South Korea Patient Monitoring Market Size, Growth | 2031
South Korea Patient Monitoring Market Size, Growth | 2031
Segments - South Korea Patient Monitoring Market by Types of Device, Applications (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management & Fitness Monitoring, and Others) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-3777
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| 202 Pages
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Report Description
South Korea Patient Monitoring Market Outlook
The South Korea Patient Monitoring Market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031 expanding at a CAGR of 4.3% during 2023 – 2031. The growth of the market is attributed to increasing burden of chronic diseases in the country.
The patient monitoring system is a set of system or process that enables healthcare provider to monitor a patient’s health. The example of patients monitoring system is an electrocardiography that monitor the electrical activity of the heart.
The monitoring devices are collecting data of vital parameters such as blood pressure and heart rates. The various types of patient monitoring systems are available such as portable, real-time, and wireless. They have main two types bedside patient monitoring system and remote patient monitoring system.
The COVID-19 pandemic affected the demand and supply of South Korea patient monitoring market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. The demand for patient monitoring system and launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing prevalence of diseases in the country is expected to drive the South Korea patient monitoring market.
- Increasing respiratory related diseases is requiring the patient monitoring system which is expected to fuel the South Korea patient monitoring market during the forecast period.
- Research and development in the medical sector and people are curious about the health this is projected to boost the South Korea patient monitoring market during the forecast period.
- High cost of patient monitoring systems is expected to hamper the South Korea patient monitoring market during the forecast period.
- Some of faulty and inaccurate monitoring devices resulting wrong treatment to the patient is projected to hinder the market growth.
- People are curious about health hence, new methods developed to reduce cost is fueling the South Korea patient monitoring market during the forecast period.
Scope of South Korea Patient Monitoring Market Report
The report on the South Korea patient monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Patient Monitoring Market - South Korea Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Applications (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management & Fitness Monitoring, and Others) |
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Regional Scope |
South Korea |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Nihon Kohden Corporation; Abbott Laboratories; General Electric Company (GE Healthcare); Dragerwerk AG & Co. KGaA; Koninklijke Philips N.V. |
South Korea Patient Monitoring Market Segment Insights
The weight management and fitness monitoring segment are expected to grow at a rapid pace
Based on applications, the South Korea patient monitoring market is divided into cardiology, neurology, respiratory, fetal & neonatal, weight management & fitness monitoring, and other applications. The weight management & fitness monitoring segment is expected to grow at a rapid pace during the forecast period due to adoption of sedentary lifestyle such as poor diet, high consumption of sugar, physical inactivity has led to many chronic diseases such as obesity, diabetes, cardiovascular diseases, and others.
As in the South Korea geriatric population is expected to increase in the coming years who are more prone to chronic diseases such as diabetes and other diseases is expected to drive the market during forecast period. However, the respiratory segment is anticipated to hold a key market share during the forecast period owing to increasing respiratory related diseases such as pneumococcal pneumonia (PP), invasive pneumococcal diseases (IPD) in the aged people required patient monitoring system is expected to fuel the South Korea patient market during the forecast period.
According to the research article by Jung Yeon Heo et al., published in PLOS ONE Journal 2018, incidences of community-acquired pneumonia (CAP) was 307.7 cases per 10000 persons per year.
Segments
The South Korea patient monitoring market has been segmented on the basis of
Applications
- Cardiology
- Neurology
- Respiratory
- Fetal and Neonatal
- Weight Management & Fitness Monitoring
- Others
Key Players
- Nihon Kohden Corporation
- Abbott Laboratories
- General Electric Company (GE Healthcare)
- Dragerwerk AG & Co. KGaA
- Koninklijke Philips N.V.
Competitive Landscape
Key players competing in the South Korea patient monitoring market include Nihon Kohden Corporation; Abbott Laboratories; General Electric Company (GE Healthcare); Dragerwerk AG & Co. KGaA; Koninklijke Philips N.V.
These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market.
Frequently Asked Questions
The market is segmented by applications, including cardiology, neurology, respiratory, fetal & neonatal, weight management & fitness monitoring, and others.
The report covers historic data from 2016–2021 and provides forecasts for the period 2023–2031.
Major companies covered in the report include Nihon Kohden Corporation, Abbott Laboratories, General Electric Company (GE Healthcare), Dragerwerk AG & Co. KGaA, and Koninklijke Philips N.V.
High costs of patient monitoring systems and the risk of faulty or inaccurate devices leading to incorrect treatments are major restraints for the market.
The weight management and fitness monitoring segment is expected to grow rapidly due to lifestyle changes and rising chronic diseases. The respiratory segment is also anticipated to hold a significant market share due to increasing respiratory illnesses among the elderly.
The main types include bedside patient monitoring systems and remote patient monitoring systems, with various options such as portable, real-time, and wireless devices.
The COVID-19 pandemic disrupted the demand and supply chain, causing temporary declines in market growth. However, the demand for patient monitoring systems increased due to the pandemic, and the launch of vaccines is expected to contribute to future market growth.
Key drivers include the increasing prevalence of chronic and respiratory diseases, advancements in medical research and development, growing health awareness, and the rising geriatric population in South Korea.
Patient monitoring systems are devices or processes that enable healthcare providers to monitor a patient’s health by collecting data on vital parameters such as blood pressure and heart rate. Examples include electrocardiography, bedside monitors, and remote patient monitoring systems.
The South Korea patient monitoring market was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 4.3% during 2023–2031.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Patient Monitoring Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Patient Monitoring Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Patient Monitoring Market - Supply Chain
4.5. Global Patient Monitoring Market Forecast
4.5.1. Patient Monitoring Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Patient Monitoring Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Patient Monitoring Market Absolute $ Opportunity
5. Global Patient Monitoring Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Patient Monitoring Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Patient Monitoring Demand Share Forecast, 2019-2026
6. North America Patient Monitoring Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Patient Monitoring Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Patient Monitoring Demand Share Forecast, 2019-2026
7. Latin America Patient Monitoring Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Patient Monitoring Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Patient Monitoring Demand Share Forecast, 2019-2026
8. Europe Patient Monitoring Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Patient Monitoring Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Patient Monitoring Demand Share Forecast, 2019-2026
9. Asia Pacific Patient Monitoring Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Patient Monitoring Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Patient Monitoring Demand Share Forecast, 2019-2026
10. Middle East & Africa Patient Monitoring Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Patient Monitoring Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Patient Monitoring Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Patient Monitoring Market: Market Share Analysis
11.2. Patient Monitoring Distributors and Customers
11.3. Patient Monitoring Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Nihon Kohden Corporation
11.4.2. Abbott Laboratories
11.4.3. General Electric Company (GE Healthcare)
11.4.4. Dragerwerk AG & Co. KGaA
11.4.5. Koninklijke Philips N.V.
Methodology
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