South Korea Neurostimulation Devices Market Size & Outlook
South Korea neurostimulation devices market, 2018-2030 (US$M)
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South Korea neurostimulation devices market highlights
- The South Korea neurostimulation devices market generated a revenue of USD 113.6 million in 2023 and is expected to reach USD 291.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 14.4% from 2024 to 2030.
- In terms of segment, spinal cord stimulator was the largest revenue generating product in 2023.
- Sacral Nerve Stimulator is the most lucrative product segment registering the fastest growth during the forecast period.
Neurostimulation devices market data book summary
| Market revenue in 2023 | USD 113.6 million |
| Market revenue in 2030 | USD 291.3 million |
| Growth rate | 14.4% (CAGR from 2023 to 2030) |
| Largest segment | Spinal cord stimulator |
| Fastest growing segment | Sacral Nerve Stimulator |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Electric Stimulator |
| Key market players worldwide | Medtronic PLC, LivaNova PLC, Boston Scientific Corp, St. Jude Medical, Nevro Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.8% of the global neurostimulation devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China neurostimulation devices 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 482.1 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 51.85% in 2023. Horizon Databook has segmented the South Korea neurostimulation devices market based on spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, gastric electric stimulator covering the revenue growth of each sub-segment from 2018 to 2030.
Incidence of migraine & tension-type headaches in South Korea is among the highest in Asia. Several studies suggest that women are more susceptible to migraines. According to a survey investigating the impact & prevalence of migraine & tension-type headaches in Korean population (a stratified random population sample of 1,507 participants), the 1-year prevalence of all headache types was 61.4% 69.9% in women and 52.8% in men. This is likely to drive market growth in South Korea during the forecast period.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
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South Korea neurostimulation devices market size, by product, 2018-2030 (US$M)
South Korea Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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