South Korea Digital Health Market Outlook and Forecast to 2033 – Electronic Health Records, Regulatory Approved Apps and Telehealth

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Published: August 05, 2024 Report Code: GDME0107MDB-ST

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South Korea Digital Health Market Overview

The South Korea digital health market size was valued at $84.4 million in 2023. Digital health refers to the utilization of information and communication technologies in medicine and other health-related fields to control diseases and health risks as well as to encourage well-being. Digital health has a broad scope and includes the use of wearable devices, mobile health, telehealth, health information technology, and telemedicine.

South Korea Digital Health Market Outlook, 2023-2033 ($ Million)

South Korea Digital Health Market Outlook, 2023-2033 ($ Million)

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The South Korea digital health market research report provides value, volume, and average prices within the key market segments from 2018 to 2033. The report also includes a comprehensive analysis covering key market data on the digital health market in South Korea. Furthermore, the report enlists distribution channels, leading companies, and their pipeline products in the South Korean digital health market.

Market Size (2023) $84.4 million
Historic Period 2018-2022
Forecast Period 2023-2033
Key Categories ·        Regulatory-Approved Apps

·        Electronic Health Records

·        Telehealth
Key Companies ·        Cerner Corp

·        Concentrix Corp

·        Siemens Healthineers AG
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South Korea Digital Health Market Segmentation by Categories

The key categories in the South Korea digital health market include regulatory-approved apps, electronic health records, and telehealth. In 2023, the electronic health records category was the highest revenue contributor in the South Korea digital health market. They are electronic versions of a patient’s medical history kept over time by the provider. An electronic health record may include all of the critical administrative clinical data related to the person’s treatment under a specific provider, such as demographics, progress notes, issues, and prescriptions. Electronic health records can be further sub-segmented into cloud-based systems and remote systems.

South Korea Digital Health Market Analysis by Categories, 2023 (%)

South Korea Digital Health Market Analysis by Categories, 2023 (%)

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South Korea Digital Health Market- Competitive Landscape

A few of the leading companies in the South Korea digital health market are:

  • Cerner Corp
  • Concentrix Corp
  • Siemens Healthineers AG

In 2023, Cerner Corp contributed the highest revenue to the South Korea digital health market. This subsidiary of Oracle Corporation is headquartered in North Kansas City, Missouri, the US. Oracle Cerner is a provider of healthcare information technology solutions and related services that assist the clinical, financial, and operational needs of organizations. Its major solutions include ambulatory, critical care, acute EHR solutions, women’s health, and others. Moreover, Cerner offers various services such as implementation and training, remote hosting, revenue cycle services, and operational management, among others.

South Korea Digital Health Market Analysis by Companies, 2023 (%)

South Korea Digital Health Market Analysis by Companies, 2023 (%)

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Segments Covered in the Report

South Korea Digital Health Category Outlook (Value, $ Million, 2018-2033)

  • Regulatory-Approved Apps
    • Indication-Specific Mobile Apps
    • Clinical-Focused Apps
  • Electronic Health Records
    • Cloud-Based Systems
    • Remote Systems
  • Telehealth
    • Telehealth Software and Services
    • Telehealth Devices

Scope

The South Korea digital health market report provides key information and data on:

  • Annualized market revenues (USD), volume (units), and average prices (USD) data for each of the market segments. Data is provided from 2018 to 2033.

  • 2023 company share and distribution share data for the digital health market.

  • Global corporate-level profiles of key companies operating within the South Korea digital health market. Based on the availability of data for the particular category and country, information related to pipeline products, news, and deals is also available in the report.

Reasons to Buy

  • Develop business strategies by identifying the key market segments poised for strong growth in the future.

  • Develop market-entry and market-expansion strategies.

  • Design competition strategies by identifying who stands where in the market.

  • Develop investment strategies by identifying the key market segments expected to register strong growth in the near future.

  • Understand the key distribution channels and identify, understand, and capitalize the most preferred mode of product distribution.

Key companies covered in the “South Korea Digital Health Outlook to 2033” report:
• Cerner Corp
• Concentrix Corp
• Siemens Healthineers AG

Table of Contents

|1 Table of Contents

|1 Table of Contents 3

|1.1 List of Tables 6

|1.2 List of Figures 7

2 Introduction 8

2.1 What Is This Report About? 8

2.2 Digital Health Market Segmentation 8

2.3 Definitions of Markets Covered in the Report 9

3 Digital Health Market, South Korea 12

3.1 Digital Health Market, South Korea, Revenue ($m), 2018-2033 12

3.2 Digital Health Market, South Korea, Revenue Mix ($m), 2023 13

3.3 Digital Health Market, South Korea, Category Contribution by Revenue ($m), 2023 14

3.4 Digital Health Market, South Korea, Revenue ($m), 2018-2033 15

3.5 Digital Health Market, South Korea, Volume (Units), 2018-2033 17

3.6 Digital Health Market, South Korea, Volume (Units), 2018-2033 18

3.7 Digital Health Market, South Korea, Company Share by Revenue ($m), 2023 20

4 Electronic Health Records Market, South Korea 21

4.1 Electronic Health Records Market, South Korea, Revenue Mix ($m), 2023 21

4.2 Electronic Health Records Market, South Korea, Segment Contribution (%), 2023 22

4.3 Electronic Health Records Market, South Korea, Revenue ($m), 2018-2033 24

4.4 Electronic Health Records Market, South Korea, Volume (Units), 2018-2033 26

4.5 Electronic Health Records Market, South Korea, Average Price ($) , 2018-2033 28

4.6 Electronic Health Records Market, South Korea, Distribution Share by Revenue ($m), 2023 29

4.7 Electronic Health Records Market, South Korea, Company Share by Revenue ($m), 2023 30

5 Regulatory Approved Apps Market, South Korea 31

5.1 Regulatory Approved Apps Market, South Korea, Revenue ($m), 2025-2033 31

5.1.1 Clinical-Focused Apps Market, South Korea, Revenue ($m), by Segment, 2025-2033 33

5.1.2 Indication Specific Mobile Apps Market, South Korea, Revenue ($m), by Segment, 2025-2033 35

5.2 Regulatory Approved Apps Market, South Korea, Volume (Units), 2025-2033 37

5.2.1 Clinical-Focused Apps Market, South Korea, Volume (Units), by Segment, 2025-2033 39

5.2.2 Indication Specific Mobile Apps Market, South Korea, Volume (Units), by Segment, 2025-2033 41

5.3 Regulatory Approved Apps Market, South Korea, Average Price ($), 2025-2033 43

6 Telehealth Market, South Korea 45

6.1 Telehealth Market, South Korea, Revenue Mix ($m), 2023 45

6.2 Telehealth Market, South Korea, Segment Contribution (%), 2023 46

6.3 Telehealth Market, South Korea, Revenue ($m), 2018-2033 48

6.4 Telehealth Market, South Korea, Volume (Units), 2018-2033 50

6.5 Telehealth Market, South Korea, Average Price ($) , 2018-2033 52

6.6 Telehealth Market, South Korea, Distribution Share by Revenue ($m), 2023 53

6.7 Telehealth Market, South Korea, Company Share by Revenue ($m), 2023 54

7 Overview of Key Companies in South Korea, Digital Health Market 55

7.1 Siemens Healthineers AG 55

7.1.1 Company Overview 55

7.2 Cerner Corp 55

7.2.1 Company Overview 55

7.3 Concentrix Corp 55

7.3.1 Company Overview 55

8 Digital Health Market Pipeline Products 56

9 Financial Deals Landscape 60

9.1 Acquisition 60

9.1.1 Medtronic Terminates to Acquire EOFlow for USD738 Million 60

9.1.2 GI Innovation to Acquire GI Biome for USD2.31 Million 62

9.1.3 Selvas AI Acquires

37.52% Mediana for USD56.7 Million 63

9.2 Equity Offerings 64

9.2.1 LifeSemantics to Raise USD1.44 Million in Private Placement of Shares 64

9.2.2 Cellumed Raises USD7 Million in Private Placement of Shares 65

9.2.3 P&S Mechanics to Raise Funds through Initial Public Offering (IPO) of Shares 66

9.2.4 Life Semantics (LifeSemantics) to Raise USD15 Million in Public Offering of Shares 67

9.2.5 Lunit Raises USD151 Million in Private Placement of Common Stock 68

9.3 Partnerships 69

9.3.1 Ybrain to Enter into Co-Development with Meditrix 69

9.3.2 3M to Enter into Co Development Agreement With HD Korea Shipbuilding & Offshore Engineering (KSOE) 70

9.3.3 SMK Enters into Licensing Agreement with Canary Speech 71

9.3.4 BL Science Enters into Co-Development Agreement with Kumoh National Institute of Technology 72

9.4 Private Equity 73

9.4.1 KKR to Acquire Stake in Hanmi Science 73

9.4.2 Global Emerging Markets (GEM) to Acquire

7.7% Stake in PCL for Approximately USD15.40 Million 74

9.5 Venture Financing 76

9.5.1 Readycure Secures Pre-Series A Financing 76

9.5.2 AlgoCare Secures USD11.40 Million in Series A Financing 77

9.5.3 ProvaLabs (Proba Labs) Secures Seed Funding 79

9.5.4 Connec Teve Secures USD3 Million in Pre-A Round Funding 80

9.5.5 Connecteve Secures USD3 Million in Venture Funding 82

9.5.6 Huniverse Global Raises USD11.40 Million in Series B Financing 84

9.5.7 Neurophet Raises USD15.3 Million in Series C Financing 86

9.5.8 Ichrogene Raises Venture Funding 88

9.5.9 Medipixel Secures USD12.58 Million in Series B Venture Funding 89

9.5.10 DoBrain (Dubrain) Secures USD15.54 Million in Series B Financing 91

9.5.11 Sky Labs Raises USD15.31 Million in Series C Financing 92

9.5.12 Soldak (Eye Care Doctor) Raises Additional USD5.18 Million in Series A funding 94

9.5.13 Curaum (Quraum) Secures USD7.95 Million in Series B Funding 96

9.5.14 Andreia Raises Funds through Seed Financing 98

9.5.15 ClariPI (Clarify) Plans to Secures USD11.55 Million in Venture Financing 99

9.5.16 CertiLife (Thirty Life, 3 Life) Raises Funds in Seed Financing 100

9.5.17 InHandPlus Secures USD2.3 Million in Series A Funding 101

10 Recent Developments 103

10.1 Corporate Communications 103

10.1.1 Jul 30, 2023: Deep Bio Welcomes Grant Carlson as Chief Commercial Officer 103

10.1.2 Jun 27, 2023: AI Diagnostic Platform Company Noul Releases 2022-2023 Sustainability Report 103

10.2 Financial Announcements 104

10.2.1 Apr 25, 2024: LG Electronics Reports Q1 2024 Results 104

10.2.2 Apr 25, 2024: LG Electronics Reports Q1 2024 Results 104

10.2.3 Apr 05, 2024: LG Releases Preliminary Earnings for First-Quarter 2024 105

10.2.4 Jan 31, 2024: Samsung Electronics Reports Q4 and FY 2023 Financial Results 106

10.2.5 Jan 25, 2024: LG Announces 2023 Financial Results 109

10.2.6 Oct 31, 2023: Samsung Electronics Reports Q3 2023 Results 110

10.2.7 Oct 10, 2023: LG Releases Preliminary Earnings for Third-Quarter 2023 112

10.2.8 Aug 25, 2023: HoneyNaps Receives 510(k) Clearance for SOMNUM (V.1.1.2.) 113

10.2.9 Jul 25, 2023: Huvexel Receives Additional 510(K) Clearance for BALTEUM ONE Lumbar Plate System 114

10.2.10 Jul 12, 2023: L & K Biomed Receives an Additional 510(k) Clearance for AccelFix Spinal Fixation System 115

10.3 Government and Public Interest 116

10.3.1 Nov 30, 2023: Phantomics Received Medical Device Manufacturing Certification From the Ministry of Food and Drug Safety 116

10.3.2 Aug 01, 2023: Lunit Presents Groundbreaking Study on Predicting Treatment Response by HER2 Analysis in Colorectal Cancer 116

10.4 Other Significant Developments 117

10.4.1 Apr 30, 2024: Solve.Care Selected for Korea University Guro Hospital’s Open Lab in 2024, Accelerates Global Clinical Trial Implementation with Care.Trials 117

10.4.2 Mar 16, 2024: Phantomics Signed a Partnership With Getz Healthcare Malaysia 117

10.4.3 Jan 11, 2024: Leading Pharma Adopts Veeva Vault Validation Management for Digital Validation Execution and Improved Efficiency 118

10.4.4 Sep 20, 2023: SK bioscience Implements Laboratory Information Management System First Among South Korean Vaccine Companies 118

10.5 Product News 118

10.5.1 Apr 11, 2024: Syntekabio to Showcase Innovative AI Drug Discovery Technologies at Bio-IT World 118

10.5.2 Mar 27, 2024: Medical IP, Unveiling of Digital Twin Simulation Platform at NVIDIA GTC 2024 , Jensen Huang Emphasizes Omniverse Platform in his Keynote 119

10.5.3 Mar 05, 2024: Phantomics Participates in the ECR 2024 119

10.5.4 Jan 08, 2024: Galaxy Watch’s Advanced Sensor Tech Paves Way for Greater Preventive Healthcare Solutions 120

10.5.5 Nov 07, 2023: Deep Bio Joins CancerX to Revolutionize Cancer Diagnosis and Prognosis with AI Expertise 121

10.5.6 Oct 20, 2023: GC Genome to Present the Latest Lung Cancer Diagnostic Tool at ESMO 2023 121

10.5.7 Oct 10, 2023: Phantomics Participates in the ‘K-BIC Star Day’ 122

10.5.8 Sep 27, 2023: Phantomics Participates in the KCR 2023 122

10.5.9 Aug 22, 2023: Phantomics Participates in the ASCI 2023 122

10.5.10 Jul 31, 2023: Seegene Unveils Solutions To Popularize Molecular Diagnostics at 2023 AACC 122

10.6 Strategy And Business Planning 124

10.6.1 Apr 16, 2024: Mayo Clinic Platform Expands Global Footprint of Its Distributed Data Network 124

10.6.2 Jan 25, 2024: Theragen Health opens ‘Microbiome Lab’ 125

10.6.3 Nov 17, 2023: Vatech-Yonsei University Opens AI Center, a Global Medical Device Research Base 125

10.6.4 Nov 13, 2023: Shina Med Receives 510(K) Clearance For Shina Syringe 126

10.6.5 Oct 12, 2023: Phantomics has Entered a MOU with Wonju Severance Christian Hospital 126

10.6.6 Oct 06, 2023: Samsung Announces Open Innovation Initiative With Leading Universities and Academic Hospitals To Build Digital Health Ecosystem 126

10.6.7 Oct 05, 2023: GE Healthcare and University Hospitals Enter 10-Year Strategic Collaboration to Contemporize Its Imaging Fleet and Implement Enterprise Digital Solutions to Help Improve Patient Care and Optimize Processes 127

10.6.8 Aug 29, 2023: Phantomics and Superheroes Collaborate on Healthcare AI Technology 128

10.6.9 Aug 08, 2023: Vatech Announces Distribution Through Henry Schein to Help Oral Health Professionals Enhance Access to Cutting-Edge Imaging Solutions 128

10.6.10 Aug 07, 2023: Phantomics and JNP Medical Signed an MOU For Medical Data Platform and Medical Image Diagnosis AI Software 129

10.6.11 Aug 07, 2023: Canon Medical Systems Korea signs MOU with Phantomics for Heart Diseases 129

10.6.12 Aug 07, 2023: Phantomics Signed an MOU with Pamicell to Collaborate on Research for Diagnosis and Treatment of Cardiovascular Diseases 129

10.6.13 Jun 22, 2023: Telescope Health Provides Vital Virtual Healthcare Powered by Vonage and SourceFuse 130

11 Appendix 131

11.1 Research Methodology 132

11.1.1 Coverage 132

11.1.2 Secondary Research 132

11.1.3 Primary Research 133

11.1.4 Market Modeling and Forecasting 134

11.1.5 Company Share Analysis 135

11.1.6 Distribution Share Analysis 135

11.1.7 Benchmarking 136

11.2 GlobalData Consulting 136

11.3 Contact Us 136

11.4 Disclaimer 137

Table

|1.1 List of Tables

Table 1: Digital Health Market, South Korea, Revenue ($m), USD Constant, 2018-2033 12

Table 2: Digital Health Market, South Korea, Category Contribution by Revenue ($m), 2023 14

Table 3: Digital Health Market, South Korea, Revenue ($m), USD Constant, Historic, 2018-2033 16

Table 4: Digital Health Market, South Korea, Volume (Units), 2018-2033 17

Table 5: Digital Health Market, South Korea, Volume (Units), Historic, 2018-2033 19

Table 6: Digital Health Market, South Korea, Company Share by Revenue ($m), USD Constant, 2023 20

Table 7: Electronic Health Records Market, South Korea, Segment Contribution (%), 2023 23

Table 8: Electronic Health Records Market, South Korea, Revenue ($m), USD Constant, 2018-2033 25

Table 9: Electronic Health Records Market, South Korea, Volume (Units), 2018-2033 27

Table 10: Electronic Health Records Market, South Korea, Average Price ($), 2018-2033 28

Table 11: Electronic Health Records Market, South Korea, Distribution Share by Revenue ($m), USD Constant, 2023 29

Table 12: Electronic Health Records Market, South Korea, Company Share by Revenue ($m), USD Constant, 2023 30

Table 13: Regulatory Approved Apps Market, South Korea, Revenue ($m), USD Constant, 2025-2033 32

Table 14: Clinical-Focused Apps Market, South Korea, Revenue ($m), USD Constant, 2025-2033 34

Table 15: Indication Specific Mobile Apps Market, South Korea, Revenue ($m), USD Constant, 2025-2033 36

Table 16: Regulatory Approved Apps Market, South Korea, Volume (Units), 2025-2033 38

Table 17: Clinical-Focused Apps Market, South Korea, Volume (Units), 2025-2033 40

Table 18: Indication Specific Mobile Apps Market, South Korea, Volume (Units), 2025-2033 42

Table 19: Regulatory Approved Apps Market, South Korea, Average Price ($), 2025-2033 43

Table 20: Telehealth Market, South Korea, Segment Contribution (%), 2023 47

Table 21: Telehealth Market, South Korea, Revenue ($m), USD Constant, 2018-2033 49

Table 22: Telehealth Market, South Korea, Volume (Units), 2018-2033 51

Table 23: Telehealth Market, South Korea, Average Price ($), 2018-2033 52

Table 24: Telehealth Market, South Korea, Distribution Share by Revenue ($m), USD Constant, 2023 53

Table 25: Telehealth Market, South Korea, Company Share by Revenue ($m), USD Constant, 2023 54

Table 26: Digital Health Market Pipeline Products 56

Table 27: Medtronic Terminates to Acquire EOFlow for USD738 Million 60

Table 28: GI Innovation to Acquire GI Biome for USD2.31 Million 62

Table 29: Selvas AI Acquires 37.52% Mediana for USD56.7 Million 63

Table 30: LifeSemantics to Raise USD1.44 Million in Private Placement of Shares 64

Table 31: Cellumed Raises USD7 Million in Private Placement of Shares 65

Table 32: P&S Mechanics to Raise Funds through Initial Public Offering (IPO) of Shares 66

Table 33: Life Semantics (LifeSemantics) to Raise USD15 Million in Public Offering of Shares 67

Table 34: Lunit Raises USD151 Million in Private Placement of Common Stock 68

Table 35: Ybrain to Enter into Co-Development with Meditrix 69

Table 36: 3M to Enter into Co Development Agreement With HD Korea Shipbuilding & Offshore Engineering (KSOE) 70

Table 37: SMK Enters into Licensing Agreement with Canary Speech 71

Table 38: BL Science Enters into Co-Development Agreement with Kumoh National Institute of Technology 72

Table 39: KKR to Acquire Stake in Hanmi Science 73

Table 40: Global Emerging Markets (GEM) to Acquire 7.7% Stake in PCL for Approximately USD15.40 Million 74

Table 41: Readycure Secures Pre-Series A Financing 76

Table 42: AlgoCare Secures USD11.40 Million in Series A Financing 77

Table 43: ProvaLabs (Proba Labs) Secures Seed Funding 79

Table 44: Connec Teve Secures USD3 Million in Pre-A Round Funding 80

Table 45: Connecteve Secures USD3 Million in Venture Funding 82

Table 46: Huniverse Global Raises USD11.40 Million in Series B Financing 84

Table 47: Neurophet Raises USD15.3 Million in Series C Financing 86

Table 48: Ichrogene Raises Venture Funding 88

Table 49: Medipixel Secures USD12.58 Million in Series B Venture Funding 89

Table 50: DoBrain (Dubrain) Secures USD15.54 Million in Series B Financing 91

Table 51: Sky Labs Raises USD15.31 Million in Series C Financing 92

Table 52: Soldak (Eye Care Doctor) Raises Additional USD5.18 Million in Series A funding 94

Table 53: Curaum (Quraum) Secures USD7.95 Million in Series B Funding 96

Table 54: Andreia Raises Funds through Seed Financing 98

Table 55: ClariPI (Clarify) Plans to Secures USD11.55 Million in Venture Financing 99

Table 56: CertiLife (Thirty Life, 3 Life) Raises Funds in Seed Financing 100

Table 57: InHandPlus Secures USD2.3 Million in Series A Funding 101

Table 58: Total Number of Primary Research Participants, Digital Health Market, by Country 133

Figures

|1.2 List of Figures

Figure 1: Digital Health Market, South Korea, Revenue ($m), USD Constant, 2018-2033 12

Figure 2: Digital Health Market, South Korea, Revenue Mix ($m), 2023 13

Figure 3: Digital Health Market, South Korea, Category Contribution (%), 2023 14

Figure 4: Digital Health Market, South Korea, Revenue ($m), USD Constant, Historic, 2018-2033 15

Figure 5: Digital Health Market, South Korea, Volume (Units), 2018-2033 17

Figure 6: Digital Health Market, South Korea, Volume (Units), Historic, 2018-2033 18

Figure 7: Digital Health Market, South Korea, Company Share (%) 2023 20

Figure 8: Electronic Health Records Market, South Korea, Revenue Mix ($m), 2023 21

Figure 9: Electronic Health Records Market, South Korea, Segment Contribution (%), 2023 22

Figure 10: Electronic Health Records Market, South Korea, Revenue ($m), USD Constant, 2018-2033 24

Figure 11: Electronic Health Records Market, South Korea, Volume (Units), 2018-2033 26

Figure 12: Electronic Health Records Market, South Korea, Company Share (%) 2023 30

Figure 13: Regulatory Approved Apps Market, South Korea, Revenue ($m), USD Constant, 2025-2033 31

Figure 14: Clinical-Focused Apps Market, South Korea, Revenue ($m), USD Constant, 2025-2033 33

Figure 15: Indication Specific Mobile Apps Market, South Korea, Revenue ($m), USD Constant, 2025-2033 35

Figure 16: Regulatory Approved Apps Market, South Korea, Volume (Units), 2025-2033 37

Figure 17: Clinical-Focused Apps Market, South Korea, Volume (Units), 2025-2033 39

Figure 18: Indication Specific Mobile Apps Market, South Korea, Volume (Units), 2025-2033 41

Figure 19: Telehealth Market, South Korea, Revenue Mix ($m), 2023 45

Figure 20: Telehealth Market, South Korea, Segment Contribution (%), 2023 46

Figure 21: Telehealth Market, South Korea, Revenue ($m), USD Constant, 2018-2033 48

Figure 22: Telehealth Market, South Korea, Volume (Units), 2018-2033 50

Figure 23: Telehealth Market, South Korea, Company Share (%) 2023 54

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