South Korea Portable Medical Devices Market Size & Outlook
South Korea portable medical devices market, 2018-2030 (US$M)
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South Korea portable medical devices market highlights
- The South Korea portable medical devices market generated a revenue of USD 1,417.5 million in 2023 and is expected to reach USD 3,425.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 13.4% from 2024 to 2030.
- In terms of segment, monitoring devices was the largest revenue generating product in 2023.
- Smart Wearable Medical Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Portable medical devices market data book summary
| Market revenue in 2023 | USD 1,417.5 million |
| Market revenue in 2030 | USD 3,425.7 million |
| Growth rate | 13.4% (CAGR from 2023 to 2030) |
| Largest segment | Monitoring devices |
| Fastest growing segment | Smart Wearable Medical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart Wearable Medical Devices, Diagnostic Imaging, Therapeutics, Monitoring Devices |
| Key market players worldwide | GE Aerospace, OMRON Corp, Vyaire Medical, Samsung BioLogics, Koninklijke Philips NV, Medtronic PLC, Roche Holding AG, Nox Medical |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.0% of the global portable medical 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 portable medical 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 10,354.9 million by 2030.
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Portable Medical Devices Market Scope
Portable Medical Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea portable medical devices 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 portable medical devices market will help companies and investors design strategic landscapes.
Monitoring devices was the largest segment with a revenue share of 47.84% in 2023. Horizon Databook has segmented the South Korea portable medical devices market based on smart wearable medical devices, diagnostic imaging, therapeutics, monitoring devices covering the revenue growth of each sub-segment from 2018 to 2030.
The rising prevalence of chronic diseases such as cancer, cardiovascular, neurodegenerative diseases, and diabetes among the population is anticipated to increase the demand for portable medical devices such as patient monitoring systems, thereby driving market expansion.
For instance, a study titled Health-economic impact of dementia in South Korea released in October 2021 found that based on clinical diagnosis, In the coming years, it is anticipated that the prevalence of dementia in Korea will significantly rise along with the aging population.
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Our clientele includes a mix of portable medical devices 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 portable medical devices market, including forecasts for subscribers. This country databook contains high-level insights into South Korea portable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea portable medical devices market size, by product, 2018-2030 (US$M)
South Korea Portable Medical Devices Market Share, 2023 & 2030 (US$M)
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