South Korea Cochlear Implant Market Size & Outlook
South Korea cochlear implant market, 2018-2030 (US$M)
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South Korea cochlear implant market highlights
- The South Korea cochlear implant market generated a revenue of USD 22.1 million in 2023 and is expected to reach USD 37.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, outpatient facilities was the largest revenue generating end use in 2023.
- OUTPATIENT FACILITIES is the most lucrative end use segment registering the fastest growth during the forecast period.
Cochlear implant market data book summary
| Market revenue in 2023 | USD 22.1 million |
| Market revenue in 2030 | USD 37.4 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | OUTPATIENT FACILITIES |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | HOSPITALS, OUTPATIENT FACILITIES |
| Key market players worldwide | Cochlear Ltd, Sonova Holding AG, Demant A/S, Amplifon SpA Az nom Post Frazionamento, MED-EL, Zhejiang Pushkang Biotechnology Co. |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.3% of the global cochlear implant market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan cochlear implant 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 185.3 million by 2030.
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Cochlear Implant Market Scope
Cochlear Implant Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea cochlear implant 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 cochlear implant market will help companies and investors design strategic landscapes.
Outpatient facilities was the largest segment with a revenue share of 87.78% in 2023. Horizon Databook has segmented the South Korea cochlear implant market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean population exhibits a prevalence of approximately 22.73% for hearing loss. The occurrence of HL increases with age, with individuals aged 60 years and older constituting 53.6% of the total patients with hearing loss.
Hearing loss among the elderly has significant repercussions, including hindrances in interpersonal communication, feelings of social isolation, depression, and a reduction in employment prospects. Furthermore, hearing loss in adult patients has garnered increased attention due to its recognition as the most prominent modifiable risk factor for dementia.
This has consequently underscored the renewed significance of hearing rehabilitation. Furthermore, hearing aids are widely acknowledged as the primary choice for hearing rehabilitation. Nevertheless, around 17.4% of patients in South Korea with hearing loss opt for hearing aids, with a minimal 12.6% incorporating them into their daily lives.
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Target buyers of South Korea cochlear implant market databook
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Our clientele includes a mix of cochlear implant market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea cochlear implant market , including forecasts for subscribers. This country databook contains high-level insights into South Korea cochlear implant market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea cochlear implant market outlook size, by end use, 2018-2030 (US$M)
South Korea Cochlear Implant Market Outlook Share, 2023 & 2030 (US$M)
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