South Korea Orthopedic Implants Market Size & Outlook
South Korea orthopedic implants market, 2018-2030 (US$M)
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South Korea orthopedic implants market highlights
- The South Korea orthopedic implants market generated a revenue of USD 165.2 million in 2023 and is expected to reach USD 243.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, lower extremity implants was the largest revenue generating product in 2023.
- Dental is the most lucrative product segment registering the fastest growth during the forecast period.
Orthopedic implants market data book summary
| Market revenue in 2023 | USD 165.2 million |
| Market revenue in 2030 | USD 243.8 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Lower extremity implants |
| Fastest growing segment | Dental |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lower Extremity Implants, Spinal Implants, Dental, Upper Extremity Implants |
| Key market players worldwide | Medtronic PLC, Johnson & Johnson, Stryker Corp, Zimmer Biomet Holdings Inc, Smith & Nephew PLC, NuVasive, Globus Medical Inc Class A, Arthrex, Enovis Corp, MicroPort Scientific Corp, ConforMIS, Exactech, Invibio, B. Braun, Acumed, Alphatec Holdings Inc, Integra Lifesciences Holdings Corp, Corin Group, Medacta Group SA Ordinary Shares, OrthoPediatrics Corp, Orthofix Medical Inc, FH Orthopedics, Enovis |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.6% of the global orthopedic implants market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China orthopedic implants 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 1,256.3 million by 2030.
Lower extremity implants was the largest segment with a revenue share of 53.81% in 2023. Horizon Databook has segmented the South Korea orthopedic implants market based on lower extremity implants, spinal implants, dental, upper extremity implants covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for patient-specific implants increased in South Korea as healthcare providers and patients recognized the benefits of customized solutions. These implants are tailored to an individual's unique anatomical structure, offering improved fit, functionality, and patient outcomes.
The advancements in imaging technologies, such as CT and 3D printing capabilities, facilitated the development of patient-specific implants, driving their adoption in the market. Prototypes also play a crucial role in the orthopedic implant industry in South Korea.
Creating and testing prototypes allow manufacturers to refine designs, optimize implant materials, & ensure compatibility with a patient's body. This iterative process helps in delivering more effective and reliable orthopedic implant solutions.
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Orthopedic Implants Market Scope
Orthopedic Implants Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea orthopedic implants market size, by product, 2018-2030 (US$M)
South Korea Orthopedic Implants Market Outlook Share, 2023 & 2030 (US$M)
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