Seoul, South Korea (BUSINESS WIRE) - Frost & Sullivan, has appointed Ms. HyoYoung Suh as Director for its Healthcare Practice in South Korea to strengthen its portfolio as it sees huge growth potential in the sector.
"The healthcare market revenue in South Korea is expected to increase to US$ 21.0 billion in 2008, at a compound annual growth rate (CAGR) of 11.7%, from US$ 18.8 billion in 2007.
Also, with developed healthcare infrastructure in place, premium healthcare products and services would be in higher demand," says Ms. Reenita Das, Vice President of Asia Pacific Healthcare Practice, Frost & Sullivan.
Ms. Das also said that 2008 will be marked by a shift towards a successful healthcare business model. "It is no longer about simply making and marketing medicines and devices; it will involve collaboration outside the core business focus," she added.
"HyoYoung Suh is a strong addition to the Asia Pacific Healthcare team," she said.
In her new role at Frost & Sullivan, Ms. Suh will be responsible for growing the company's healthcare business in South Korea.
"I am thrilled to be taking on this new role as I believe I can truly add value to Frost & Sullivan's client base. I look forward to the challenge of this exciting industry," Ms. Suh said.
She added that prospects for the Korean healthcare market are bright. "The healthcare sector has been one of the fastest growing markets in South Korea with an affluent and ageing population which is extremely concerned with healthy living.
This offers huge growth opportunities for healthcare companies," she said.
Frost & Sullivan analysis shows that the growth of non-reimbursement areas and generic markets presents a sizeable opportunity for domestic pharmaceutical and medical device companies in Korea.
Ms. Suh brings vast experience and an enviable track record to Frost & Sullivan's Healthcare Practice in South Korea with her 17 years in the industry, both in consulting and multinational corporations. She has previously worked with leading healthcare companies such as Smith & Nephew, the then GlaxoWellcome, Pharmacia & Upjohn, Rhone-Plounc Rorer, Boehringer-Ingelheim, Pfizer, Esso, McKinsey and the former Andersen Consulting.
Frost & Sullivan Healthcare Practice has a large team of 90 analysts in Asia Pacific, dedicated to researching the pharmaceuticals, medical devices, biotechnology, healthcare IT and medical devices markets as well as emerging technology trends in the region.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com.
Frost & Sullivan
Corporate Communications - Healthcare, Asia Pacific
Shereen Gill, +603 6204 5909 cell: +6017 617 8300
shereen.gill@frost.com
"The healthcare market revenue in South Korea is expected to increase to US$ 21.0 billion in 2008, at a compound annual growth rate (CAGR) of 11.7%, from US$ 18.8 billion in 2007.
Also, with developed healthcare infrastructure in place, premium healthcare products and services would be in higher demand," says Ms. Reenita Das, Vice President of Asia Pacific Healthcare Practice, Frost & Sullivan.
Ms. Das also said that 2008 will be marked by a shift towards a successful healthcare business model. "It is no longer about simply making and marketing medicines and devices; it will involve collaboration outside the core business focus," she added.
"HyoYoung Suh is a strong addition to the Asia Pacific Healthcare team," she said.
In her new role at Frost & Sullivan, Ms. Suh will be responsible for growing the company's healthcare business in South Korea.
"I am thrilled to be taking on this new role as I believe I can truly add value to Frost & Sullivan's client base. I look forward to the challenge of this exciting industry," Ms. Suh said.
She added that prospects for the Korean healthcare market are bright. "The healthcare sector has been one of the fastest growing markets in South Korea with an affluent and ageing population which is extremely concerned with healthy living.
This offers huge growth opportunities for healthcare companies," she said.
Frost & Sullivan analysis shows that the growth of non-reimbursement areas and generic markets presents a sizeable opportunity for domestic pharmaceutical and medical device companies in Korea.
Ms. Suh brings vast experience and an enviable track record to Frost & Sullivan's Healthcare Practice in South Korea with her 17 years in the industry, both in consulting and multinational corporations. She has previously worked with leading healthcare companies such as Smith & Nephew, the then GlaxoWellcome, Pharmacia & Upjohn, Rhone-Plounc Rorer, Boehringer-Ingelheim, Pfizer, Esso, McKinsey and the former Andersen Consulting.
Frost & Sullivan Healthcare Practice has a large team of 90 analysts in Asia Pacific, dedicated to researching the pharmaceuticals, medical devices, biotechnology, healthcare IT and medical devices markets as well as emerging technology trends in the region.
About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com.
Frost & Sullivan
Corporate Communications - Healthcare, Asia Pacific
Shereen Gill, +603 6204 5909 cell: +6017 617 8300
shereen.gill@frost.com
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