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An Introduction to Korea’s SME Medical Device Manufacturers

In the last AT&D Blog post titled “Korea’s medical device industry driven by 3 factors”, we looked at the medical device industry in Korea and some of Korea’s small- and medium-sized enterprises (SMEs) specializing in medical device manufacturing.

In this post, we will introduce three more of Korea’s leading SMEs producing medical devices and equipment.

1. KYUNGWON MEDICAL

o Company Profile

Established in 1991, Kyungwon Medical specializes in instruments and apparatus for bone grafting and osteoporosis treatment and is recognized as Korea’s leading manufacturer and distributor of spinal surgery systems. The company’s continued success is underpinned by the support and guidance it enjoys from hospitals and surgeons.

kyungwon medical<Research Office at Kyungwon Medical>

Kyungwon Medical believes its first responsibility is to develop high-quality products to enhance the precious gift of life. Its mission is to provide surgeons with outstanding products that help them to achieve superior clinical results and improve patients’ quality of life. Kyungwon Medical strives to provide the best customer service and support for hospitals, their staff and surgeons, and is committed to working with them all to meet patients’ needs.

o Main Products

Synthetic Bone Material

<Kyunwon Medical’s Synthetic Bone Material>

PolyBone® is a revolutionary 100% synthetic bone substitute composed of B-TCP (beta-Tricalcium Phosphate) which supports bone growth, and Polyphosphate, which accelerates bone reconstruction.

What makes PolyBone® the optimal bone substitute material on the market is its microporous structure that allows vessels and bone to easily grow into cavities and provide a scaffold on which new bone can grow.

Tyche Spinal Fixation System

<Kyunwon Medical’s Tyche Spinal Fixation System>

The Tyche Pedicle Screw System is a pedicle screw for the treatment of severe spondylolisthesis (a condition of the spine where a vertebra slips forward or backward compared to the next vertebra) in skeletally mature patients. In addition, the Tyche provides immobilization and stabilization of spinal segments as an adjunct to fusion in treatment of acute and chronic instabilities or deformities of the spine.

Bone cement

<Kyunwon Medical’s Bone Cement>

Optimum® is a PMMA(Poly methyl methacrylate) -based acrylic bone cement with medium viscosity and low exothermic reaction. Optimum® delivers optimal clinical results in various surgical procedures such as attachment of implants to the bone and filling of cavities.

2. SCIENCE MEDIC CO., LTD

o Company Profile

Science Medic Co., Ltd. is a venture company that leads the local distribution of surgical equipment and supplies with vigor and passion. The company’s product portfolio includes 285 types of surgical saws and a wide variety of surgical hand instruments such as drills, reamer, wires, and saws. As well as exporting its products since 2009, Science Medic also imports high-quality medical devices and supplies through its extensive domestic and overseas marketing network.

o Main Products
Science Medic offers an assortment of surgical blades from large bone cutting blades — including dynamic, 3M, Aesculap and Stryker type — to small bone cutting blades — such as Linvatec, Micro Airo, Stryker type. A wide variety of other blades are also available including reciprocating and Aesculap types.

Science Medic also supplies powered hand instruments, including pneumatic tools such as drills and oscillating saws. The company’s multipurpose hand tool is available with drill attachments, reamer attachments, micro sagittal saws, and others.

3. MYUNG SHIN MEDICAL

o Company Profile

Established in 1999, MYUNG SHIN MEDICAL is a specialist manufacturer of far-infrared heaters for medical use. The company aims to become a global market leader based on its commitment to technology development.

With some USD20 million already invested in product development and a worldwide patent on its panel heating technology, MYUNG SHIN MEDICAL is currently expanding its sales network beyond Korea to Japan, the United States, and Europe and is emerging as genuine global contender in its field.

o Main Products

Far Infrared Medical Heater

<Myung Shin Medical’s Zen-Beam>

MYUNG SHIN MEDICAL’s Rainbow is a therapeutic heat treatment device that employs a patented, high-temperature vacuum-formed carbon fiber element to generate pure far-infrared rays (4-19um) that are easily absorbed by the human body.

<Myung Shin Medical’s Rainbow>

One of the Rainbow’s main benefits is that, unlike most other devices that use wire elements to generate infrared rays, the surface of its carbon fiber element does not heat up even after prolonged use, thus eliminating the risk of burns or fire.

Thanks to its portability, the Rainbow can easily be used at home or at work, where it especially popular with office workers for providing rapid relief from fatigued muscles. At less than 4KG, the Rainbow is also easy to position over body areas such as the knees and lower back, where its deep heat penetration provides fast and effective relief from muscle pains, such as those caused by exercise, and menstrual cramps.

The three companies we have looked at here — KYUNGWON MEDICAL, SCIENCE MEDIC CO., LTD, MYUNG SHIN MEDICAL — are all backed by KOTRA as among Korea’s leading medical device manufacturers. Having looked at their progresses in terms of technology development, it is expected that Korea’s medical device industry will further grow to lead the globe.

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