South Korea Hearing Aids Market Size & Outlook, 2023-2030
South Korea hearing aids market, 2018-2030 (US$M)
Related Markets
South Korea hearing aids market highlights
- The South Korea hearing aids market generated a revenue of USD 157.1 million in 2023 and is expected to reach USD 246.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.6% from 2024 to 2030.
- In terms of segment, outpatient facilities was the largest revenue generating end use in 2023.
- OUTPATIENT FACILITIES is the most lucrative end use segment registering the fastest growth during the forecast period.
Hearing aids market data book summary
| Market revenue in 2023 | USD 157.1 million |
| Market revenue in 2030 | USD 246.4 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | OUTPATIENT FACILITIES |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | HOSPITALS, OUTPATIENT FACILITIES |
| Key market players worldwide | Audicus, Audina Hearing Instruments, Eargo, GN Store Nord A/S, MDHearingAid, SeboTek Hearing Systems, Sonova Holding AG, Starkey Hearing Technologies, WS Audiology |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global hearing aids market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China hearing aids 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 724.8 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Hearing Aids Market Scope
Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea hearing aids 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 hearing aids market will help companies and investors design strategic landscapes.
Outpatient facilities was the largest segment with a revenue share of 79.95% in 2023. Horizon Databook has segmented the South Korea hearing aids market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
Higher prevalence of hearing loss or impairment among the elder population is the key factor for the growth of the hearing aid market in South Korea. The number of hearing loss cases is increasing which is anticipated to increase the demand for hearing aids in the hospitals and dispensaries.
However, market penetration rate of hearing devices is still significantly low in this country. In addition to the increasing ageing population and increasing incidence of hearing impairment in adult patients and pediatrics are expected to drive the market in South Korea.
Furthermore, the advancements in technology, the government initiatives and insurance policies to increase awareness among the population are few other factors contributing to the growth of the market. Companies such as Starkey, GN ReSound, Sonova, Siemens Healthcare, and Widex are some of the major market players in South Korea.
Reasons to subscribe to South Korea hearing aids market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea hearing aids market databook
-
Our clientele includes a mix of hearing aids market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
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 hearing aids market , including forecasts for subscribers. This country databook contains high-level insights into South Korea hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea hearing aids market size, by end use, 2018-2030 (US$M)
South Korea Hearing Aids Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
