South Korea Structural Heart Devices Market Size & Outlook
South Korea structural heart devices market, 2018-2030 (US$M)
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South Korea structural heart devices market highlights
- The South Korea structural heart devices market generated a revenue of USD 237.3 million in 2023 and is expected to reach USD 792.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 18.8% from 2024 to 2030.
- In terms of segment, tavr (transcatheter aortic valve replacement) was the largest revenue generating type in 2023.
- LAAC (Left Atrial Appendage Closure) is the most lucrative type segment registering the fastest growth during the forecast period.
Structural heart devices market data book summary
| Market revenue in 2023 | USD 237.3 million |
| Market revenue in 2030 | USD 792.9 million |
| Growth rate | 18.8% (CAGR from 2023 to 2030) |
| Largest segment | Tavr (transcatheter aortic valve replacement) |
| Fastest growing segment | LAAC (Left Atrial Appendage Closure) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | SAVR (Surgical Aortic Valve Replacement), TAVR (Transcatheter Aortic Valve Replacement), Mitral Repair (Annuloplasty), LAAC (Left Atrial Appendage Closure) |
| Key market players worldwide | Boston Scientific Corp, Medtronic PLC, Edwards Lifesciences Corp, Abbott Laboratories, St. Jude Medical, LivaNova PLC, Stryker Corp, Lepu Medical, Biomerics, CardioKinetix |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global structural heart devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan structural heart devices 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 1,712.0 million by 2030.
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Structural Heart Devices Market Scope
Structural Heart Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea structural heart 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 structural heart devices market will help companies and investors design strategic landscapes.
Tavr (transcatheter aortic valve replacement) was the largest segment with a revenue share of 54.95% in 2023. Horizon Databook has segmented the South Korea structural heart devices market based on savr (surgical aortic valve replacement), tavr (transcatheter aortic valve replacement), mitral repair (annuloplasty), laac (left atrial appendage closure) covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea's demographic landscape is evolving with a remarkable increase in life expectancy, attributed to advancements in healthcare, elevated living standards, and effective public health campaigns. This demographic shift has led to a surge in age-related cardiovascular conditions, notably aortic valve disorders, igniting a pressing demand for advanced cardiac interventions.
As the population ages, the prevalence of CVDs escalates, thereby fueling the need for cutting-edge CRM devices to address these health challenges. The aging populace places a substantial strain on South Korea's healthcare infrastructure, resulting in a heightened demand for medical devices and services.
This demographic transition, from 9 million seniors in 2022 to over 10 million in 2024, underscores the escalating healthcare requirements stemming from an aging society. Furthermore, heightened awareness among patients and healthcare practitioners regarding the advantages of minimally invasive procedures, such as TAVR, over traditional open-heart surgery is driving market expansion.
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Our clientele includes a mix of structural heart devices market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea structural heart devices market , including forecasts for subscribers. This country databook contains high-level insights into South Korea structural heart devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea structural heart devices market size, by type, 2018-2030 (US$M)
South Korea Structural Heart Devices Market Outlook Share, 2023 & 2030 (US$M)
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