South Korea Defibrillator Market Size & Outlook, 2024-2030
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South Korea defibrillator market highlights
- The South Korea defibrillator market generated a revenue of USD 189.9 million in 2023 and is expected to reach USD 354.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.3% from 2024 to 2030.
- In terms of segment, external defibrillator was the largest revenue generating product in 2023.
- External Defibrillator is the most lucrative product segment registering the fastest growth during the forecast period.
Defibrillator market data book summary
| Market revenue in 2023 | USD 189.9 million |
| Market revenue in 2030 | USD 354.3 million |
| Growth rate | 9.3% (CAGR from 2023 to 2030) |
| Largest segment | External defibrillator |
| Fastest growing segment | External Defibrillator |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Implantable Cardioverter Defibrillator (ICD), External Defibrillator |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.6% of the global defibrillator market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan defibrillator market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 516.9 million by 2030.
External defibrillator was the largest segment with a revenue share of 58.4% in 2024. Horizon Databook has segmented the South Korea defibrillator market based on implantable cardioverter defibrillator (icd), external defibrillator covering the revenue growth of each sub-segment from 2018 to 2030.
According to Korean Centers for Disease Control and Prevention (KDCA), in South Korea, the number of patients with acute cardiac arrest that occurred in 2020 was 61.6 per 100,000 population. Hence, the domestic market is expected to have demand for defibrillators.
Companies in the market are constantly innovating to gain a competitive share in the market. According to the Emergency Medical Service Act, it was mandatory to install AEDs in major public and multiuse facilities since 2008 in the country. CU Medical is the major player in the country, holding more than 50% of the share of the domestic AED market.
Companies are constantly innovative by partnering with technological firms. For instance, in April 2023, CU Medical, in synergy with its largest shareholder, ExCure, planned to upgrade the function and quality of the Smart Automated External Defibrillator to achieve the highest by combining ExCure’s IoT technology and security solutions.
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Defibrillator Market Scope
Defibrillator Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ZOLL Medical Corporation | View profile | 1001-5000 | Chelmsford, Massachusetts, United States, North America | http://www.zoll.com/ |
| SCHILLER | View profile | 501-1000 | Feldkirchen, Bayern, Germany, Europe | https://www.schillermed.de/ |
| MicroPort Scientific Corp | View profile | 8230 | 1601 Zhangdong Road, Zhangjiang Hi-Tech Park, Shanghai, China, People's Republic of, 201203 | https://www.microport.com |
| BIOTRONIK | View profile | 5001-10000 | Berlin, Berlin, Germany, Europe | https://www.biotronik.com/de-de |
| Nihon Kohden Corp | View profile | 6325 | 31-4 Nishiochiai 1-chome, Shinjuku-ku, Tokyo, Japan, 1618560 | http://www.nihonkohden.co.jp |
| Boston Scientific Corp | View profile | 48000 | 300 Boston Scientific Way, Marlborough, MA, United States, 01752-1234 | https://www.bostonscientific.com |
| Stryker Corp | View profile | 52000 | 1941 Stryker Way, Portage, MI, United States, 49002 | https://www.stryker.com |
| Medtronic PLC | View profile | 95000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | https://www.medtronic.com |
| Koninklijke Philips NV | View profile | 73712 | Philips Center, Amstelplein 2, Amsterdam, Netherlands, 1096 BC | https://www.philips.com |
| Abbott Laboratories | View profile | 114000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | https://www.abbottinvestor.com |
South Korea defibrillator market size, by implantable cardioverter defibrillator (icd), 2018-2030 (US$M)
South Korea Defibrillator Market Outlook Share, 2024 & 2030 (US$M)
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