Throughout this medical market research, the publisher analyzed 16 orthobiologics companies in South Korea and utilized their comprehensive methodology to understand the Market Sizes, Unit Sales, ASPs, Company Market Shares, and to create accurate forecasts.
While this MedSuite report contains all of the South Korean Orthopedic Biomaterials market analysis, each of the market segments is also available as stand-alone MedCore reports. Additionally, this research includes an orthobiologics procedure volume analysis which can also be purchased as a separate report, MedPro.
Markets Covered
South Korean Orthopedic Biomaterials Marekt Insights
Surgical procedures that require the use of orthopedic biomaterials are generally associated with diseases and indications that become more prevalent in the population with an increase in age, such as osteoarthritis of the spine and knee. In 2019, approximately 15% of South Koreans were aged 65 and over; this proportion is projected to grow steadily over the forecast period, as further cohorts of baby boomers turn 65. Growth of this population is expected to stimulate growth across all segments of the orthopedic biomaterials market.
A lack of product differentiation across similar injection cycle products has led to commoditization, which has stifled innovation and the further development of new products. Similar to Japan, the prices of HA viscosupplementation products in South Korea have drastically decreased since their introduction and are among the lowest in the world.
Overall, the South Korean orthopedic biomaterials market was valued at $141.6 million in 2019. This is expected to increase over the forecast period at a CAGR of 3.6% to reach $181.5 million.
While this MedSuite report contains all of the South Korean Orthopedic Biomaterials market analysis, each of the market segments is also available as stand-alone MedCore reports. Additionally, this research includes an orthobiologics procedure volume analysis which can also be purchased as a separate report, MedPro.
Markets Covered
- Procedure Volumes for the South Korean Orthopedic Biomaterials Devices – MedPro
- Orthopedic Bone Graft Substitute Market - MedCore
- Hyaluronic Acid Viscosupplementation Market - MedCore
South Korean Orthopedic Biomaterials Marekt Insights
Surgical procedures that require the use of orthopedic biomaterials are generally associated with diseases and indications that become more prevalent in the population with an increase in age, such as osteoarthritis of the spine and knee. In 2019, approximately 15% of South Koreans were aged 65 and over; this proportion is projected to grow steadily over the forecast period, as further cohorts of baby boomers turn 65. Growth of this population is expected to stimulate growth across all segments of the orthopedic biomaterials market.
A lack of product differentiation across similar injection cycle products has led to commoditization, which has stifled innovation and the further development of new products. Similar to Japan, the prices of HA viscosupplementation products in South Korea have drastically decreased since their introduction and are among the lowest in the world.
Overall, the South Korean orthopedic biomaterials market was valued at $141.6 million in 2019. This is expected to increase over the forecast period at a CAGR of 3.6% to reach $181.5 million.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cellumed
- LG Chem
- CG Bio
- Medtronic
- DePuy Synthes
- Sanofi
- Dong Kwang
- SeaSpine
- DongKook
- Shin Poong
- Hanmi
- Unimed
- HansBiomed
- Wright Medical
- JunYoung Medical
- Zimmer Biomet
