South Korea Ppg Biosensors Market Size & Outlook
South Korea ppg biosensors market, 2018-2030 (US$M)
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South Korea ppg biosensors market highlights
- The South Korea ppg biosensors market generated a revenue of USD 11.3 million in 2023 and is expected to reach USD 25.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 12.2% from 2024 to 2030.
- In terms of segment, smart watches was the largest revenue generating product in 2023.
- Smart Watches is the most lucrative product segment registering the fastest growth during the forecast period.
Ppg biosensors market data book summary
| Market revenue in 2023 | USD 11.3 million |
| Market revenue in 2030 | USD 25.3 million |
| Growth rate | 12.2% (CAGR from 2023 to 2030) |
| Largest segment | Smart watches |
| Fastest growing segment | Smart Watches |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pulse Oximeters, Smart Watches, Wrist Bands |
| Key market players worldwide | Analog Devices Inc, Murata Manufacturing Co Ltd, Silicon Laboratories Inc, MediaTek Inc, Ams-OSRAM AG |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global ppg biosensors market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China ppg biosensors 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 22.3 million by 2030.
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PPG Biosensors Market Scope
PPG Biosensors Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea ppg biosensors 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 ppg biosensors market will help companies and investors design strategic landscapes.
Smart watches was the largest segment with a revenue share of 42.48% in 2023. Horizon Databook has segmented the South Korea ppg biosensors market based on pulse oximeters, smart watches, wrist bands covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing geriatric population and growing incidence of chronic diseases in South Korea are major drivers of the market. For instance, according to Statistics Korea, the number of people aged 65 and older was 8.53 million in 2021.
Furthermore, increasing healthcare expenditure and favorable government policies for approval of products has encouraged several major players to enter into this market. Moreover, rise in elderly population is expected to drive the market further.
For instance, as per Korea Herald, around 16.5% of the total country population is expected to be aged more than 65. As elder people are more susceptible toward hypertension & cardiovascular disorders, the South Korea PGP biosensors market is expected to witness considerable growth over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea ppg biosensors market , including forecasts for subscribers. This country databook contains high-level insights into South Korea ppg biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea ppg biosensors market size, by product, 2018-2030 (US$M)
South Korea PPG Biosensors Market Outlook Share, 2023 & 2030 (US$M)
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