South Korea Sports Medicine Market Size & Outlook
South Korea sports medicine market, 2018-2030 (US$M)
Related Markets
South Korea sports medicine market highlights
- The South Korea sports medicine market generated a revenue of USD 39.2 million in 2023 and is expected to reach USD 71.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, body reconstruction & repair was the largest revenue generating product in 2023.
- Accessories is the most lucrative product segment registering the fastest growth during the forecast period.
Sports medicine market data book summary
| Market revenue in 2023 | USD 39.2 million |
| Market revenue in 2030 | USD 71.0 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | Body reconstruction & repair |
| Fastest growing segment | Accessories |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Body Reconstruction & Repair, Body Support & Recovery, Body Monitoring & Evaluation, Accessories |
| Key market players worldwide | Smith & Nephew PLC, Stryker Corp, Zimmer Biomet Holdings Inc, Arthrex, Enovis Corp, DePuy Synthes, Johnson & Johnson, Conmed Corp, Mueller Industries Inc, Orthofix Medical Inc, Performance Health, Karl Storz |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.7% of the global sports medicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China sports medicine market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 420.6 million by 2030.
Body reconstruction & repair was the largest segment with a revenue share of 38.78% in 2023. Horizon Databook has segmented the South Korea sports medicine market based on body reconstruction & repair, body support & recovery, body monitoring & evaluation, accessories covering the revenue growth of each sub-segment from 2018 to 2030.
As per the article published by the PubMed in July 2022, a significant health concern in South Korea was insufficient physical activity, impacting 54.4% of adults and 94.1% of adolescents in 2020.
The period from 2014 to 2020 witnessed a concerning decrease in adequate aerobic physical activity, dropping from 58.3% to 45.6%. Simultaneously, the regular duration of a sedentary lifestyle increased from 7.5 hours to 8.6 hours.
Recognizing the need for interventions to promote physical activity across clinical and policy domains, it became necessary to address this trend. During the COVID-19 pandemic, when physical activity decreased, a demand evolved for safer and more effective strategies to encourage an active lifestyle.
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Sports Medicine Market Scope
Sports Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea sports medicine market size, by product, 2018-2030 (US$M)
South Korea Sports Medicine Market Outlook Share, 2023 & 2030 (US$M)
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