets and family-operated small retailers.

 

 

Although the South Korean economy is expected to grow slowly during the forecast period, retailing is estimated to register positive sales growth, owing to the significant rise in internet retailing, aggressive marketing, and promotional activities from major retailing companies

 

However, the introduction of a number of shopping malls, with elegant restaurants, trend-setting brands, cutting-edge multiplex movie theaters, and high end supermarkets led to a change in consumer life style, and this change is leading to a more advanced retail experience in South Korea.

 

 

Scope of the Report

 

A complete background analysis of South Korea retail Industry, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and market overview is covered in the report

 

 

Key Market Trends

 

Retailers Embrace Digital Strategies to Engage Customers

 

Increasing number of local retailers have drawn on digital technologies to provide better shopping experience for customers. As a case in point, Lotte has launched a new smart shopping service “Smart Shopper” at its food stores of Lotte Department Store Bundang branch. The new service, which replaces the physical shopping carts, allows customers to shop by just scanning the bar codes of products with a shopper handheld scanner device provided in store.

 

Customers can complete the payment at dedicated self-checkout terminals by tapping the handheld device against NFC readers and after the payment, they can have their purchases delivered home.

 

Another major retailer Hyundai Department Store has also introduced a quick search service “Smart Finder”, with which shoppers can find their desirable products quickly at Hyundai’s online store. Smart Finder can analyze the designs, colors, and patterns of the products, in the photos uploaded by shoppers and recommend similar products, saving up to 50% on searching time. New convenience formats and themes are driving the growth of modern trade, while hypermarkets look forward to retain relevance by remodeling low performance stores into wholesale formats.

 

 

South Korea Is One Of The World’s Most Exciting Beauty Markets

 

South Korea is one of the world’s most exciting beauty markets. New beauty trends and innovations, featuring sophisticated ingredients and aesthetically appealing packaging are constantly on display. South Korean-branded cosmetics labels have earned popularity, particularly within Asia, with the rise of the country’s cultural presence, otherwise known as “hallyu,†and continue to attract image conscious local consumers and foreign tourists.

South Korea is one of the world’s most exciting beauty markets with new beauty trends and innovations that feature sophisticated ingredients and aesthetically appealing packaging are constantly on display.

 

In retail, South Korean consumers purchase beauty and personal care products not only from online retailers, but via home shopping and door-to-door sales opportunities, also in flagship stores, department stores, health and beauty stores, duty-free shops, aesthetic salons, and medical institutions, and pharmacies, among others. Facial skincare holds for more than half (51%) of the total market share in retail sales and projected at 5.2% CAGR over the next five years.

 

 

Competitive Landscape

 

The report covers major international players operating in the South Korean retail sector. In terms of market share, few of the major players currently dominate the market. However, with factors, such as, technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

 

 

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

Table of Contents

          1. Introduction

               1.1 Key Deliverables of the Study

               1.2 Study Assumptions

               1.3 Research Methodology

          2. Scope of Study

          3. Market Insights

               3.1 Market Overview

               3.2 Customer Behavior Analysis

               3.3 Industry Attractiveness – Porter’s Five Forces Analysis

          4. Market Dynamics

               4.1 Drivers

               4.2 Restraints

               4.3 Opportunities

               4.4 Industry Value Chain Analysis

          5. Technology Snapshot

          6. Market Segmentation

               6.1 BY PRODUCT CATEGORY

                      6.1.1 Food and Beverage and Tobacco Products

                      6.1.2 Personal Care and Household

                      6.1.3 Apparel, Footwear, and Accessories

                      6.1.4 Furniture, Toys, and Hobby

                      6.1.5 Industrial and Automotive

                      6.1.6 Electronic and Household Appliances

                      6.1.7 Pharmaceuticals, Luxury Goods, and Other Products

               6.2 BY DISTRIBUTION CHANNEL

                      6.2.1 Hypermarkets, Supermarkets, and Convenience Stores

                      6.2.2 Specialty Stores

                      6.2.3 Department Stores

                      6.2.4 E–Commerce

                      6.2.5 Other Distribution Channels

          7. Company Profiles

               7.1 Lotte Holdings Corporation Limited

               7.2 Everyday Retail Company Limited

               7.3 Hyundai Home Shopping Network Corp

               7.4 Mega Mart Co.  Ltd

               7.5 Shinsegae Department Co. Ltd

               7.6 7-Eleven

               7.7 E-Mart Inc.

               7.8 Costco Wholesale Korea  Ltd

               7.9 Homeplus Co.  Ltd

               7.10 Grand Department Store Co. Ltd

          8. Investment Analysis on the South Korea Retail Sector  

          9. Future of the South Korea Retail Sector 

Market Segmentation

  •           Market Segmentation

                   BY PRODUCT CATEGORY

                          Food and Beverage and Tobacco Products

                          Personal Care and Household

                          Apparel, Footwear, and Accessories

                          Furniture, Toys, and Hobby

                          Industrial and Automotive

                          Electronic and Household Appliances

                          Pharmaceuticals, Luxury Goods, and Other Products

                   BY DISTRIBUTION CHANNEL

                          Hypermarkets, Supermarkets, and Convenience Stores

                          Specialty Stores

                          Department Stores

                          E–Commerce

                          Other Distribution Channels

  •  
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