AI and Robotics Transform Medical Device Market... KOTRA Hosts 'Medical Device Export Consultation'

From AI Diagnostics to Surgical Robots, Drawing Global Interest
K-Medical Targets the Market with Digital Healthcare
On-site Export Contracts Total 40 Million Dollars

To participate in the Medical Device Export Exhibition and Consultation (GMEP) organized by the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA), a record number of buyers—176 companies from 50 countries—visited Korea. In particular, this exhibition showcased devices utilizing AI (artificial intelligence), robotics, and digital technologies, which drew explosive interest from both domestic and international buyers.

KOTRA announced on March 22 that this exhibition was held in conjunction with Korea’s leading medical device trade show, the Korea International Medical & Hospital Equipment Show (KIMES), at COEX over two days starting March 19. Now in its 13th year, this year’s GMEP attracted 370 domestic companies and 176 overseas buyers, reflecting the growing interest in Korea’s strengths in AI, robotics, and digital applications within the medical device sector.

According to KOTRA, there is increasing attention on K-medical devices as the application of medical devices has recently expanded beyond diagnosis and treatment to include prevention and management, beauty, and rehabilitation—areas that integrate ICT (information and communication technology). KOTRA also explained that medical devices incorporating ICT technology garnered significant attention at the world’s two leading ICT exhibitions, CES and MWC, held in January and March this year. Last year, exports of K-medical devices reached 6 billion dollars, a figure that has doubled over the past decade.

From March 19th for two days, a record number of buyers from 176 companies across 50 countries came to South Korea to participate in the medical device export exhibition and consultation event (GMEP) hosted by the Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA) at COEX. KOTRA.

To capitalize on these opportunities, KOTRA collaborated with eight organizations, including the Korea Medical Devices Industry Association and the Korea Medical Devices Cooperative, to host one-on-one export consultation meetings, an innovative medical device showcase, open innovation sessions for global technology partnerships, and export contract ceremonies. In particular, to assist companies facing export challenges due to the situation in the Middle East and other regions, KOTRA established a "Middle East Emergency Response Desk" and provided in-depth consulting at seven overseas K-Bio Desks in cities such as Frankfurt and Osaka, supporting companies with regulatory approvals and the search for alternative export markets from multiple angles.

At the event, Korean companies concluded more than 2,000 consultations with buyers from countries including Germany, Australia, Brazil, and Vietnam, resulting in export contracts worth a total of 40 million dollars on-site alone. This outcome represents a 49% increase compared to the previous year.

During the export consultations, buyers consistently expressed interest in K-medical devices that combine high quality and reasonable pricing with ICT technologies. The first group of buyers, accounting for 60% of those who visited, came from the Global South, including Latin America, the CIS, and Southeast Asia, and demonstrated strong interest in medical modernization. The CEO of RAYOS PIMAX, a leading Argentinian manufacturer of diagnostic imaging equipment, stated, "Korean companies can be the ideal partners for building our country's modern medical infrastructure," expressing a clear intention to introduce innovative K-medical devices.

The second group consisted of global companies seeking to develop advanced medical devices by leveraging Korean innovative technologies. KOTRA organized a separate "Global Open Innovation" program and "Innovative Medical Device Showcase" targeting these companies. Prettl, a German global medical device company, visited Korea to explore technology partnerships in digital healthcare, holding discussions with 15 companies—including Werobotics (wearable robots), Curaco (patient care bidets), and Haga (AI-based vision assistance devices).

KOTRA President Kang Kyungsung said, "The integration of ICT technologies into the medical field and the expanding scope of their application are creating new opportunities for K-medical devices. We will identify the specific needs of buyers in each region and collaborate with domestic specialized institutions to ensure that medical devices become Korea's next leading export item, following consumer goods and pharmaceuticals."

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