Digital healthcare (Image courtesy of Yonhap)
SEOUL, Jan. 1 (Korea Bizwire) — South Korea’s healthcare and biomedical industry technologies are assessed to be at 80% of the level of the United States, the global leader in the field, with an estimated two-year gap to reach parity.
This was revealed in a report published by the Ministry of Health and Welfare and the Korea Health Industry Development Institute on December 31, based on their 2024 technology assessment.
The study evaluated 44 technologies in disease-related fields, such as addressing low birth rates and infectious diseases, and 38 technologies in industrial sectors, including digital health. The assessments were conducted by 605 experts over two rounds.
Key Findings
- Global Rankings: The United States ranked as the top country in both disease and industrial technologies, followed by Europe, Japan, South Korea, and China. The rankings remain unchanged from the 2022 evaluation.
- Disease Technologies: South Korea’s technology level reached 80.3% of the U.S., with a time gap of 2.2 years. The “circulatory system disease” field was the most advanced, at 87.2% of the U.S. level, while “rare disease treatment” was the lowest at 76.5%.
- Industrial Technologies: South Korea scored 79.1% of the U.S. level, with a 2.5-year gap. “Traditional Korean medicine diagnostic and treatment development” was the highest-performing subfield at 85%, while “biomarker discovery” was the lowest at 75.5%. Notably, China led in the traditional medicine subfield.
Telemedicine (Image courtesy of Yonhap)
Incremental Progress
Compared to the 2022 report, South Korea improved slightly in both domains, with the technology level rising by 0.2 percentage points in both disease and industrial fields. The time gap in industrial technologies decreased by 0.3 years, indicating steady, albeit modest, progress.
Strategic Implications
“This comparative evaluation helps us identify where we stand globally and will guide tailored investment strategies for specific technologies,” said Jung Eun-young, director of health industry policy at the Ministry of Health and Welfare.
The detailed report is available on the Korea Health Industry Development Institute’s website. South Korea aims to use these insights to prioritize research and development efforts, narrowing the gap with global leaders in healthcare innovation.
Ashley Song (ashley@koreabizwire.com)
