South Korea Telehealth Market Size & Outlook, 2023-2030
South Korea telehealth market, 2018-2030 (US$M)
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South Korea telehealth market highlights
- The South Korea telehealth market generated a revenue of USD 3,059.6 million in 2023 and is expected to reach USD 17,424.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 28.2% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating product in 2023.
- Software is the most lucrative product segment registering the fastest growth during the forecast period.
Telehealth market data book summary
| Market revenue in 2023 | USD 3,059.6 million |
| Market revenue in 2030 | USD 17,424.3 million |
| Growth rate | 28.2% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | Koninklijke Philips NV, GE HealthCare Technologies Inc Common Stock, Oracle Corp, Siemens Healthineers AG ADR, Medtronic PLC, Teladoc Health Inc, American Well Corp Ordinary Shares - Class A, Evernorth, Doctor On Demand, Global Med Technologies |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.0% of the global telehealth market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China telehealth market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 17,424.3 million by 2030.
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Telehealth Market Scope
Telehealth Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea telehealth 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 telehealth market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 47.24% in 2023. Horizon Databook has segmented the South Korea telehealth market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea, despite being one of the most advanced countries in both healthcare and digital sectors, has been slow in becoming a digital healthcare hub in East Asia. Strict regulations and limited market presence are restricting the adoption of innovative technologies in the country’s healthcare industry.
To boost digital adoption in healthcare, the South Korean government started a pilot project in the first half of 2018 with fundamental investments in digitalization of the country’s healthcare system.
The South Korean market is anticipated to grow rapidly over the coming years owing to the increase in healthcare IT spending, advancing healthcare infrastructure, rapidly growing geriatric population coupled with rising chronic diseases burden, increasing digital literacy, and growing awareness levels.
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Target buyers of South Korea telehealth market databook
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Our clientele includes a mix of telehealth 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea telehealth market , including forecasts for subscribers. This country databook contains high-level insights into South Korea telehealth market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea telehealth market size, by product, 2018-2030 (US$M)
South Korea Telehealth Market Outlook Share, 2023 & 2030 (US$M)
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