Of the Asian geographies regarded as prominent global marketplaces for emerging medical technology, South Korea continues to establish itself as a leader across many procedural areas and market sub-segments. With the excitement created by Johnson & Johnson’s acquisition of Shockwave Medical, LSI’s medtech market research team conducted a deep-dive into the interventional cardiology procedure volumes in South Korea and the top medical device companies in the region.
Interventional cardiology refers to a specific subset of cardiology that involves non-surgical procedures performed on the heart. These procedures are minimally invasive, utilizing catheters to diagnose and treat various heart diseases. A staple intervention in this field is Percutaneous Coronary Intervention (PCI), a non-surgical procedure in which a catheter is used to place a small stent structure designed to open up blood vessels in the heart. This procedure is a game-changer in cardiovascular treatment, providing a less invasive alternative to open-heart surgery.
LSI’s medtech market research found that interventional cardiology approaches and procedures in South Korea have been on a notable rise. Approximately 150,000 interventional cardiology procedures are performed annually in South Korea, making up nearly 75% of all cardiac procedures in the country.
Specifically, Percutaneous Coronary Intervention (PCI) procedures are expected to see significant growth in South Korea. It is projected that the volume of these procedures will increase at a compound annual growth rate (CAGR) of 4.4%, from approximately 83,000 in 2023 to 103,000 by 2028. This increase is indicative of the growing trust in the safety and effectiveness of PCI as a preferred method of treating coronary heart disease.
Full procedure volume data and trends in South Korea and 36 additional countries across Asia, North America, Europe, and Latin America are available in our proprietary Global Procedure Volumes Database.
Among the top medical device companies making waves in this field, LN Robotics is one to watch — both as Korea's first cardiovascular robotics provider and as a leader amongst a select group of medical technology companies that are tackling the unique challenges of bringing robotics into the cathlab. This company has been making significant strides in their development of a next-generation robotic assistant designed for use during PCI procedures. Their AVIAR system is being engineered to simultaneously operate two guidewires mounted with various instruments, positioning their system to revolutionize the way interventional cardiology procedures are performed. The company’s novel system is poised to deliver greater intraoperative precision and efficiency, enhanced patient care, and improved surgical outcomes.
More details on LN Robotics and over 6,000 medical technology companies and associated deals can be accessed in our proprietary Companies & Deals Database.
South Korea's continued advancements in interventional cardiology and the rise of medical technology companies like LN Robotics underscore the nation's commitment to leading in global medical technology innovation. South Korea's commitment to the development of advanced medical technology is driven by a government that supports research and innovation, a dynamic and competitive domestic market, and a culture that values precision, efficiency, and high-quality healthcare.
For more coverage of the interventional cardiology space and hundreds of adjacent medtech markets across all major domestic and global geographies, LSI offers a comprehensive suite of medtech market research solutions provided by our in-house team of career-Medtech insiders. Visit our website or get in touch with our team to see how our platform can help you say goodbye to overpriced, bloated market reports forever.
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