As per MRFR analysis, the South Korea Neurology Devices Market Size was estimated at 363.8 (USD Million) in 2023.The South Korea Neurology Devices Market Industry is expected to grow from 392.25(USD Million) in 2024 to 897.87 (USD Million) by 2035. The South Korea Neurology Devices Market CAGR (growth rate) is expected to be around 7.819% during the forecast period (2025 - 2035).
The South Korea Neurology Devices Market is observing important changes due to new technologies and increased focus on neurology health. Growth in the older population coupled with the growing prevalence of stroke, epilepsy, and other neurological disorders has increased the demand for innovative neurology devices. The government in South Korea is putting significant funds in health systems, developing programs that improve patient treatment and technology available to them. This has spurred local manufacturers to devote attention to the R&D and design of advanced devices for specific neurological conditions.
In addition, the enablement of automation and machine learning changes the market with the appropriate AI diagnostic tools. These innovations improve the outcomes patients receive by providing early diagnosis and better planned individual treatment. Telemedicine also became popular after the COVID-19 pandemic, allowing patients, particularly in rural areas, to have better access to medical services. This is in line with the government’s efforts on shifting to digital healthcare. There are many opportunities in the South Korean market, especially in design and development of wearable neurological devices that monitor health conditions in real-time.
A rise in the interest in home-based tracking solutions is observed since they offer patients greater control and ease in following their treatment plans. With the collaboration of tech companies and healthcare practitioners, prominent solutions to the changing face of neurological care are bound to emerge. Recently, the adoption of advanced neurosurgery has made treating patients with modern neurological devices more accessible. Thus, South Korea’s neurology devices market would greatly take advantage from new innovations and government investment, along with an appeal to patients and their wellbeing, as the healthcare sector integrates more philosophy of technology.
The South Korea Neurology Devices Market Industry is significantly driven by the increasing prevalence of neurological disorders such as Alzheimer's disease, Parkinson's disease, and epilepsy. According to the Korean Neuropsychiatric Association, neurological disorders account for approximately 7% of the national disease burden, with the number of dementia patients projected to reach 3 million by 2060. This alarming statistic emphasizes the urgent need for advanced neurology devices, enhancing the market's growth prospects.Additionally, the South Korean government is actively updating its healthcare policies to ensure better patient care in neurology, which increases the demand for cutting-edge devices in the market.
Technological innovations significantly contribute to the growth of the South Korea Neurology Devices Market Industry. With advancements in neuromodulation techniques, imaging technologies, and wearable devices, healthcare providers are employing more effective treatments for neurological conditions. The Ministry of Health and Welfare in South Korea has reported a 40% increase in funding for Research and Development (R&D) of advanced medical technologies over the past five years.This fiscal support encourages local companies to innovate and develop sophisticated neurology devices, thereby boosting market expansion.
The South Korean government is heavily investing in healthcare infrastructure and policies aimed at improving neurological health services. In 2020, the government allocated approximately 200 billion South Korean won to enhance neurological care services and support device manufacturers. This commitment fosters a conducive environment for growth in the South Korea Neurology Devices Market Industry as it enables easier access to funding and resources for device development.The renewed focus on patient-centered care is pivotal for driving the demand for advanced neurology devices across hospitals and clinics nationwide.
The demographic shift towards an aging population in South Korea has a profound impact on the South Korea Neurology Devices Market Industry. By 2030, it is estimated that over 20% of South Korea's population will be aged 65 and above, according to Statistics Korea. As this demographic is particularly vulnerable to neurological conditions, the demand for specialized neurology devices will significantly increase. Furthermore, the National Health Insurance Service has begun to expand coverage for neurological treatments for the elderly, further stimulating market growth as more patients gain access to necessary devices and therapies.
The South Korea Neurology Devices Market encompasses a diverse range of product types that are pivotal to advancing neurological care and treatment. Within this market, neurostimulation devices play an essential role by providing therapeutic solutions for various neurological disorders, including epilepsy and chronic pain management. These devices utilize electrical impulses to modulate nerve activity and have gained traction due to increasing acceptance and integration in clinical practice.
Interventional neurology is another critical segment, focusing on minimally invasive techniques for diagnosing and treating complex neurovascular disorders, such as aneurysms and strokes.This segment is particularly significant as it reduces recovery time and enhances patient outcomes, reflecting a shift towards less invasive treatment methodologies. The CSF management segment addresses crucial needs around the management of cerebrospinal fluid, vital for patients with conditions like hydrocephalus.
These devices facilitate proper drainage and pressure regulation, improving quality of life. Lastly, neurosurgery devices, which include tools and equipment used in surgical procedures concerning the nervous system, are indispensable in enabling complex surgical interventions.This segment is characterized by innovation and technological advancements, aiming to enhance precision and safety in surgical procedures.
The interplay among these various product types illustrates the dynamic nature of the South Korea Neurology Devices Market, which is bolstered by a supportive healthcare infrastructure, significant Research and Development initiatives, and an increasing prevalence of neurological conditions, creating numerous opportunities for growth and innovation in this critical field.
The End User segment of the South Korea Neurology Devices Market is composed mainly of hospitals and clinics, along with specialty centers. Hospitals and clinics play a key role in the delivery of neurology services, as they provide essential healthcare infrastructure for diagnosis and treatment. These establishments are equipped with advanced technology and skilled neurologists, contributing significantly to the growth of the South Korea Neurology Devices Market revenue.
Specialty centers, focused on neurology and related fields, offer tailored services and treatments, making them important for comprehensive patient care.The demand in these areas is driven by the increasing prevalence of neurological disorders in South Korea, alongside a growing focus on enhancing healthcare services. Moreover, the collaboration between hospitals and specialty centers allows for a streamlined approach to patient treatment, fostering innovation in device utilization and encouraging enhanced patient outcomes.
As the healthcare sector in South Korea continues to evolve, these end users are expected to adapt, leveraging new neurology devices to meet the growing health demands. This segment underlines the dynamic nature of the South Korea Neurology Devices Market statistics, reflecting both technological advancements and changing patient needs.
The South Korea Neurology Devices Market presents a dynamic landscape characterized by rapid advancements in technology and increasing healthcare demands related to neurological conditions. As this market continues to evolve, key players are vying for market share by innovating and tailoring their products to meet the unique needs of the South Korean population.
The competitive environment is influenced not only by technological advancements but also by regulatory changes, collaborations, and partnerships among companies striving to enhance patient outcomes. Companies within this sector are focusing on diverse neurology devices, including diagnostic equipment, monitoring systems, and treatment devices, making it crucial for each player to maintain a strategic edge over competitors.Johnson & Johnson has established a significant presence in the South Korean Neurology Devices Market, reinforced by its reputation for quality and innovation.
The company leverages its extensive research and development capabilities to deliver a range of neurology products that cater specifically to the needs of healthcare professionals and patients in South Korea. With a commitment to integrating advanced technologies into its devices, Johnson & Johnson has successfully launched several neuromodulation solutions that are designed to address various neurological disorders.
The company’s strong distribution network and partnerships with local healthcare institutions enhance its market access and make its products highly accessible to both specialists and patients. Johnson & Johnson's ongoing investment in training and education for healthcare providers further solidifies its position as a leader in the region.NeuroSigma operates within the South Korea Neurology Devices Market with a focus on innovative devices aimed at treating neurological disorders such as epilepsy and attention deficit hyperactivity disorder (ADHD). The company is known for its development of neurostimulation technologies, including the Monarch eTNS System, which has been shown to be effective in reducing seizure frequency and improving patient quality of life.
With a strong emphasis on research and collaboration, NeuroSigma has positioned itself as a key player in the region, utilizing clinical research and patient feedback to enhance its product offerings. The company's strategy includes forming strategic alliances and exploring mergers and acquisitions to expand its footprint and improve its technological capabilities. Through these efforts, NeuroSigma aims to deepen its market penetration and enhance the therapeutic options available to healthcare providers in South Korea, thereby playing an instrumental role in the evolving landscape of neurology care in the country.
The South Korea Neurology Devices Market has witnessed significant developments recently. In August 2023, Medtronic announced the launch of its innovative deep brain stimulation system designed for neurological conditions, providing advanced treatment options for patients. Meanwhile, in September 2023, NeuroSigma secured regulatory approval for its non-invasive neuromodulation device, aimed at treating epilepsy, which indicates growth in non-surgical solutions in the market.
Abbott Laboratories is also advancing with its Research and Development initiatives, focusing on next-generation neurostimulation devices to enhance patient outcomes. Notably, Boston Scientific expanded its product offerings in July 2023 by acquiring a niche technology that aims to improve neurovascular intervention procedures.
Additionally, there has been a noticeable increase in market valuation for companies like Stryker and Penumbra, highlighting a growing demand for advanced neurovascular devices following rising incidences of neurological disorders, especially among the aging population in South Korea. The government of South Korea is investing heavily in healthcare technology, further fueling the market's expansion and innovation. Growth in this segment is expected to impact healthcare delivery positively, addressing urgent neurological healthcare needs in the region.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 363.8(USD Million) |
| MARKET SIZE 2024 | 392.25(USD Million) |
| MARKET SIZE 2035 | 897.87(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.819% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Johnson & Johnson, NeuroSigma, Boston Scientific, Hellige, MageeWomens Research Institute, Abbott Laboratories, Medtronic, Stimwave, Penumbra, Nico Corporation, Stryker, Cerenovus, B. Braun Melsungen, NeuroPace, Elekta |
| SEGMENTS COVERED | Product Type, End User |
| KEY MARKET OPPORTUNITIES | Aging population increasing neurologic disorders, Growing demand for advanced diagnostic tools, Rise in telemedicine and remote monitoring, Government investment in healthcare technologies, Expanding research in neurostimulation therapies |
| KEY MARKET DYNAMICS | Increasing neurological disorders prevalence, Advancements in technology innovation, Growing aging population, Rising demand for minimally invasive procedures, Enhancements in healthcare expenditure |
| COUNTRIES COVERED | South Korea |
Frequently Asked Questions (FAQ) :
The South Korea Neurology Devices Market is expected to be valued at 392.25 million USD in 2024.
By 2035, the South Korea Neurology Devices Market is projected to reach approximately 897.87 million USD.
The expected compound annual growth rate (CAGR) for the South Korea Neurology Devices Market from 2025 to 2035 is 7.819%.
In 2035, the neurosurgery devices segment is anticipated to have the highest value at around 306.87 million USD.
The neurostimulation devices segment is valued at 80.0 million USD in 2024.
Key players in the market include Johnson & Johnson, Medtronic, Boston Scientific, and Abbott Laboratories, among others.
The interventional neurology segment is expected to grow to approximately 237.0 million USD by 2035.
The market value for CSF management devices is expected to reach around 170.0 million USD by 2035.
Emerging trends, advancements in technology, and increasing prevalence of neurological disorders present significant growth opportunities.
The South Korea Neurology Devices Market is positioned for substantial growth with an expected value increase from 392.25 million USD in 2024 to 897.87 million USD in 2035.
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