A Study on the International Competitiveness Analysis of the Korean Medical Device Industry: Focusing on Comparison with the US, China, Japan, and EU

Abstract

In this study, the competitiveness of medical devices with the US, China, Japan, and EU was analyzed using RCA, SRCA, TSI, and ESI. As a result of the analysis, first, in RCA and SRCA analysis, it was found that only two items of HS 8419 and HS 9022 were competitive among Korean medical device items. The US and EU were found to be competitive in almost all items. Second, looking at the TSI index, it can be seen that both Korea and the United States are closer to import-specific rather than export-specific. In China and the EU, the TSI index was greater than 0 for most medical device items from 2016 to 2020. Third, looking at Korea's ESI, the degree of export competition gradually increased from 2016 to 2020. It can be seen that the competition in medical device items is intensifying. The competitiveness of Korea's medical device industry was found to be lower than that of major countries. Accordingly, the Korean medical device industry needs efforts to strengthen its competitiveness.