South Korea Long Term Care Market Overview
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 21.6 Billion
Market Forecast in 2033: USD 33.0 Billion
Market Growth Rate: 4.80%(2025-2033)
According to the latest report by IMARC Group, the South Korea long term care market size reached USD 21.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 33.0 Billion by 2033, exhibiting a growth rate (CAGR) of 4.80% during 2025-2033.
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South Korea Long Term Care Industry Trends and Drivers:
The aging population and rising need for high-quality eldercare services in South Korea are driving the country’s fast-changing long-term care sector. Seniors can now receive individualized support at home because to the integration of technology, including telehealth and remote monitoring equipment, which is revolutionizing the way care is provided. In order to improve patient outcomes, healthcare facilities are implementing smart healthcare technologies, such as wearable technology and analytics powered by artificial intelligence. Additionally, home-based care is becoming more and more popular as families choose options that let their loved ones age in place. The long-term care industry in South Korea is positioned to fulfill the demands of a rapidly aging society because to its sophisticated healthcare infrastructure and emphasis on innovation.
The move toward person-centered care approaches, which put the dignity and desires of each individual first, is another noteworthy trend. To improve quality of life, long-term care providers are providing individualized services like mental health assistance and rehabilitation activities. Another noteworthy development is the emergence of community-based care facilities, which offer medical care and social interaction in easily accessible areas. By increasing insurance coverage for long-term care services and lowering their cost, government policies are bolstering this trend. Additionally, the incorporation of robotics—such as assisting gadgets for everyday activities and mobility—is becoming more popular, demonstrating South Korea’s technological superiority. The long-term care industry is changing as a result of these changes, guaranteeing creative and compassionate care for the elderly.
South Korea Long Term Care Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest South Korea Long Term Care share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
The report has segmented the market into the following categories:
Service Insights:
Home Healthcare
Hospice
Nursing Care
Assisted Living Facilities
Others
Gender Insights:
Male
Female
Payer Insights:
Public
Private
Out-of-Pocket
Regional Insights:
Seoul Capital Area
Yeongam (Southeastern Region)
Honam (Southwestern Region)
Hoseo (Central Region)
Others
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Additionally, the report features detailed profiles of all major companies in the South Korea Long Term Care industry.
Key highlights of the Report:
Market Performance (2019-2024)
Market Outlook (2025-2033)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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