Report Overview

The South Korea type 2 diabetes market size stood at around USD 460 million in 2019 and is projected to reach xx million by 2028, exhibiting a CAGR of around xx% during the forecast period.

One in seven Koreans over 30 years of age have diabetes. The prevalence of diabetes among Koreans over 30 years stands at 13.8 percent in 2020, as 4.94 million people have the disease. The number almost doubles to reach 9.48 million, or 26.9 percent of the total population, when people with fasting blood sugar disorder are included. The prevalence is rising in both men and women with increase in age. The rate surpassed 10 percent among men in their 40s, and women in their 50s. Among people older than 70, 28.8 percent of men and 29.4 percent of women have diabetes.

 



Market Drivers

The increase in the diabetic population is also related to aging.Korea's aging population is the fastest among the 37 OCED countries.The number of elderly people aged 65 or older in Korea increased by an annual average of 4.4% (290,000 per year), 1.7 times the OECD average (which is 2.6%).As the elderly population in Korea is expected to continue to increase, the diabetes treatment market is also expected to show rapid growth.

Although the number of diabetics is steadily increasing each year, the share of people recognizing their disease and receiving treatment remains low. About six or seven of 10 diabetic patients are aware of their illness, and six out of 10 are receiving treatment. This low level of awareness about disease and treatment impedes the growth of the market.