South Korea Nerve Repair And Regeneration Market Size & Outlook
South Korea nerve repair and regeneration market, 2018-2030 (US$M)
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South Korea nerve repair and regeneration market highlights
- The South Korea nerve repair and regeneration market generated a revenue of USD 111.5 million in 2023 and is expected to reach USD 246.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 12% from 2024 to 2030.
- In terms of segment, neurostimulation and neuromodulation devices was the largest revenue generating product in 2023.
- Biomaterials is the most lucrative product segment registering the fastest growth during the forecast period.
Nerve repair and regeneration market data book summary
| Market revenue in 2023 | USD 111.5 million |
| Market revenue in 2030 | USD 246.0 million |
| Growth rate | 12% (CAGR from 2023 to 2030) |
| Largest segment | Neurostimulation and neuromodulation devices |
| Fastest growing segment | Biomaterials |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biomaterials, Neurostimulation and Neuromodulation Devices |
| Key market players worldwide | Axogen Inc, Stryker Corp, St. Jude Medical, Baxter International Inc, Boston Scientific Corp, Integra Lifesciences Holdings Corp, Medtronic PLC, Polyganics, LivaNova PLC |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.2% of the global nerve repair and regeneration market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India nerve repair and regeneration market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 710.8 million by 2030.
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Nerve Repair And Regeneration Market Scope
Nerve Repair And Regeneration Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea nerve repair and regeneration 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 nerve repair and regeneration market will help companies and investors design strategic landscapes.
Neurostimulation and neuromodulation devices was the largest segment with a revenue share of 67% in 2023. Horizon Databook has segmented the South Korea nerve repair and regeneration market based on biomaterials, neurostimulation and neuromodulation devices covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing life expectancy, prevalence of neurological disorders, increasing suicidal events, and health awareness initiatives, such as conferences by the government and other private institutes are propelling market growth.
Among the Organization for Economic Cooperation and Development (OECD) nations Korea has experienced the highest number of suicides for consecutively 10 years. According to a study, the total population who have committed suicide in Korea were suffering from more than one mental disorder.
The qualitative and quantitative developments were made after the portrayal of the Mental Health Act in 1995. The institutions such as the National Mental Hospital and the Korea Brain Research Institute are conducting several studies to develop new treatments and therapies for neurological disorders.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea nerve repair and regeneration market , including forecasts for subscribers. This country databook contains high-level insights into South Korea nerve repair and regeneration market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea nerve repair and regeneration market size, by product, 2018-2030 (US$M)
South Korea Nerve Repair And Regeneration Market Outlook Share, 2023 & 2030 (US$M)
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