Outpatient Care - South Korea

South Korea

In South Korea, the Outpatient Care market is expected to see significant growth in the coming years.
By 2024, revenue in this market is projected to reach US$17.79bn.
This indicates a positive trend and highlights the demand for outpatient services in the country.
Looking ahead, the market is expected to continue its growth trajectory with an annual growth rate of 9.43% from 2024 to 2029.
By the end of this period, the market volume is forecasted to reach US$27.92bn.
This steady growth reflects the increasing need for outpatient care and the evolving healthcare landscape in South Korea.
In comparison to other countries, in the United States is anticipated to generate the highest revenue in the Outpatient Care market.
In 2024 alone, in the United States is projected to generate a substantial revenue of US$744.80bn.
This highlights the significant market size and potential opportunities in the United States for outpatient care providers.
Overall, the Outpatient Care market in South Korea is poised for growth, with revenue expected to reach impressive figures in the coming years.
This presents a promising opportunity for both domestic and international players in the healthcare industry to tap into this market segment and contribute to the advancement of outpatient care services.
The demand for outpatient care services in South Korea is driven by an aging population and a growing emphasis on preventive healthcare.

Key regions: France, Germany, United Kingdom, Canada, United States

Market

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Currency

Analyst Opinion

The Outpatient Care market in South Korea has been experiencing significant growth in recent years.

Customer preferences: South Korea's aging population has led to an increase in demand for healthcare services, including outpatient care. Additionally, there is a growing preference for outpatient care services due to the convenience of receiving medical treatment without the need for hospitalization.

Trends in the market: The Outpatient Care market in South Korea is experiencing a shift towards specialized medical services, such as cancer treatment and cosmetic surgery. This is due to the increasing demand for these services and the development of new medical technologies and treatments.

Local special circumstances: South Korea's healthcare system is heavily regulated by the government, which has led to a high level of standardization in the Outpatient Care market. This has resulted in a high level of trust in healthcare providers and a focus on quality of care.

Underlying macroeconomic factors: South Korea's strong economy has led to increased spending on healthcare, including outpatient care. Additionally, the country's technological advancements and highly educated workforce have contributed to the development of new medical treatments and technologies.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.