5. Opportunities for Swiss SMEs. 5.1 Overview th
Switzerland is the 5 exporter to Korean medical device market, however, its market share within imported products is relatively small with 4.7%. The major exporting products from Switzerland to Korea are dental materials and orthopedic goods. Top 3 exporting products accounts 53.8% of total Swiss export, and top 30% exporting companies are taking up 90% of total export. This indicates that Switzerland’s export to Korea is limited to certain companies. This chapter reviews Swiss companies who have presence in Korean medical device market, and presents future strategy to these companies. The chapter also elaborates on considerable facts for more Swiss companies to enter into Korea, and most prospective products for Swiss companies to export to Korea.
5.2 Swiss companies in Korean Medical Device Market4 5.2.1 Korean Medical Device Market Size & Swiss Medical Device Export to Korea Category Korean Medical Device Market Size Domestic Sales Imports Other countries Switzerland
Value(USD) 3,375,296,214 1,109,460,699 2,265,835,515 2,158,517,351 107,318,164
Ratio 100% 32.9% 95.3% 4.7%
67.1%
Source: KFDA Statistics, 2010
The imported devices dominate 67.1% of total Korean medical device market (as of 2010), among them Swiss th products’ (ranking of the 5 ) market share is 4.6%, which is relatively small compared with countries such as the US st (ranking 1 ) with 41.65%.
5.2.2 Korea’s Medical Device Import Value and Amount by Product Classification Import Value Ratio (%)
Import Amount
Class 1
17,045,815
15.9
1,171,410
9.1
Class 2
35,107,836
32.7
10,789,881
83.8
Class 3
28,814,846
26.8
754,644
5.9
Class 4
26,349,667
24.6
149,533
1.2
total
107,318,164
100
12,865,468
100
class
Source: KFDA Statistics, 2010
4
Source: KFDA Statistics, 2010
56
Import Amount
Import Value (USD)
| Medtech Industry in Korea
Ratio (%)