The medical device industry in Korea has been growing rapidly. This growth is a testament to the quality and innovation of medical devices manufactured in Korea, which are increasingly being exported globally. A critical factor in determining the safety and efficacy of Korean devices is their adherence to Korean Good Manufacturing Practices (KGMP), as recommended by the Ministry of Food and Drug Safety (MFDS).
Combination products are a distinct class of medical products created by physically or chemically combining two (02) or more regulated components (drugs, quasi-drugs, and medical devices) and producing them as a single unit.
Asia-Pacific (APAC) countries like China, Japan, India, South Korea, and others that have a high demand for drug-device combinations are rapidly expanding in the healthcare segment because of their growing populations and healthcare expenditures.
South Korea, the 11th largest economy in the world, is a hub for talent and skilled labor. The Korean healthcare infrastructure and strategy took the world by surprise in the early COVID-19 times. They curated an ideal model for testing and isolating early suspects for containing the viral outbreak. The Korean drugmakers did not waste time either; they quickly started creating their vaccines to combat the pandemic.
Labeling, perhaps the most looked-after section of any product; either a medicinal product, medical device or a cosmetics product. As it furnishes the first-hand information about the product to the outside world, Life Sciences manufacturers across the globe are obliged to manage this piece of information as accurately as possible to win the end-user’s trust. It should not only provide the technical details of the product but should also caution the end-user with proper usage guidance and warnings.