South Korea Electrophysiology Devices Market Size & Outlook
South Korea electrophysiology devices market, 2018-2030 (US$M)
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South Korea electrophysiology devices market highlights
- The South Korea electrophysiology devices market generated a revenue of USD 203.6 million in 2023 and is expected to reach USD 507.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 13.9% from 2024 to 2030.
- In terms of segment, ablation catheters was the largest revenue generating device in 2023.
- Ablation Catheters is the most lucrative device segment registering the fastest growth during the forecast period.
Electrophysiology devices market data book summary
| Market revenue in 2023 | USD 203.6 million |
| Market revenue in 2030 | USD 507.0 million |
| Growth rate | 13.9% (CAGR from 2023 to 2030) |
| Largest segment | Ablation catheters |
| Fastest growing segment | Ablation Catheters |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic Catheters, Laboratory Devices, Access Devices, Ablation Catheters |
| Key market players worldwide | Boston Scientific Corp, Medtronic PLC, Abbott Laboratories, Johnson & Johnson, BIOTRONIK, GE Aerospace, Siemens Healthineers AG ADR, MicroPort Scientific Corp, Koninklijke Philips NV |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.0% of the global electrophysiology devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China electrophysiology devices 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 931.4 million by 2030.
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Electrophysiology Devices Market Scope
Electrophysiology Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea electrophysiology devices 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 electrophysiology devices market will help companies and investors design strategic landscapes.
Ablation catheters was the largest segment with a revenue share of 45.87% in 2024. Horizon Databook has segmented the South Korea electrophysiology devices market based on diagnostic catheters, laboratory devices, access devices, ablation catheters covering the revenue growth of each sub-segment from 2018 to 2030.
The aging population in South Korea places a higher burden on the healthcare system, leading to increased demand for medical devices and services. According to forecasting data released by Statistics Korea in 2023, South Korea’s population of people aged 65 or older is expected to exceed by 10 million in 2024., which is a 5.4% increase compared to 2023.
South Korea’s senior population was reported to the 9 million in 2022. EP devices are crucial in addressing the healthcare needs of elderly individuals with cardiac arrhythmias, contributing to market growth. In addition, South Korea has experienced a significant increase in life expectancy due to advancements in healthcare, improved living standards, and public health initiatives.
As people live longer, they are more likely to develop age-related cardiovascular conditions, driving the demand for EP devices to manage these health issues. As the Korea Heart Disease Fact Sheet 2020 highlights, numerous adults in Korea suffer from hypertension, hypercholesterolemia, and obesity.
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Our clientele includes a mix of electrophysiology devices 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 electrophysiology devices market, including forecasts for subscribers. This country databook contains high-level insights into South Korea electrophysiology devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea electrophysiology devices market
South Korea Electrophysiology Devices Market Share, 2024 & 2030 (US$M)
South Korea electrophysiology devices market
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