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The South Korea Patient Monitoring Market is segmented by Type of Device, Application (Cardiology, Neurology, Respiratory, Fetal and Neonatal, Weight Management and Fitness Monitoring, and Other Applications) and End-User
2018 - 2026
The South Korea Patient Monitoring Market is expected to register a CAGR of 4.3% during the forecast period, owing to the factors such as the increasing burden of chronic disorders and growing preference for home and remote monitoring.
In South Korea, there is an increasing respiratory disease burden. For instance, according to a research article by Jung Yeon Heo et al., published in PLOS ONE Journal 2018, the incidence of community-acquired pneumonia (CAP) was 307.7 cases per 100,000 persons per year with an in-hospital mortality rate of 6.2%. The estimated annual incidence of pneumococcal pneumonia was 42.2 to 49.4 cases per 100,000 persons per year, increasing with age. The annual incidence of invasive pneumococcal diseases (IPD) had a range of 4.1 to 6.5 cases per 100,000 persons per year.
The above study results confirm that incidences of community-acquired pneumonia (CAP), pneumococcal pneumonia (PP), and invasive pneumococcal diseases (IPD) were consistently high, particularly in older people. This indicates rising respiratory-related diseases is expected to increase use of patient monitoring devices in the management of disease which shows positive impact on market growth.
In addition, according to a retrospective study by Hyungtae Kim et al., published in BMC Public Health Journal 2019, in South Korea, thre is a high prevalence and incidence of atherosclerotic cardiovascular disease (ASCVD) and its risk factors in the adult population. The prevalence and incidence of ASCVD continued to increase with age until 79 years. Therefore the growing burden of such diseases is expected to increase the demand for monitoring systems in the market during the forecast period.
As per the scope of this report, patient monitoring devices are monitoring devices that continuously monitor the patient’s vital parameters, like blood pressure and heart rates, by using a medical monitor and collecting medical (and other) data from individuals. The South Korea Patient Monitoring Market is segmented by type of device, application and end-user.
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In South Korea, the adoption of a sedentary lifestyle such as physical inactivity, poor diet, high consumption of sugar, etc. has led to many of the chronic conditions such as diabetes, obesity, cardiovascular diseases, and others.
According to the World Ageing 2019 report, estimates that a number of the population who are above 65 years of age in South Korea was 7.715 million (15.1%) in 2019 which is projected to reach 12.658 million (24.7%) in 2030. As the number of geriatric population is expected to increase in coming years who are more prone to chronic diseases such as diabetes and other diseases which ultimately rises the growth of the market in near future. Hence, it has become essential to manage the patient's overall health and therefore all these factors are expected to increase the demand for weight management & fitness monitoring.
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The South Korea Patient Monitoring Market is fragmented. The market players in the Japan Patient Monitoring Market are General Electric Company (GE Healthcare), Nihon Kohden Corporation, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Abbott Laboratories, Medtronic Plc, Edwards Lifesciences Corporation, OMRON Corporation and others.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Chronic Diseases due to Lifestyle Changes
4.2.2 Growing Preference for Home and Remote Monitoring
4.3 Market Restraints
4.3.1 High Cost of Technology
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Device
5.1.1 Hemodynamic Monitoring Devices
5.1.2 Neuromonitoring Devices
5.1.3 Cardiac Monitoring Devices
5.1.4 Multi-parameter Monitors
5.1.5 Respiratory Monitoring Devices
5.1.6 Remote Patient Monitoring Devices
5.1.7 Other Types of Devices
5.2 By Application
5.2.4 Fetal and Neonatal
5.2.5 Weight Management and Fitness Monitoring
5.2.6 Other Applications
5.3 By End Users
5.3.1 Home Healthcare
5.3.2 Hospitals and Clinics
5.3.3 Other End Users
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 General Electric Company (GE Healthcare)
6.1.2 Nihon Kohden Corporation
6.1.3 Koninklijke Philips N.V.
6.1.4 Dragerwerk AG & Co. KGaA
6.1.5 Abbott Laboratories
6.1.6 Medtronic Plc
6.1.7 Edwards Lifesciences Corporation
6.1.8 OMRON Corporation
6.1.9 Dexcom, Inc
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments