Medtech Mission to KIMES – South Korea and Japan
Join the DIT Trade Mission to South Korea and Japan to gain insight into opportunities in these 2 markets, expand your business potential and cultivate a network of contacts within the Korean and Japanese Medtech industries.
Benefits of attendance:
- Exhibit at KIMES (14-17 March)
KIMES (Korea International Medical & Hospital Equipment Show) represents a unique opportunity within South Korea and the wider Asian region for companies looking to meet key commercial and clinical partners. Now in its 35th year, KIMES regularly attracts around 80,000 visitors from over 90 countries, including manufacturers, distributors, doctors and hospital management. The exhibition is growing annually, offering a wider-reaching conference programme and increasing opportunities for international exhibitors.
Participants will share a 36sqm UK pavilion, with communal meeting space, UK branding and individual company marketing displays. Hotel accommodation is also included in the package.
TAP grants are available for eligible companies through our partner Medilink.
- Market briefing at the British Embassy in Seoul
A briefing on the Korean market will be delivered by a local consulting firm, plus additional information from DIT and the Science and Innovation team in the British Embassy in Seoul.
- Networking Reception at the British Embassy in Seoul
Korean medical devices distributors, academics and relevant government affiliates will be invited to the reception.
- Seminar and networking event in Tokyo
Participants will have the opportunity to give a 10-15 minute presentation at a seminar at the British Embassy in Tokyo to an audience of over 50 representatives from key companies in the Japanese MedTech industry. Simultaneous interpretation will be provided for the audience and company profiles will be translated into Japanese. This will be followed by a networking reception.
- Market briefing at the British Embassy in Tokyo + local hospital visit
Presentation by a local regulatory consultant to give a market overview and tips for entering the Japanese market, followed by the opportunity to visit a Tokyo hospital.
- One to one meetings in Japan (optional):
Additional meeting arrangements outside of the trade mission in Japan is available under a separate DIT OMIS chargeable service upon request. NB: We will advertise for individual meeting opportunities to Tokyo seminar participants and arrange meetings when requested by Japanese audiences on the day alongside the seminar.
Meet with DIT trade officers in South Korea and Japan to learn about the market opportunities and business cultures.
|Sun 10th March||Arrive Narita Airport or Tokyo International Airport (Haneda)|
|Mon 11th March||AM: Market briefing and a hospital visit
PM: Seminar/networking event at the British Embassy in Tokyo
|Tues 12th March||Individual meetings in Tokyo (DIT Japan team to arrange under additional OMIS (Overseas Market Introduction Service) on request)|
|Weds 13th March||Travel to Seoul
Attend Market briefing and networking reception at the British Embassy in Seoul
|Companies not participating in KIMES can extend their stay in Japan, with individual meetings arranged by DIT under an additional OMIS.|
|Thurs 14th March||KIMES exhibition|
|Fri 15th March||KIMES exhibition|
|Sat 16th March||KIMES exhibition|
|Sun 17th March||KIMES exhibition
Depart for the UK (or Mon depending on flight schedules)
Why come 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’s medical devices and healthcare market offer 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.
This mission is split into two parts, giving companies the flexibility to visit just one market or both.
- South Korea:
£2500 (exclusive of VAT). 5 days programme in Seoul (market briefing and networking reception and 4 days of exhibiting at KIMES). Includes accommodation for 1 person near the exhibition venue for the duration of the event.
TAP grants of £2500 are available for eligible companies.
(*) Delegates will need to cover the cost of the return flight from the UK to Seoul and make their own booking.
£770 / company (exclusive of VAT) / for 1 day programme in Tokyo on 11th March.
NB Any other additional requirements (e.g. meeting arrangements in Tokyo/Osaka) will be discussed and provided under separate OMIS chargeable service.
(*) Delegates are responsible for making own booking and covering their airfare and accommodation costs.
How to attend:
Applications for this trade mission are now closed.
The DIT Life Sciences team will review and assess all applications and shortlist companies to attend the trade mission. The results will be notified to the applicant by the end of January.
- Flights from Haneda airport (in central Tokyo area) to Seoul takes approx. 2.5 hours.
- Travel between Tokyo and Osaka by bullet train takes 2.5 hours which costs approx £180. Bullet trains between Tokyo and Shin Osaka called “Nozomi” trains operate every 10 minutes.
- For travel advice in Japan, please see http://www.exporttojapan.co.uk/doing-business-in-japan/travel-essentials.
- For travel advice in Korea, please see: https://www.gov.uk/foreign-travel-advice/south-korea
- List of recommended hotels in Tokyo and Seoul will be provided.