South Korea Hearing Loss Disease Treatment Market Size & Outlook
South Korea hearing loss disease treatment market, 2018-2030 (US$M)
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South Korea hearing loss disease treatment market highlights
- The South Korea hearing loss disease treatment market generated a revenue of USD 305.3 million in 2023 and is expected to reach USD 411.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4.4% from 2024 to 2030.
- In terms of segment, devices was the largest revenue generating product in 2023.
- Drugs is the most lucrative product segment registering the fastest growth during the forecast period.
Hearing loss disease treatment market data book summary
| Market revenue in 2023 | USD 305.3 million |
| Market revenue in 2030 | USD 411.8 million |
| Growth rate | 4.4% (CAGR from 2023 to 2030) |
| Largest segment | Devices |
| Fastest growing segment | Drugs |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Devices, Drugs |
| Key market players worldwide | Novartis AG ADR, Frequency Therapeutics, Acousia Therapeutics, Sensorion, Pipeline Therapeutics, Audina Hearing Instruments, Astellas Pharma Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.2% of the global hearing loss disease treatment 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 loss disease treatment 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 1,211.3 million by 2030.
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Hearing Loss Disease Treatment Market Scope
Hearing Loss Disease Treatment Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea hearing loss disease treatment 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 loss disease treatment market will help companies and investors design strategic landscapes.
Devices was the largest segment with a revenue share of 90.04% in 2023. Horizon Databook has segmented the South Korea hearing loss disease treatment market based on devices, drugs covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in awareness among people and rise in government support are expected to drive the hearing loss disease treatment market in South Korea. In April 2020, UFIRST Co., Ltd announced the launch of NUGUNA HEARING-AID, which has the capability to detect high-pitched sound and provide information about the direction of high-pitched sound source.
Furthermore, in June 2019, Starkey announced launch of its new AI-based hearing aid in South Korea market. In addition, increasing involvement of market players for collaborations and partnerships is also expected to have a positive impact on the market growth.
For instance, in June 2022, Digital Pharm, a Korean company in digital treatment devices, entered into a strategic collaboration with KT Corporation and Hanmi Pharmaceutical. The partnership is also expected to address diseases associated with hearing loss.
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Target buyers of South Korea hearing loss disease treatment market databook
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Our clientele includes a mix of hearing loss disease treatment market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea hearing loss disease treatment market, including forecasts for subscribers. This country databook contains high-level insights into South Korea hearing loss disease treatment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea hearing loss disease treatment market report size, by product, 2018-2030 (US$M)
South Korea Hearing Loss Disease Treatment Market Share, 2023 & 2030 (US$M)
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