South Korea Home Healthcare Market Overview, 2028

South Korea Home Healthcare Market Overview, 2028

South Korea has a rapidly aging population, which is a common trend in many developed countries. As the elderly population increases, there is a greater demand for healthcare services, including home healthcare, to address the unique needs and challenges associated with aging. Similar to other countries, there is a global trend towards providing healthcare services in the home setting. Many individuals, especially the elderly, prefer to receive care in the comfort of their homes, and home healthcare can provide a more personalized and patient-centric approach. The prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and respiratory conditions, is increasing in South Korea. Home healthcare services can play a crucial role in the management of chronic conditions, providing on-going support, monitoring, and education for patients. Government initiatives and support for home healthcare can significantly impact market growth. Policies that promote home-based care, reduce hospital readmissions, and improve overall healthcare efficiency can drive the expansion of home healthcare services. Home healthcare can be a cost-effective alternative to hospital-based care. As healthcare costs rise, there is a growing focus on finding more efficient and economical care solutions. Home healthcare can help reduce the economic burden on the healthcare system. Aging-in-place initiatives, where elderly individuals are supported in staying in their homes as they age, have gained attention. Government programs that support and fund such initiatives can contribute to the growth of home healthcare services. Increasing awareness about the benefits of preventive and continuous healthcare may drive individuals to seek home healthcare services for regular check-ups, monitoring, and early intervention, contributing to overall market growth.

According to the research report ""South Korea Home Healthcare Market Overview, 2028,"" published by Bonafide Research, the South Korea Home Healthcare market is anticipated to grow at more than 9% CAGR from 2023 to 2028. Telehealth services and remote patient monitoring technologies have likely seen increased adoption. These technologies enable healthcare providers to monitor patients' health remotely, offer virtual consultations, and manage chronic conditions without the need for in-person visits. The development and implementation of electronic health records (EHRs) and improved interoperability between healthcare systems may enhance information sharing and care coordination. This trend can contribute to better continuity of care for patients receiving home healthcare. The recognition of mental health as an integral part of overall well-being may lead to an increased focus on providing mental health support at home. Home healthcare services may incorporate mental health professionals to address the unique needs of patients. Integration of smart home technologies for healthcare purposes, such as remote monitoring systems, smart sensors, and assistive devices, may be on the rise. These technologies contribute to the safety and well-being of individuals receiving home healthcare. The use of consumer health wearables for health monitoring and management may be increasing. Wearable devices can track vital signs, physical activity, and other health metrics, providing valuable data for healthcare professionals. South Korea is known for its advanced healthcare infrastructure. The trend of healthcare tourism may extend to home healthcare services, attracting international patients seeking high-quality care in the comfort of their temporary residences. Artificial intelligence (AI) applications for diagnosis and continuous monitoring may be integrated into home healthcare services. AI algorithms can assist healthcare professionals in analyzing data, identifying trends, and making informed decisions for patient care.

Based on Product & Services the market is categorized into Therapeutic, Testing, Screening, and Monitoring (TSM), Mobility and Services. The growth of the TSM segment in home healthcare can be attributed to technological advancements, including the development of telehealth platforms, wearable devices, and remote monitoring solutions. These technologies enhance the delivery of healthcare services at home, contributing to the overall growth of the TSM segment. TSM solutions support preventive healthcare by enabling remote monitoring of patients' health parameters. Preventive healthcare measures are gaining importance, and TSM technologies provide a means to monitor and manage health conditions proactively, contributing to the overall well-being of individuals and the growth of the TSM segment. TSM solutions enhance accessibility to healthcare services, providing patients with the convenience of receiving medical advice and monitoring from the comfort of their homes. This convenience factor can be a significant driver for the adoption of telehealth and telemedicine services in South Korea. Favorable regulatory environments and policies that support the integration of TSM solutions can spur their adoption. Clear guidelines, standards, and regulatory frameworks for telehealth and telemedicine services provide a foundation for healthcare providers to confidently implement and expand TSM offerings.

Considered in this report:
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• South Korea Home Healthcare market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product & Services
• Therapeutic
• Testing, Screening, and Monitoring (TSM)
• Mobility
• Services

By Indication
• Cardiovascular Disorders & Hypertension
• Cancer
• Diabetes
• Respiratory Diseases
• Movement Disorders
• Pregnancy
• Hearing Disorders
• Wound Care
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analysing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Home Healthcare industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.