South Korea Orthopedic Soft Tissue Repair Market Size & Outlook
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South Korea orthopedic soft tissue repair market highlights
- The South Korea orthopedic soft tissue repair market generated a revenue of USD 100.9 million in 2023 and is expected to reach USD 195.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.9% from 2024 to 2030.
- In terms of segment, cruciate ligaments repair was the largest revenue generating application in 2023.
- Cruciate Ligaments Repair is the most lucrative application segment registering the fastest growth during the forecast period.
Orthopedic soft tissue repair market data book summary
| Market revenue in 2023 | USD 100.9 million |
| Market revenue in 2030 | USD 195.4 million |
| Growth rate | 9.9% (CAGR from 2023 to 2030) |
| Largest segment | Cruciate ligaments repair |
| Fastest growing segment | Cruciate Ligaments Repair |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Rotator Cuff Repair, Epicondylitis, Achilles Tendinosis Repair, Pelvic Organ Prolapse, Gluteal Tendon Repair, Cruciate Ligaments Repair, Hip Arthroscopy, Biceps Tenodesis |
| Key market players worldwide | Integra Lifesciences Holdings Corp, Arthrex, Smith & Nephew PLC, DePuy Synthes, Stryker Corp, Conmed Corp, Zimmer Biomet Holdings Inc, Boston Scientific Corp, B. Braun, Wright Medical Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.5% of the global orthopedic soft tissue repair market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan orthopedic soft tissue repair market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 360.7 million by 2030.
Cruciate ligaments repair was the largest segment with a revenue share of 39.94% in 2023. Horizon Databook has segmented the South Korea orthopedic soft tissue repair market based on rotator cuff repair, epicondylitis, achilles tendinosis repair, pelvic organ prolapse, gluteal tendon repair, cruciate ligaments repair, hip arthroscopy, biceps tenodesis covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea orthopedic soft tissue market is anticipated to be one of the growing markets in the Asia Pacific region. Key factors anticipated to drive this market are increasing prevalence of osteoarthritis, especially among the geriatric population of the country.
Furthermore, there is high demand for knee replacements in the country, owing to the growing medical tourism and low cost of replacement as well as repair surgeries as compared to other neighboring countries. In addition, growing geriatric population is boosting the market growth.
For instance, according to World Population Prospects 2019, around 15.1% of the total population of the country is aged above 65 years. These factors are expected to drive growth of orthopedic soft tissue market in the country over the forecast period.
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Orthopedic Soft Tissue Repair Market Scope
Orthopedic Soft Tissue Repair Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Wright Medical Group | View profile | 1001-5000 | Arlington, Tennessee, United States, North America | http://www.wright.com/ |
| Arthrex | View profile | 5001-10000 | Naples, Florida, United States, North America | https://www.arthrex.com/ |
| B. Braun | View profile | 10001+ | Chapeltown, Sheffield, United Kingdom, Europe | https://www.bbraun.co.uk |
| Conmed Corp | View profile | 4000 | 11311 Concept Boulevard, Largo, FL, United States, 33773 | https://www.conmed.com |
| Smith & Nephew PLC | View profile | 18452 | Hatters Lane, Building 5, Croxley Park, Watford, Hertfordshire, United Kingdom, WD18 8YE | https://www.smith-nephew.com |
| DePuy Synthes | View profile | 5001-10000 | Raynham, Massachusetts, United States, North America | https://depuysynthes.com |
| Integra Lifesciences Holdings Corp | View profile | 3946 | 1100 Campus Road, Princeton, NJ, United States, 08540 | https://www.integralife.com |
| Zimmer Biomet Holdings Inc | View profile | 18000 | 345 East Main Street, Warsaw, IN, United States, 46580 | https://www.zimmerbiomet.com |
| Boston Scientific Corp | View profile | 48000 | 300 Boston Scientific Way, Marlborough, MA, United States, 01752-1234 | https://www.bostonscientific.com |
| Stryker Corp | View profile | 52000 | 1941 Stryker Way, Portage, MI, United States, 49002 | https://www.stryker.com |
South Korea orthopedic soft tissue repair market size, by application, 2018-2030 (US$M)
South Korea Orthopedic Soft Tissue Repair Market Outlook Share, 2023 & 2030 (US$M)
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