South Korea Robotic Prosthetics Market Size & Outlook
South Korea robotic prosthetics market, 2016-2030 (US$M)
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South Korea robotic prosthetics market highlights
- The South Korea robotic prosthetics market generated a revenue of USD 38.6 million in 2023 and is expected to reach USD 77.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.5% from 2024 to 2030.
- In terms of segment, mpc prosthetics was the largest revenue generating extremities in 2023.
- Myoelectrical Prosthetics is the most lucrative extremities segment registering the fastest growth during the forecast period.
Robotic prosthetics market data book summary
| Market revenue in 2023 | USD 38.6 million |
| Market revenue in 2030 | USD 77.9 million |
| Growth rate | 10.5% (CAGR from 2023 to 2030) |
| Largest segment | Mpc prosthetics |
| Fastest growing segment | Myoelectrical Prosthetics |
| Historical data | 2016 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | MPC Prosthetics, Myoelectrical Prosthetics |
| Key market players worldwide | Ottobock, Touch Bionics, HDT Global, Ossur, Endolite India, Shadow Robot |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global robotic prosthetics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China robotic prosthetics market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 5.6 million by 2030.
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Robotic Prosthetics Market Scope
Robotic Prosthetics Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea robotic prosthetics 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 robotic prosthetics market will help companies and investors design strategic landscapes.
Mpc prosthetics was the largest segment with a revenue share of 56.22% in 2023. Horizon Databook has segmented the South Korea robotic prosthetics market based on mpc prosthetics, myoelectrical prosthetics covering the revenue growth of each sub-segment from 2016 to 2030.
The country has several high-tech manufacturing facilities as well as research infrastructure. The cost of manufacturing and development of medical devices is quite less in the country as compared to developed economies. This is expected to boost the demand for the manufacturing and development of medical devices in South Korea.
South Korea is a prominent destination for clinical trials in Asia, with its superior medical infrastructure and a highly educated, relatively healthy & wealthy population. The government support in the country for developing a robust clinical trial environment is anticipated to contribute to the demand for clinical trial application services, thereby contributing to market growth.
In 2019, the country adopted the Five-year Plan for the Advancement of Clinical Trial to establish the country as a leading clinical trial destination globally.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea robotic prosthetics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea robotic prosthetics market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea robotic prosthetics market size, by extremities, 2016-2030 (US$M)
South Korea Robotic Prosthetics Market Outlook Share, 2023 & 2030 (US$M)
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