Participation Costs

This trade mission is split into two parts, giving companies the flexibility to visit just one market or both markets and engage with the activity most valuable to their organisation.

South Korea
£2,500 – This cost includes all in market activity, use of the shared exhibition stand space and accommodation close to the KIMES exhibition.  TAP grants of £2,500 are available to eligible companies.

Japan
£770 – This cost includes all activity in Tokyo and support from DIT in market team.  Additional activity and an extension of the programme can be discussed individually if required.

*All travel arrangements must be made and paid for by the delegate (advice and support will be offered)
**TAP grants are available on a first come first served basis to eligible UK based companies
***All prices are exclusive of VAT

How to Join

Please register your interest by completing the online application form:
https://exporttojapan.co.uk/events/medtech-mission-to-kimes-south-korea-and-japan/

The deadline for expressing interest in this trade mission is Friday 18th January 2019.

For more information, please contact:
DIT Korea – Eunjung.lee@fco.gov.uk
DIT Japan – lifesciencetradejapan@mobile.trade.gov.uk
Medilink – t.elliott@medilink.co.uk
 

Why Go to Japan and South Korea? 

South Korea
The South Korean medical devices market is the 9th largest in the world, valued at valued at £4.4 billion. The market is continuously growing with CAGR of 6.3%. The healthcare system in the country is known to be high quality and efficient, with the Korean National Health Insurance System (KNIS) providing near universal healthcare coverage to the population of 51 million. Relatively high consumption of alcohol and tobacco, plus increasingly sedentary lifestyles and an ageing population means Korea faces a growing burden of non-communicable disease and is reliant on new technologies to keep up with the population’s needs.

Korea has a lot of opportunities for UK companies, particularly for products using cutting edge technology in digital health, orthopaedics, wound care, dental, ophthalmic products and elderly care. Local firms and hospitals have expressed interest in products such as dental implants, ultrasound imaging systems, grafts/prostheses, biomaterials, and PACS. There is a strong appetite for UK products, with the UK ranking as 7th in the list of biggest importers to Korea in 2016.

Japan
Japan’s medical devices and healthcare market offers business opportunities for innovative British companies. It is the second largest medical devices market after the US with a large number of hospitals. It offers universal access and national healthcare services, and the world’s highest life expectancies. Premium pricing is also available for healthcare innovations. Japan’s medical devices market, valued at over £20 billion, heavily relies on imports, especially for therapeutic devices, which consist of nearly 50% of the total domestic sales volume. The UK is ranked as the 8th largest exporter of medical devices to Japan. Also, since the revision of the Pharmaceutical and Medical Devices Act in 2014, regulations on medical devices have been modified to allow faster and easier access to the Japanese medical devices market. Japan’s approval process is now roughly equivalent to the US.

Japan offers a great opportunity for UK companies involved in the development of innovative medical technology, particularly in the following areas: artificial internal organ apparatus and assistive devices, high tech operating equipment and supplies, ophthalmic goods, diagnostic imaging system; therapeutic and surgical equipment and home treatment equipment.