Market Insights Health Medical Technology Medical Devices

Diabetes Care Devices - South Korea

South Korea

The projected revenue for the Diabetes Care Devices market market in South Korea is estimated to reach US$393.10m in 2024.
This represents a significant growth opportunity for the country's healthcare industry.
Furthermore, it is expected that the market will continue to expand at an annual growth rate of 12.47% from 2024 to 2028.
As a result, the market volume is anticipated to reach US$629.10m by 2028.
Despite the substantial growth potential in South Korea, it is worth noting that the United States is expected to generate the highest revenue in the global market.
In 2024, the United States is projected to generate a considerable revenue of US$11,560.00m.
This underscores the significance of the Diabetes Care Devices market market not only in South Korea but also on a global scale.
South Korea's diabetes care devices market is witnessing a surge in demand driven by advanced technology and government initiatives.

Key regions: United States, Spain, Germany, Europe, Japan

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Currency

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

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

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.