South Korea Digital Diabetes Management Market Size & Outlook
South Korea digital diabetes management market, 2018-2030 (US$M)
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South Korea digital diabetes management market highlights
- The South Korea digital diabetes management market generated a revenue of USD 124.9 million in 2022 and is expected to reach USD 263.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.8% from 2023 to 2030.
- In terms of segment, continuous blood glucose monitoring system was the largest revenue generating product in 2022.
- Smart insulin pens is the most lucrative product segment registering the fastest growth during the forecast period.
Digital diabetes management market data book summary
| Market revenue in 2022 | USD 124.9 million |
| Market revenue in 2030 | USD 263.6 million |
| Growth rate | 9.8% (CAGR from 2022 to 2030) |
| Largest segment | Continuous blood glucose monitoring system |
| Fastest growing segment | Smart insulin pens |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart glucose meter, Continuous blood glucose monitoring system, Smart insulin pens, Smart insulin pumps, Apps |
| Key market players worldwide | Abbott Laboratories, Medtronic PLC, Roche Holding AG ADR, Bayer AG, Sanofi SA, DexCom Inc, Insulet Corp, PHC Holdings Corp, B. Braun Medical, Brigade High Income Founders |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.1% of the global digital diabetes management market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China digital diabetes management 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 599.0 million by 2030.
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Digital Diabetes Management Market Scope
Digital Diabetes Management Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea digital diabetes management 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 digital diabetes management market will help companies and investors design strategic landscapes.
Continuous blood glucose monitoring system was the largest segment with a revenue share of 40.75% in 2022. Horizon Databook has segmented the South Korea digital diabetes management market based on smart glucose meter, continuous blood glucose monitoring system, smart insulin pens, smart insulin pumps, apps covering the revenue growth of each sub-segment from 2018 to 2030.
According to the International Diabetes Federation, there were around 3.4 million people living with diabetes, implying a prevalence of 8.8%. The market is primarily driven by new product launches and innovations in the field of digital diabetes management devices.
For instance, in June 2019, Handok, a leading pharmaceutical company in South Korea, signed an agreement with Medtronic Korea to become its distribution partner for continuous glucose monitoring devices.
Handok was expected to distribute Guardian Connect and iPro 2, a CGM system that can calibrate glucose levels every 5 minutes through a sensor attached to the skin. This partnership with Handok, a dominant player in the domestic market, was expected to help both companies in establishing a leading position in the Korean market.
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Our clientele includes a mix of digital diabetes management 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 digital diabetes management market, including forecasts for subscribers. This country databook contains high-level insights into South Korea digital diabetes management market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea digital diabetes management market size, by product, 2018-2030 (US$M)
South Korea Digital Diabetes Management Market Share, 2022 & 2030 (US$M)
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