The South Korea smart healthcare industry is expected to grow at a CAGR of 8.10% between 2025 and 2034. The government’s initiatives in digitalising the healthcare system of South Korea along with an increased emphasis on research and development are majorly driving the smart healthcare market of South Korea.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
8.1%
Value in USD Million
2025-2034
South Korea Smart Healthcare Market Outlook
*this image is indicative*
Several trends and developments are being observed in the market to enhance the current situation. Some of the noteworthy trends are as follows:
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Research and Innovation in the Healthcare Market of South Korea
A new SmartTag Health Screening System is being developed by the Singapore-based healthcare technology company Cadi Scientific in collaboration with Choongwae Information Technology, a pioneer in healthcare IT in Korea. The Samsung Medical Center, Korea's top healthcare facility for health promotion, performs health screenings and has installed the SmartTag Health Screening System. The RFID system from Cadi Scientific comprises different kinds of SmartNodes and a SmartTag. While the SmartNode is installed on the walls or the back of tablet computers used by clinic personnel, the SmartTag is placed in the patient's pocket.
This specific smart system offers a range of information, assisting patients in finding prompt answers to their questions. It will facilitate better communication and cut down on patient wait times. Both the patient and the doctor may see information on the LCD panel, which raises everyone's levels of satisfaction. The success of the RFID project at the Samsung Medical Center has improved the RFID solutions in South Korea, thereby augmenting the smart healthcare market growth in the country.
High Internet Facility and the Emergence of ICT, and AI in the Smart Healthcare System of South Korea
Modern information and communication technology (ICT) breakthroughs are being used to improve healthcare services in "smart hospitals." Hospitals have incorporated robots, artificial intelligence, and other Fourth Industrial Revolution-related technology, boosting hopes for advancements in the accuracy of illness detection and treatment. There is a growing need to minimise national medical expenditures by connecting with other associated medical facilities such as pharmacies, clinics, and rehabilitation centres, integrating cutting-edge information and communication technology (ICT) and delivering "patient-centred care" facilities in which patients have access to diverse health information and may pick their own treatment techniques. For these reasons, major nations, including South Korea, are promoting numerous support measures to encourage industrial growth connected to smart hospitals, and the South Korea market for smart healthcare is growing.
The Rise in the Ageing Population and the Crisis Brought on by the COVID-19 Pandemic Bolster the Growth of Smart Healthcare in South Korea.
with Due to the expanding integration of AI-based technologies with assisted living and the emergence of ultra-modern healthcare options like e-health and mHealth, the applications of these technologies are growing in South Korea leading to the expansion of the healthcare market over the past few years. Some of the key factors that are anticipated to contribute to the market's growth include rising disposable income and expanding cloud technology used in healthcare services. South Korea has a large proportion of an ageing population, which makes providing quality geriatric healthcare one of the prime concerns in the country. Additionally, the COVID-19 pandemic has made health and RPM (remote patient monitoring) more popular in the country. Such technical assistance enables practitioners to keep a track of patients' health without coming into direct physical contact, avoiding the spread of the coronavirus or any other communicable diseases.
The RECARE 2023 Exhibition Provided Growth Opportunities for Smart Healthcare Firms to Expand Their Business in Korea and Overseas
The "2022 Rehabilitation & Care Korea," also known as the RECARE 2023 expo, was held in Ilsan, South Korea and brought together and displayed the most recent national and international rehabilitation technology, welfare goods, and services. The RECARE 2023 programme aimed at improving commercial prospects for Korean firms while enhancing the competitiveness of the medical system's rehabilitation and welfare sector. Rehabilitation medical and training devices that use smart technology were on display at the expo. These devices included orthopaedic medical devices, pharmaceutical devices, wearable robots, wearable robots with software, and gadgets that showcased smart technologies, convergence technologies, and functional robot technologies, among others.
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“South Korea Smart Healthcare Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Recent research investigated the application of IoT and machine learning to diagnose COVID-19 patients. The machine learning and IoT-based suggested model may be used as a system for supporting clinical decisions in the coming future. Additionally, it is anticipated that it will help lessen the excessive burden on medical professionals and address the COVID-19-related issue of patient overcrowding. Personal health records (PHRs), a type of mobile health record system, are designed to enable self-monitoring and management by gathering data such as weight, activity level, and blood sugar levels from mobile phones as well as information on treatments and examinations from various medical facilities.
Smart pills, smart syringes, electronic healthcare products, etc. are a few of the most common types of smart healthcare products. The rise in chronic diseases, including diabetes, heart disease, and cancer, among others, is a major factor in the smart healthcare market's expansion. Integrating the two-bin kanban replenishment system with RFID technology improves hospital procedures and minimises waste such as expired items, surplus inventory, and personnel movements. Because of rising smartphone usage and digitalization, mHealth adoption has lately expanded dramatically. The need for smart healthcare systems is projected to increase due to the increasing use of mHealth, government efforts to digitise healthcare, and the growth of chronic diseases among populations.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea smart healthcare market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Lemon Healthcare is a mobile healthcare company. The developers of medical software intend to link patients with healthcare facilities and build a smart healthcare network. Users may quickly access a patient's whole procedure from smartphone to hospital visit with the help of the company's M-Care, a patient-centered two-way service platform. Its headquarters are in Seoul, South Korea, and it was established in 2017. Lemon Healthcare's investors include Hanwha Asset Management, Shinhan Investment Corp., Shinhan Capital, Mirae Asset Financial Group, Korea Development Bank, and six other companies.
The medical technology firm Siemens Healthcare GmbH is a division of Siemens AG, that creates, develops, manufactures, and sells clinical and workflow systems and solutions and diagnostic imaging equipment, among others. The company's key products include mobile C-arms, hybrid operating rooms, angiography systems, computed tomography systems, ultrasound systems, and magnetic resonance imaging systems, among others. Additionally, it provides business and digital services. Health care providers served by Siemens Healthcare GmbH include clinics, doctors, hospitals and hospital systems, laboratories, public health organisations, universities, state-run and commercial health insurance, pharmaceutical firms, and clinical research institutions. The corporation has operations in Europe, the USA, the Middle East, Africa, and Asia. The headquarters are situated in Erlangen, Germany.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market are Dr. Now Co., Ltd, iCOOP Co., Ltd, Apple Inc., LG Electronics Co., Ltd. among others.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 8.10% between 2025 and 2034.
The major drivers of the smart healthcare industry in South Korea are research and innovation in the healthcare sector, high internet facilities, expo and exhibition events, the surge of ICT and AI in the country, the rise in the ageing population, an increase in disposable income, busy lifestyles and a high standard of living.
The key industry trends of the smart healthcare market in South Korea are the emergence of smart hospitals and the government’s support for the digitalization of the healthcare system.
The key players in the South Korea smart healthcare industry are Lemon Healthcare Co., Ltd., Dr. Now Co., Ltd., iCOOP Co., Ltd, Apple Inc., Siemens Healthcare GmbH, and LG Electronics Co., Ltd., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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