South Korea Digital Health Market Growth, Size, Trends, Share, Demand and Future Outlook: SPER Market Research

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Published: Jul 2024	Report ID: HLCA2464	Pages: 1 - 105	Formats^*:
Category : Healthcare

South Korea Digital Health Market Introduction and Overview

According to SPER Market Research, the South Korea Digital Health Market is estimated to reach USD 4.82 billion by 2033 with a CAGR of 8.31%.

The report includes an in-depth analysis of the South Korea Digital Health Market, including market size and trends, product mix, applications, and supplier analysis. Digital health refers to the convergence of digital technologies with health, healthcare, living, and society to enhance the efficiency of healthcare delivery and make medicine more personalized and precise. It encompasses a wide range of technologies and platforms, including telemedicine, mobile health apps, wearable devices, artificial intelligence (AI), and electronic health records (EHRs). These innovations enable remote monitoring of patients, efficient management of chronic conditions, real-time data analytics for healthcare providers, and personalized treatment plans based on individual health data. Digital health aims to empower individuals to take an active role in their health management, improve access to healthcare services, optimize clinical outcomes, and ultimately, transform the healthcare industry by bridging gaps in care delivery and promoting preventive healthcare practices.

November 2023; Samsung Medison presented the WS80A with elite, a new AI powered ultrasoung system. By offering more accurate and thorough imaging, this technology is intented to enhance diagnoses in womenâ€™s and perinatal healthcare and help medical professionals make more knowledgeable clinical decisions.

January 2024; Huinno was able to raise a substantial amount of money to develop MEMO Watch, a wearable health monitoring device. By continually monitoring vital signs and giving patients and healthcare professionals access to real-time data, this gadget focuses on managing chronic diseases and promoting improved disease management and preventive treatment.

Market Opportunities and Challenges

Opportunities- IT businesses are increasing the adoption of eHealth solutions like telemedicine, laboratory management systems, and clinical decision support systems that boost productivity in healthcare facilities through a variety of implementation tactics. Companies that inform payers and medical professionals about the necessity of follow-up care after clinical therapies are having success with their implementation. Businesses in the digital health space are working to enhance deep medical learning to forecast an individual's risk for dementia and Parkinson's disease. Some businesses are becoming more adept at using artificial medical intelligence (AI) to spot potential trends in patient illness.

Challenges- Concerns about security and privacy are crucial and have a big influence in the digital health space. The main source of the problem is the massive data collection that digital health products entail. PHI, or personally identifiable health information, is defined as any information that is created, gathered, transmitted, or kept by HIPAA-covered organizations for the purpose of providing, paying for, or managing healthcare. On the underground market, medical information is highly sought after. This precious resource is used by thieves to make false insurance claims and purchase medical equipment illegally, which raises concerns about the number of compromised medical information.

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Market Competitive Landscape

The South Korea Digital Healths Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are 3billion, DeepBio, Huinno, Laon People, LifeSemantics, Lunit, Noom Korea, Samsung Medison, SK Telecom, Vuno, Others.

Scope of the Report:

Report Metric	Details
Market size available for years	2020-2033
Base year considered	2023
Forecast period	2024-2033
Segments covered	By Revenue Model, By Technology, By Component
Regions covered	Northern Region, Southern Region, Western Region, Eastern Region, Central Region
Companies Covered	3billion, DeepBio, Huinno, Laon People, LifeSemantics, Lunit, Noom Korea, Samsung Medison, SK Telecom, Vuno, Others.

COVID-19 Impact on South Korea Digital Health Market

The COVID-19 epidemic hastened the expansion of the digital health business in South Korea. To control the spike in healthcare demand and reduce infection risks, it sped up the deployment of telemedicine, remote monitoring, and AI-driven diagnostics. The crisis made clear how important it is to have reliable digital health solutions, which encouraged more investment and innovation in the field. The advancement and integration of digital health technology were further supported by government backing and regulatory flexibility, which revolutionized patient management and healthcare delivery in South Korea.

Key Target Audience:

Healthcare Providers
Patients
Insurance Companies
Pharmaceutical and Biotechnology Companies
Medical Device Manufacturers
Tech and IT Companies
Investors and Venture Capitalists

Our in-depth analysis of the South Korea Digital Health Market includes the following segments:

By Revenue Model:	Subscription Pay Per Service Free Apps
By Technology:	Wearables MHealth Tele healthcare RPM LTC Monitoring Others
By Component:	Hardware Software Service

Key Topics Covered in the Report:

South Korea Digital Health Market Size (FYâ€™2024-FYâ€™2033)
Overview of South Korea Digital Health Market
Segmentation of South Korea Digital Health Market by Revenue Model (Subscription, Pay Per Service, Free Apps)
Segmentation of South Korea Digital Health Market by Technology (Wearables, MHealth, Tele Healthcare, RPM, LTC Monitoring, Others)
Segmentation of South Korea Digital Health Market by Component (Hardware, Software, Service)
Statistical Snap of South Korea Digital Health Market
Expansion Analysis of South Korea Digital Health Market
Problems and Obstacles in South Korea Digital Health Market
Competitive Landscape in the South Korea Digital Health Market
Impact of COVID-19 and Demonetization on South Korea Digital Health Market
Details on Current Investment in South Korea Digital Health Market
Competitive Analysis of South Korea Digital Health Market
Prominent Players in the South Korea Digital Health Market
SWOT Analysis of South Korea Digital Health Market
South Korea Digital Health Market Future Outlook and Projections (FYâ€™2024-FYâ€™2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERâ€™s internal database
2.1.4. Premium insight from KOLâ€™s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Digital Health Market.

5. Market variable and outlook

5.1. SWOT Analysis

5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERâ€™s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. South Korea Digital Health Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Digital Health Market

7. South Korea Digital Health Market, By Revenue Model (USD Million) 2020-2033

7.1. South Korea Digital Health Market Size, Share and Forecast, By Revenue Model, 2020-2026
7.2. South Korea Digital Health Market Size, Share and Forecast, By Revenue Model, 2027-2033
7.3. Subscription
7.4. Pay Per Service
7.5. Free Apps

8. South Korea Digital Health Market, By Technology(USD Million) 2020-2033

8.1. South Korea Digital Health Market Size, Share and Forecast, By Technology, 2020-2026
8.2. South Korea Digital Health Market Size, Share and Forecast, By Technology, 2027-2033
8.3. Wearables
8.4. MHealth
8.5. Tele healthcare
8.6. RPM
8.7. LTC Monitoring
8.8. Others

9. South Korea Digital Health Market, By Component(USD Million) 2020-2033

9.1. South Korea Digital Health Market Size, Share and Forecast, By Component, 2020-2026
9.2. South Korea Digital Health Market Size, Share and Forecast, By Component, 2027-2033
9.3. Hardware
9.4. Software
9.5. Service

10. South Korea Digital Health Market Forecast, 2020-2033 (USD Million)

10.1. South Korea Digital Health Market Size and Market Share

11. South Korea Digital Health Market, By Region, 2020-2033 (USD Million)

11.1. South Korea Digital Health Market Size and Market Share By Region (2020-2026)
11.2. South Korea Digital Health Market Size and Market Share By Region (2027-2033)
11.3. Northern Region
11.4. Southern Region
11.5. Western Region
11.6. Eastern Region
11.7. Southern Region

12. Company Profile

12.1. 3BILLION
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. DEEPBIO
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. HUINNO
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. LAON PEOPLE
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. LIFESEMANTICS
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. LUNIT
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. NOOM KOREA
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. SAMSUNG MEDISON
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. VUNO
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Others

13. Conclusion

14. List of Abbreviations

15. Reference Links

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

SPER-Methodology-1

SPER-Methodology-2

SPER-Methodology-3

Frequently Asked Questions About This Report

How big is South Korea Digital Health Market?

South Korea Digital Health Market is projected to reach USD 4.82 billion by 2033, growing at a CAGR of 8.31% during the forecast period.

What is the growth rate of South Korea Digital Health Market?

South Korea Digital Health Market grew in market size from 2024. The Market is expected to reach USD 4.82 8.58 billion by 2033, at a CAGR of 8.31% during the forecast period.

What is the anticipated CAGR of South Korea Digital Health Market during the forecast period?

South Korea Digital Health Market CAGR of 8.31% during the forecast period.

How can I get a sample report on South Korea Digital Health Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of South Korea Digital Health Market?

South Korea Digital Health Market size is USD 4.82 billion from 2024 to 2033.

Which segment is expected to lead South Korea Digital Health Market?

South Korea Digital Health Market Segment is Covered By Revenue Model, By Technology, By Component

Which region is expected to have the highest market share in South Korea Digital Health Market?

The Asia-Pacific region is anticipated to have the highest market share in South Korea Digital Health Market.

Who are the key players in South Korea Digital Health Market?

The key players in the market include Companies Covered 3billion, DeepBio, Huinno, Laon People, LifeSemantics, Lunit, Noom Korea, Samsung Medison, SK Telecom, Vuno, Others.

What is the conclusion of South Korea Digital Health Market?

IT businesses are increasing the adoption of eHealth solutions like telemedicine, laboratory management systems, and clinical decision support systems that boost productivity in healthcare facilities through a variety of implementation tactics.