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Outpatient Care - South Korea

South Korea
  • In South Korea, the Outpatient Care market is expected to see significant growth in the coming years.
  • By 2024, revenue in this market is projected to reach US$17.79bn.
  • This indicates a positive trend and highlights the demand for outpatient services in the country.
  • Looking ahead, the market is expected to continue its growth trajectory with an annual growth rate of 9.43% from 2024 to 2029.
  • By the end of this period, the market volume is forecasted to reach US$27.92bn.
  • This steady growth reflects the increasing need for outpatient care and the evolving healthcare landscape in South Korea.
  • In comparison to other countries, United States is anticipated to generate the highest revenue in the Outpatient Care market.
  • In 2024 alone, United States is projected to generate a substantial revenue of US$744.80bn.
  • This highlights the significant market size and potential opportunities United States for outpatient care providers.
  • Overall, the Outpatient Care market in South Korea is poised for growth, with revenue expected to reach impressive figures in the coming years.
  • This presents a promising opportunity for both domestic and international players in the healthcare industry to tap into this market and contribute to the advancement of outpatient care services.
  • The demand for outpatient care services in South Korea is driven by an aging population and a growing emphasis on preventive healthcare.

Definition:
Outpatient Care refers to medical and surgical services that are provided to patients who do not require an overnight stay in a hospital. It covers a wide range of services, including diagnostic tests, procedures, and treatments that are performed on an outpatient basis (e.g., doctor consultations, diagnostic services, and laboratory tests). Hospital outpatient care is designed to provide convenient, efficient, and cost-effective medical care to patients, allowing them to receive medical attention without having to spend the night in a hospital. This reduces the overall cost of healthcare and increases accessibility to medical services.

Additional information:
The Outpatient Care market comprises revenues and average revenue per capita. Market values represent revenues paid to hospitals by the respective healthcare payers (including VAT, if applicable). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

In-Scope

  • Ambulatory care by hospitals
  • Minor surgical procedures
  • Clinic visits by patients
  • Checkups
  • Emergency department visits

Out-Of-Scope

  • Inpatient care
  • Day care
  • Long-term care
  • Home-based care
Outpatient Care: market data & analysis - Cover

Market Insights report

Outpatient Care: market data & analysis

Study Details

    Revenue

    Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Outpatient Care market in South Korea has been experiencing significant growth in recent years.

    Customer preferences:
    South Korea's aging population has led to an increase in demand for healthcare services, including outpatient care. Additionally, there is a growing preference for outpatient care services due to the convenience of receiving medical treatment without the need for hospitalization.

    Trends in the market:
    The Outpatient Care market in South Korea is experiencing a shift towards specialized medical services, such as cancer treatment and cosmetic surgery. This is due to the increasing demand for these services and the development of new medical technologies and treatments.

    Local special circumstances:
    South Korea's healthcare system is heavily regulated by the government, which has led to a high level of standardization in the Outpatient Care market. This has resulted in a high level of trust in healthcare providers and a focus on quality of care.

    Underlying macroeconomic factors:
    South Korea's strong economy has led to increased spending on healthcare, including outpatient care. Additionally, the country's technological advancements and highly educated workforce have contributed to the development of new medical treatments and technologies.

    Global Comparison

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

    Modeling approach / Market size:

    Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

    Additional notes:

    Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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    Outpatient Care: market data & analysis - BackgroundOutpatient Care: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Outpatient care (ambulatory care) in the U.S. - Statistics & Facts

    In recent years, a clear shift from inpatient to outpatient care has changed the face of healthcare, impacting operations, business models, staffing, and capital. Ambulatory centers carry out increasing numbers of medical procedures following advancements in healthcare technologies, cost management incentives, and consumer-focused services. There is a significant rise in the utilization of non-traditional sites of service such as ambulatory surgery centers, community health centers, primary care clinics, and telehealth. Employment in U.S. Ambulatory health care services has considerably grown over the years. Since 2007, according to the number of ambulatory care establishments in the U.S., nearly a hundred thousand ambulatory care establishments have opened across the country.
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