South Korea Health Sensors Market Size & Outlook
South Korea health sensors market, 2018-2030 (US$M)
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South Korea health sensors market highlights
- The South Korea health sensors market generated a revenue of USD 667.7 million in 2021 and is expected to reach USD 2,752.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 17% from 2022 to 2030.
- In terms of segment, wearable sensors was the largest revenue generating product in 2021.
- Implantable/ingestible sensors is the most lucrative product segment registering the fastest growth during the forecast period.
Health sensors market data book summary
| Market revenue in 2021 | USD 667.7 million |
| Market revenue in 2030 | USD 2,752.6 million |
| Growth rate | 17% (CAGR from 2021 to 2030) |
| Largest segment | Wearable sensors |
| Fastest growing segment | Implantable/ingestible sensors |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hand held diagnostic sensors, Wearable sensors, Implantable/ingestible sensors |
| Key market players worldwide | Analog Devices Inc, Danaher Corp, GE HealthCare Technologies Inc Common Stock, Honeywell International Inc, Medtronic PLC, Smiths Group PLC, Koninklijke Philips NV, Stryker Corp, Abbott Laboratories, Roche Holding AG ADR, Hologic Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global health sensors market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan health sensors market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,425.6 million by 2030.
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Health Sensors Market Scope
Health Sensors Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea health sensors 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 health sensors market will help companies and investors design strategic landscapes.
Wearable sensors was the largest segment with a revenue share of 40.93% in 2021. Horizon Databook has segmented the South Korea health sensors market based on hand held diagnostic sensors, wearable sensors, implantable/ingestible sensors covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing healthcare expenditure and rising incidence of chronic diseases & obesity are among the major factors driving market growth in South Korea. According to a report published in Countryeconomy.com, in 2018, healthcare expenditure by the Government of South Korea was ~59.77% of the country’s GDP, and it was ~58.87% in 2017.
Moreover, according to a report published by the Healthdata Organization in 2020, diabetes, ischemic heart disease, and cancer, among others, are some of the high prevalent diseases in the country. Therefore, the aforementioned factors are expected to boost the demand for health sensors in South Korea during the forecast period.
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Our clientele includes a mix of health sensors 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 health sensors market , including forecasts for subscribers. This country databook contains high-level insights into South Korea health sensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea health sensors market size, by product, 2018-2030 (US$M)
South Korea Health Sensors Market Outlook Share, 2021 & 2030 (US$M)
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