South Korea Ultrasound Devices Market Size & Outlook
South Korea ultrasound devices market, 2018-2030 (US$M)
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South Korea ultrasound devices market highlights
- The South Korea ultrasound devices market generated a revenue of USD 145.3 million in 2023 and is expected to reach USD 198.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, diagnostic ultrasound devices was the largest revenue generating product in 2023.
- Therapeutic Ultrasound Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Ultrasound devices market data book summary
| Market revenue in 2023 | USD 145.3 million |
| Market revenue in 2030 | USD 198.3 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic ultrasound devices |
| Fastest growing segment | Therapeutic Ultrasound Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic Ultrasound Devices, Therapeutic Ultrasound Devices |
| Key market players worldwide | Koninklijke Philips NV, GE HealthCare Technologies Inc Common Stock, Siemens Healthineers AG ADR, Canon Inc, Mindray Medical International, Samsung BioLogics, FUJIFILM Holdings Corp, Konica Minolta Inc, Esaote |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.5% of the global ultrasound 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 ultrasound devices 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 759.1 million by 2030.
Diagnostic ultrasound devices was the largest segment with a revenue share of 84.79% in 2023. Horizon Databook has segmented the South Korea ultrasound devices market based on diagnostic ultrasound devices, therapeutic ultrasound devices covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean government has been actively supporting the healthcare and life sciences industries. Investments in R&D, as well as funding initiatives, have encouraged the adoption of advanced technologies, such as ultrasound devices.
Moreover, to fulfill the regional and global demand for ultrasound devices, South Korea is considering all the essential steps to support the country’s major market players. With an increase in foreign demand for Korean-made ultrasound devices, domestic companies are aiming for global market with competitive services & prices.
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Ultrasound Devices Market Scope
Ultrasound Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea ultrasound devices market size, by product, 2018-2030 (US$M)
South Korea Ultrasound Devices Market Outlook Share, 2023 & 2030 (US$M)
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