South Korea Sleep Apnea Devices Market Size & Outlook
South Korea sleep apnea devices market, 2018-2030 (US$M)
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South Korea sleep apnea devices market highlights
- The South Korea sleep apnea devices market generated a revenue of USD 98.9 million in 2023 and is expected to reach USD 155.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.6% from 2024 to 2030.
- In terms of segment, therapeutic devices was the largest revenue generating product in 2023.
- Sleep Apnea Masks is the most lucrative product segment registering the fastest growth during the forecast period.
Sleep apnea devices market data book summary
| Market revenue in 2023 | USD 98.9 million |
| Market revenue in 2030 | USD 155.1 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Therapeutic devices |
| Fastest growing segment | Sleep Apnea Masks |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic Devices, Therapeutic Devices, Sleep Apnea Masks |
| Key market players worldwide | ResMed Inc, Koninklijke Philips NV, Fisher & Paykel Healthcare Corp Ltd, BMC Medical, Natus Medical, SOMNOmedics, ZOLL Medical Corporation, Nihon Kohden Corp, Curative Medical, React Health, Somnetics, Compumedics-alpha trace |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.2% of the global sleep apnea 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 sleep apnea devices market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 260.5 million by 2030.
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Sleep Apnea Devices Market Scope
Sleep Apnea Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea sleep apnea 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 sleep apnea devices market will help companies and investors design strategic landscapes.
Therapeutic devices was the largest segment with a revenue share of 78.36% in 2023. Horizon Databook has segmented the South Korea sleep apnea devices market based on diagnostic devices, therapeutic devices, sleep apnea masks covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea sleep apnea devices market is expected to grow over the forecast period, which can be attributed to key factors such as availability of a wide variety of sleep apnea devices in the market and intense competition among market players.
In 2018, the Korean government extended insurance coverage to CPAP treatment and sleep polyvalence tests. Owing to this initiative, Phillips Korea decided to expand its portfolio in CPAP market by introducing a connected care solutions in South Korea.
The company has even introduced CPAP rental service in the country. This has boosted the CPAP market in Korea.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea sleep apnea devices market , including forecasts for subscribers. This country databook contains high-level insights into South Korea sleep apnea devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea sleep apnea devices market size, by product, 2018-2030 (US$M)
South Korea Sleep Apnea Devices Market Outlook Share, 2023 & 2030 (US$M)
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