South Korea Surgical Equipment Market Size & Outlook
South Korea surgical equipment market, 2018-2030 (US$M)
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South Korea surgical equipment market highlights
- The South Korea surgical equipment market generated a revenue of USD 375.6 million in 2023 and is expected to reach USD 745.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.3% from 2024 to 2030.
- In terms of segment, surgical sutures & staplers was the largest revenue generating product in 2023.
- Electrosurgical Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Surgical equipment market data book summary
| Market revenue in 2023 | USD 375.6 million |
| Market revenue in 2030 | USD 745.7 million |
| Growth rate | 10.3% (CAGR from 2023 to 2030) |
| Largest segment | Surgical sutures & staplers |
| Fastest growing segment | Electrosurgical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Surgical Sutures & Staplers, Handheld Surgical Devices, Electrosurgical Devices |
| Key market players worldwide | Johnson & Johnson, Zimmer Biomet Holdings Inc, B. Braun, Smith & Nephew PLC, Stryker Corp, Aspen Group Inc, Medtronic PLC, BD |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.2% of the global surgical equipment market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China surgical equipment market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,921.1 million by 2030.
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Surgical Equipment Market Scope
Surgical Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea surgical equipment 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 surgical equipment market will help companies and investors design strategic landscapes.
Surgical sutures & staplers was the largest segment with a revenue share of 45.29% in 2023. Horizon Databook has segmented the South Korea surgical equipment market based on surgical sutures & staplers, handheld surgical devices, electrosurgical devices covering the revenue growth of each sub-segment from 2018 to 2030.
The surgical equipment market in South Korea is anticipated to grow significantly due to the increasing launches of surgical instruments in the country market. The global players are introducing novel products in South Korea. For instance, in October 2022, Olympus Corporation, a MedTech firm, launched the THUNDERBEAT Open Fine Jaw Type X surgical energy devices in the South Korea market.
In addition, the major domestic players operating in the country market are also launching raw materials that can help design surgical instruments. For instance, in November 2020, the Samyang Biopharm, a South Korea-based company introduced the Neosorb Plus, the first antibacterial absorbable suture material in the domestic market.
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Target buyers of South Korea surgical equipment market databook
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Our clientele includes a mix of surgical equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea surgical equipment market , including forecasts for subscribers. This country databook contains high-level insights into South Korea surgical equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea surgical equipment market size, by product, 2018-2030 (US$M)
South Korea Surgical Equipment Market Outlook Share, 2023 & 2030 (US$M)
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