South Korea’s 900B won bet on medical devices to tackle undiagnosed health crises
South Korea is set to invest a massive 900 billion won in developing innovative medical devices, aiming to revolutionise the sector. This significant investment, planned from 2025, will involve leading companies and research institutions such as the Korea Institute of Science and Technology (KIST) and the Korea Institute of Medical Devices (KIMDI).
The country also faces a silent health crisis - sleep apnea. Around six million Koreans are affected, with a staggering 80% of cases going undiagnosed. This highlights the urgent need for advanced medical devices that can detect and treat such conditions.
Meanwhile, the government is exploring ways to relax medical restrictions, particularly for stem cell therapies, to provide more treatment options for patients. However, this move comes amidst a growing medical tourism industry, which has seen an increase in complaints and disputes.
South Korea's substantial investment in medical device innovation signals a commitment to improving healthcare outcomes. While challenges like undiagnosed sleep apnea persist, the government's plans to ease restrictions on stem cell therapies offer hope for new treatments. However, the growing medical tourism industry and its associated issues will require careful management.
