South Korea Neonatal Critical Care Equipment Market Size & Outlook
South Korea neonatal critical care equipment market, 2018-2030 (US$M)
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South Korea neonatal critical care equipment market highlights
- The South Korea neonatal critical care equipment market generated a revenue of USD 45.9 million in 2023 and is expected to reach USD 74.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, other equipments was the largest revenue generating type in 2023.
- Phototherapy Equipment is the most lucrative type segment registering the fastest growth during the forecast period.
Neonatal critical care equipment market data book summary
| Market revenue in 2023 | USD 45.9 million |
| Market revenue in 2030 | USD 74.5 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Other equipments |
| Fastest growing segment | Phototherapy Equipment |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermoregulation Equipment, Phototherapy Equipment, Respiratory Devices, Neonatal Monitoring Devices, Other Equipments |
| Key market players worldwide | Draegerwerk AG & Co KGaA, Cardinal Health Inc, Koninklijke Philips NV, Medtronic PLC, GE HealthCare Technologies Inc Common Stock, Vyaire Medical, BD, Fisher & Paykel Healthcare Corp Ltd, Masimo Corp, Phoenix Group Holdings PLC, Natus Medical, Utah Medical Products Inc, Ambu A/S ADR |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global neonatal critical care equipment market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China neonatal critical care equipment 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 760.7 million by 2030.
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Neonatal Critical Care Equipment Market Scope
Neonatal Critical Care Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea neonatal critical care equipment 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 neonatal critical care equipment market will help companies and investors design strategic landscapes.
Other equipments was the largest segment with a revenue share of 33.55% in 2023. Horizon Databook has segmented the South Korea neonatal critical care equipment market based on thermoregulation equipment, phototherapy equipment, respiratory devices, neonatal monitoring devices, other equipments covering the revenue growth of each sub-segment from 2018 to 2030.
The growing government initiatives in the country to support neonatal care and the high neonatal death rate is expected to boost the demand for neonatal care equipment in the country. According to UNICEF data, the neonatal mortality rate in South Korea was around 1.384 deaths per 1,000 live births.
South Korea has made substantial progress in expanding and upgrading its NICU infrastructure. Several hospitals across the country have invested in advanced NICU facilities, including state-of-the-art equipment and specialized medical staff.
For instance, in 2008, the Ministry of Health and Welfare initiated the "NICU Support Project" to increase the availability of NICU beds and enhance infrastructure to care for and manage high-risk infants.
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Our clientele includes a mix of neonatal critical care equipment 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 neonatal critical care equipment market , including forecasts for subscribers. This country databook contains high-level insights into South Korea neonatal critical care equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea neonatal critical care equipment market size, by type, 2018-2030 (US$M)
South Korea Neonatal Critical Care Equipment Market Outlook Share, 2023 & 2030 (US$M)
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