To Korean Medical Device Companies: Look to India — A Land of Opportunity

This article is a translation of the original article published by Medical News Korea. Read the original version here.

While Korean companies hold a competitive edge with strong brand trust and advanced hardware capabilities, navigating India’s complex regulations, pricing pressures, and distribution networks remains a challenge.

Dr Sharvari Sathe of VentureBlick: “Thorough market research and strategic local partnerships are essential for successful entry into the Indian healthcare market.”

“India is not just an emerging market — it is a vast land of opportunity undergoing rapid transformation. As the economy grows, the middle class is expanding quickly, and with increasing spending power, demand for high-quality healthcare services and products is on the rise. Since 70% of India’s medical device market still relies on imports, I believe the opportunities for foreign companies entering India outweigh those available domestically.” 

These insights were shared by Dr Sharvari Sathe, an expert with over 10 years of experience in biotechnology, life sciences, and startup innovation. She is currently part of VentureBlick India, the local arm of a healthcare-focused global expansion partner (CEO: Chris Lee).

Dr Sharvari Sathe at KIMES 2025

In a recent interview with Medical News, Dr Sathe remarked, “I believe now is the ideal time for Korean companies to enter the Indian market.” She added, “India’s high-income and upper-middle-income groups frequently use private hospitals and have access to insurance coverage — an ideal setting for Korean companies with technological strength to be highly competitive.”

Indian distributors are showing a strong interest in Korean medical devices, and the reason is clear. Major Korean brands like Samsung, LG, and Hyundai have already established a high level of trust in India. As a result, there is a prevailing perception that "Korean products are reliable." This creates a favourable environment for Korean medical devices and healthcare solution companies to receive a positive reception in the Indian market.

“The Indian healthcare market is growing rapidly, and Korean companies have a strong potential across sectors such as medical devices, diagnostics, biotech, and digital healthcare,” Dr Sathe explained. “However, the market does present challenges — including complex regulatory requirements, fierce price competition, and the need to establish local distribution networks. This is why in-depth market research and well-thought-out partnership strategies are absolutely critical.”

When asked about areas with the most growth potential, she identified medical robotics, aesthetic medicine, next-generation diagnostic devices, high-tech imaging, implants, and medical electronics as key segments. “India has strong capabilities in software and AI but lags in hardware. That’s where Korean expertise in medical and electronic devices can create powerful synergies,” she explained.

To make this a reality, VentureBlick sees itself as the ideal partner for Korean companies. Rather than limiting support to matchmaking at trade shows, VentureBlick provides comprehensive, on-the-ground assistance by leveraging its deep local networks and expertise.

Beyond market entry strategies, VentureBlick offers end-to-end support, including legal guidance, marketing support, and access to a vast healthcare professional network, helping companies not only enter the market but scale sustainably.

“VentureBlick India collaborates with over 200 agency partners and taps into a global network of more than 6,500 healthcare professionals to provide tailored support,” Dr Sathe added.

KIMES Spotlights Korea’s Strong Competitiveness — VentureBlick Expected to Be a Trusted Launchpad for Entry into the Indian Market

With the MediThinQ Team

Dr Sathe’s visit to Korea coincided with the country’s largest medical device exhibition, KIMES 2025 (Korea International Medical & Hospital Equipment Show), and GMEP 2025 (Global Medical Equipment Plaza), held in partnership with KOTRA.

Reflecting on her experience, she shared, "Participating in KIMES 2025 reaffirmed the strong global competitiveness of Korea’s medical device industry." She was impressed not only by the scale of the event and the calibre of the participating companies, but also by the practical business opportunities created through direct engagement with global buyers and partners, beyond simply exhibiting products.

Concluding the interview, Dr Sharvari Sathe said, “Korea’s medical device industry has already reached a high level of sophistication, and the opportunities to collaborate with high-growth markets like India are limitless.” She added, “I look forward to VentureBlick playing a strong role as a bridgehead, helping Korean companies achieve even greater success in the Indian market.”