South Korea Drug Device Combination Products Market Size & Outlook
South Korea drug device combination products market, 2018-2030 (US$M)
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South Korea drug device combination products market highlights
- The South Korea drug device combination products market generated a revenue of USD 4,734.4 million in 2023 and is expected to reach USD 9,506.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.5% from 2024 to 2030.
- In terms of segment, transdermal patches was the largest revenue generating product in 2023.
- Photodynamic Therapy Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Drug device combination products market data book summary
| Market revenue in 2023 | USD 4,734.4 million |
| Market revenue in 2030 | USD 9,506.0 million |
| Growth rate | 10.5% (CAGR from 2023 to 2030) |
| Largest segment | Transdermal patches |
| Fastest growing segment | Photodynamic Therapy Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Photodynamic Therapy Devices, Transdermal Patches, Wound Care Products, Infusion Pumps, Orthopedic Combination Products, Drug Eluting Stents, Inhalers, Antimicrobial Catheters |
| Key market players worldwide | Abbott Laboratories, Terumo Corp, Stryker Corp, Viatris Inc, Medtronic PLC, Boston Scientific Corp, Novartis AG ADR, Becton Dickinson & Co, Teleflex Inc, W L Gore & Associates |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.4% of the global drug device combination products market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China drug device combination products 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 16,994.4 million by 2030.
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Drug Device Combination Products Market Scope
Drug Device Combination Products Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea drug device combination products 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 drug device combination products market will help companies and investors design strategic landscapes.
Transdermal patches was the largest segment with a revenue share of 23.1% in 2023. Horizon Databook has segmented the South Korea drug device combination products market based on photodynamic therapy devices, transdermal patches, wound care products, infusion pumps, orthopedic combination products, drug eluting stents, inhalers, antimicrobial catheters covering the revenue growth of each sub-segment from 2018 to 2030.
The growing demand for drug-device combination products in South Korea’s healthcare sector can be attributed to their crucial role in addressing cardiovascular conditions and various surgical procedures. As the prevalence of cardiovascular disorders and respiratory failure is increasing, the need for such devices is expected to grow over the coming decade.
Moreover, the rising prevalence of chronic diseases, such as cancer, cardiovascular & neurodegenerative diseases, and diabetes, among the population is anticipated to improve the demand for drug-device combination products.
Moreover, according to a report by the National Library of Medicine (NCBI) published in May 2022, among Korean adults aged 30 years or above, around 6.05 million people had diabetes mellitus in 2020.
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Our clientele includes a mix of drug device combination products market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea drug device combination products market , including forecasts for subscribers. This country databook contains high-level insights into South Korea drug device combination products market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea drug device combination products market size, by product, 2018-2030 (US$M)
South Korea Drug Device Combination Products Market Outlook Share, 2023 & 2030 (US$M)
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