'Enhancing K-Medical Device Competitiveness'... Opening of Domestic Medical Device Education and Training Support Center in Incheon

A support institution aimed at increasing the usage rate and improving the performance of domestically produced medical devices has opened in Incheon. On the 30th, Incheon City inaugurated the 'Incheon Metropolitan Domestic Medical Device Education and Training Support Center' at HLB Biostep Co., Ltd., a company located in Songdo.

The center was established through a consortium of Incheon Technopark, Gachon Gil Medical Center, Inha University Hospital, and HLB Biostep, with an investment of 18.8 billion KRW, and will operate for the next five years. The center supports education, training, and exhibition activities to enable domestic and international medical professionals, including specialists, to directly use domestic medical devices and proceed to actual purchase.

The medical device industry is a promising future industry with high growth potential. In 2021, the global medical device market size reached 454.2 billion USD and is estimated to reach 663.7 billion USD by 2026. In addition to a high annual growth rate of 7.9%, the industry has significant job creation effects due to forward and backward industrial linkages, small-lot multi-product production, continuous user education, and after-sales service demands.

However, the domestic market share of Korean medical devices is 37.9%, with a high import ratio for technologically advanced devices such as MRI and stents, and a noticeable tendency to avoid using domestic products in general and tertiary hospitals.

Medical devices, which are closely related to life, tend to favor products with high brand recognition and familiarity when purchasing. Even if the quality is excellent, lack of user experience often leads to a lower evaluation of quality stability. This is why global medical device companies invest enormous funds in demos and user experiences.

Domestic Medical Device Training Support Center
Photo by Incheon City

Despite spending huge research and development (R&D) budgets to complete development, domestic medical device companies often face situations where medical staff have no experience using their products or are unaware that domestic products exist. The medical device market is conservative, where the first-used product tends to dominate, so the industry voices the need to expand the use experience of domestic products starting from the physician training process.

The metropolitan domestic medical device training center will serve as a training center, the most lacking part of domestic medical devices. Through education and training for users, practical experience, and product evaluation, it will secure the accuracy and reliability of domestic medical devices and further expand services based on domestic company demands.

Moreover, the center plans to enhance the global competitiveness of domestic medical devices by creating an industrial ecosystem for expanding overseas markets, supporting approvals, and implementing phased development plans including center self-sufficiency.

As of the end of last month, there are about 4,300 medical device companies producing in Korea, with 180 companies located in Incheon, accounting for 4.2% nationwide. Incheon City plans to promote the development of Incheon medical device companies by operating the metropolitan domestic medical device education and training support center, encouraging the relocation of medical companies through clinical infrastructure provision, and establishing itself as the leading bio-industry city through active support and investment.

Yoo Jeong-bok, Mayor of Incheon, said, "Incheon is the world’s number one city in biopharmaceutical production capacity and stands out most in the pharmaceutical and bio industries, but it has just taken its first steps in the medical device field. If we utilize the long experience and solid bio-industry infrastructure gained from the pharmaceutical and bio industries, we can create good synergy in the medical device industry as well."

This content was produced with the assistance of AI translation services.