South Korea Ai In Healthcare Market Size & Outlook
South Korea ai in healthcare market, 2016-2030 (US$M)
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South Korea ai in healthcare market highlights
- The South Korea ai in healthcare market generated a revenue of USD 352.8 million in 2023 and is expected to reach USD 3,809.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 40.5% from 2024 to 2030.
- In terms of segment, software solutions was the largest revenue generating component in 2023.
- Software Solutions is the most lucrative component segment registering the fastest growth during the forecast period.
Ai in healthcare market data book summary
| Market revenue in 2023 | USD 352.8 million |
| Market revenue in 2030 | USD 3,809.1 million |
| Growth rate | 40.5% (CAGR from 2023 to 2030) |
| Largest segment | Software solutions |
| Fastest growing segment | Software Solutions |
| Historical data | 2016 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Services, Software Solutions |
| Key market players worldwide | Microsoft Corp, International Business Machines Corp, Alphabet Inc Class A, NVIDIA Corp, Intel Corp, GE Aerospace, Medtronic PLC, Oracle Corp, Medidata, Merck KGaA, IQVIA Holdings Inc, Itrex Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global ai in healthcare market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China ai in healthcare market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 18,883.6 million by 2030.
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AI In Healthcare Market Scope
AI In Healthcare Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea ai in healthcare market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ai in healthcare market will help companies and investors design strategic landscapes.
Software solutions was the largest segment with a revenue share of 58.25% in 2023. Horizon Databook has segmented the South Korea ai in healthcare market based on hardware, services, software solutions covering the revenue growth of each sub-segment from 2016 to 2030.
South Korea is the latest nation to incorporate AI in its healthcare system. According to Korea Herald, in May 2018, the Ministry of Food and Drug Safety approved its first AI-based medical device called VUNO Med-BoneAge, which uses deep learning to interpret X-ray of a patient’s left hand to determine his skeletal age.
In May 2018, the South Korean government invested USD 33.4 Billion for the next 3 years to build a domestic medical AI system that would analyze a patient’s medical data to provide personalized diagnostics and treatment plans.
Increasing investments by startups have also increased the adoption of AI in healthcare sector. For instance, Standigm raised funding of USD 3.7Billion to develop an AI platform for drug discovery and development.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea ai in healthcare market , including forecasts for subscribers. This country databook contains high-level insights into South Korea ai in healthcare market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea ai in healthcare market size, by component, 2016-2030 (US$M)
South Korea AI In Healthcare Market Outlook Share, 2023 & 2030 (US$M)
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