Report Republic of Korea - Pacemakers for Stimulating Heart Muscles (Excl. Parts and Accessories) - Market Analysis, Forecast, Size, Trends and Insights for 499$

Report Update Nov 1, 2024

Republic of Korea - Pacemakers for Stimulating Heart Muscles (Excl. Parts and Accessories) - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Pacemaker Market 2024

Pacemaker Market Size in Republic of Korea

The South Korean pacemaker market expanded rapidly to $X in 2021, increasing by 6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded resilient growth. Pacemaker consumption peaked in 2021 and is likely to see steady growth in the near future.

Pacemaker Exports

Exports from Republic of Korea

For the third consecutive year, South Korea recorded decline in shipments abroad of pacemakers for stimulating heart muscles (excl. parts and accessories), which decreased by -38.6% to X units in 2021. Overall, exports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 300% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, pacemaker exports reduced sharply to $X in 2021. In general, exports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2015 with an increase of 302% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X units), the United States (X units) and Belgium (X units) were the main destinations of pacemaker exports from South Korea, together accounting for 96% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of -8.7%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for pacemaker exported from South Korea were the United States ($X), Italy ($X) and Belgium ($X), with a combined 98% share of total exports.

The United States, with a CAGR of -6.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average pacemaker export price amounted to $X per unit, declining by -8.7% against the previous year. Over the period under review, the export price saw a noticeable downturn. The growth pace was the most rapid in 2020 an increase of 14% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Pacemaker Imports

Imports into Republic of Korea

Pacemaker imports into South Korea dropped to X units in 2021, waning by -6.6% compared with 2020. Overall, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 124% against the previous year. Over the period under review, imports hit record highs at X units in 2020, and then shrank in the following year.

In value terms, pacemaker imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2013 when imports increased by 68% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Switzerland (X units), Malaysia (X units) and Germany (X units) were the main suppliers of pacemaker imports to South Korea, with a combined 77% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +110.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pacemaker suppliers to South Korea were Switzerland ($X), Malaysia ($X) and Ireland ($X), with a combined 83% share of total imports.

Malaysia, with a CAGR of +102.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average pacemaker import price amounted to $X per unit, jumping by 24% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pacemakers for stimulating heart muscles (excl. parts and accessories) in the world?

The countries with the highest volumes of pacemaker consumption in 2020 were China, the United States and India, with a combined 54% share of global consumption.

What are the largest producers of pacemakers for stimulating heart muscles (excl. parts and accessories) in the world?

The countries with the highest volumes of pacemaker production in 2020 were China, the United States and India, with a combined 52% share of global production. Malaysia, Russia, Germany, Mexico, Switzerland, Turkey, Ireland and Egypt lagged somewhat behind, together accounting for a further 25%.

What are the leading suppliers of pacemakers for stimulating heart muscles (excl. parts and accessories) to Republic of Korea?

In value terms, Switzerland, Malaysia and Ireland were the largest pacemaker suppliers to South Korea, with a combined 78% share of total imports.

What are the leading importers of pacemakers for stimulating heart muscles (excl. parts and accessories) from Republic of Korea?

In value terms, the United States remains the key foreign market for pacemaker exports from South Korea, comprising 94% of total exports. The second position in the ranking was occupied by Italy, with a 2.3% share of total exports.

What is the average export price for pacemakers for stimulating heart muscles (excl. parts and accessories) in Republic of Korea?

The average pacemaker export price stood at $2,386 per unit in 2020, with an increase of 14% against the previous year.

What is the average import price for pacemakers for stimulating heart muscles (excl. parts and accessories) in Republic of Korea?

In 2020, the average pacemaker import price amounted to $1,957 per unit, jumping by 18% against the previous year.

This report provides an in-depth analysis of the pacemaker market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26601450 - Pacemakers for stimulating heart muscles (excluding parts and accessories)

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023