The Markets
Korea
Promising areas for UK companies include big data, Health IT, AI-based digital healthcare products and services, telemedicine and consumer health electronics. While big data and Health IT already boast a relatively large market size (GBP 242mn and GBP 273mn respectively), the AI-based medical equipment, telemedicine and consumer health markets represent good opportunities in the future due to a lack of domestic expertise combined with attractive government development plans and anticipated deregulation.
For more detail on Digital Health in Korea click here
Malaysia
Relationship building is key to doing business in South East Asia. On this mission, participants will have the opportunity to take part in DIT led events with key regional stakeholders in the healthcare sector.
In Malaysia, there has been significant interest in digital health and the government has allocated RM31 million for ICT services including a pilot project for EMR to standardised digital health agenda and to provide comprehensive health services to the people.
Taiwan
Taiwan has opportunities for UK digital health and advanced therapies companies, with its world-class information and communication technology (ICT) companies, mature healthcare system, and supportive government all investing into the sector. As part of their Long Term Care 2.0 plan the Taiwanese government is keen to develop telehealth solutions for the monitoring of chronic diseases. The Taiwanese parliament has a £1 billion AI action plan to turn the country into a global AI leader and there may be opportunities for UK companies in the healthcare sector. Taiwan is also in the early stages of introducing blockchain into healthcare. Taiwanese ICT companies see the digital transformation of healthcare as one of the next frontiers of business growth, whilst the government’s health insurance system is looking for solutions to control costs, making Taiwan an attractive market for UK technology and solutions.
For more information on any of these markets contact Michael.hill@trade.gov.uk
