South Korea Physiotherapy Market Analysis

South Korea Physiotherapy Market Analysis

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South Korea's physiotherapy market size was valued at $0.77 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.85% from 2022 to 2030 and will reach $1.32 Bn in 2030. The South Korean physiotherapy market is expected to grow due to the increasing prevalence of chronic diseases and lack of awareness of physiotherapy. The market is segmented by Product Type, Application Type, and End User. The major players in the South Korean physiotherapy market are Medi-Ject Co., Ltd, Sun Medical Equipment Co., Ltd, Hanyang Medical, BTL Industries, and others.

ID: IN10KRHS016 CATEGORY: Healthcare Services GEOGRAPHY: South Korea

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South Korea Physiotherapy Market Executive Summary

South Korea's physiotherapy market size was valued at $0.77 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.85% from 2022 to 2030 and will reach $1.32 Bn in 2030.. In 2021, the total health expenditure in South Korea is approximately 8.8 % of South Korea's GDP. This was a slight increase from the previous year's share, making it the highest share in the past decade. South Koreans spent over $3.9 Mn per person on health in 2021. The OECD defines health spending as the price of medical supplies and other services. Koreans spent an average of $3.6k in the previous year.

In South Korea, physiotherapy services include assessment and treatment of musculoskeletal conditions, such as back and neck pain, sports injuries, post-surgical rehabilitation, exercise prescription, manual therapy, ultrasound, electrical modalities, and education on injury prevention and self-management. Some physiotherapy clinics provide specialized services, such as pediatrics, women's health, and geriatrics. In South Korea, physiotherapy utilization has been increasing in recent years as awareness regarding the benefits of physical therapy for maintaining and improving physical function. Hence, the demand for the physiotherapy market will increase during the forecast period in the country.

south korea physiotherapy market analysis

Market Dynamics

Market Growth Drivers

In South Korea, the elderly population accounted for approximately 17.5 % of the total population in 2022. While this is about 0.9% higher than in the previous year; as the population ages, there is an increasing need for physiotherapy services to address age-related conditions such as osteoarthritis, stroke, and other chronic diseases. Hence, the demand for the physiotherapy market increased in South Korea.

Moreover, the prevalence of chronic diseases such as diabetes, obesity, and heart disease is on the rise in South Korea, most elderly people have chronic diseases; the average number of chronic diseases per patient is 4.1, and 70.9% of the elderly have MCD which is leading to an increase in demand for physiotherapy services in the nation.

Furthermore, the South Korean government has been increasing healthcare spending in recent years, which has led to more funding for physiotherapy services.

Market Restraints

Due to a lack of reimbursement for physiotherapy services, many private insurance plans do not cover physiotherapy services, making it difficult for patients to access these services. Moreover, there is a shortage of qualified physiotherapists in South Korea, which limits the availability of physiotherapy services. Furthermore, a lack of awareness among the general population about the benefits of physiotherapy limits demands for these services.

Competitive Landscape

Key Players

  • Medi-Ject Co., Ltd (KOR)
  • Sun Medical Equipment Co., Ltd (KOR)
  • Hanyang Medical (KOR)
  • S&S Co., Ltd (KOR)
  • Hwacheon Medical (KOR)
  • BTL Industries
  • EMS Physio Ltd.
  • DJO Global, Inc.
  • Dynatronics Corporation, Inc.
  • Medline Industries
  • Performance Health

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of the South Korea Physiotherapy Market

In South Korea, the Ministry of Food and Drug Safety (MFDS) is regulating physiotherapy equipment. All physiotherapy equipment must be registered before the sale in the country. The registration process includes submitting detailed information about the equipment, including its intended use, design, and manufacturing information, as well as passing safety and performance testing.

In addition to the MFDS, the Korean Association of Medical Instrumentation (KAMI) contributes to the regulation of physiotherapy equipment.  KAMI ensures the safety and efficacy of medical devices and equipment, It has established the standards and guidelines for physiotherapy equipment and provides information to healthcare professionals and consumers about the safe use of the equipment.

South Korea provides the National Health Insurance System (NHIS) to its citizens. The Ministry of Health and Welfare offers it free of charge to all people at the time of delivery. The system is funded by the National Health Insurance Scheme, which is mandatory for all citizens and covers 97% of the population.

In South Korea, only a set number of appointments per year may be covered by insurance for physiotherapy. A high-level hospital has a 50%–60% co-pay, whereas a lesser clinic may only have a 30% co-pay. The amount of the co-pay varies based on the degree of the hospital visit.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Physiotherapy Market Segmentation

By Product: (Revenue, USD Billion):

Based on product, the physiotherapy equipment market is divided into two major segments, namely, equipment and accessories. The equipment segment accounted for the largest share of the physiotherapy equipment market in 2021. The equipment segment is further segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, heat therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, laser therapy equipment, magnetic pressure therapy equipment, traction therapy, and other physiotherapy equipment (hydrotherapy and vacuum therapy). Owing to the increasing use of electrotherapy equipment in the treatment of musculoskeletal disorders and owing to increasing concerns for patients’ safety and minimal/no side-effects during the physiotherapy treatments.

  • Equipment
  • Electrotherapy equipment
  • Ultrasound equipment
  • Exercise therapy equipment
  • Heat therapy equipment
  • Cryotherapy equipment
  • Combination therapy equipment
  • Continous passive motion therapy equipment
  • Shockwave therapy equipment
  • Laser therapy equipment
  • Magnetic pressure therapy equipment
  • Traction therapy
  • Other physiotherapy equipment
  • Accessories
  • Manual Therapy
  • Specialized treatment
  • Joint Mobilization Techniques
  • Suspension Therapy

By Application (Revenue, USD Billion):

Based on application, the physiotherapy equipment market is segmented into musculoskeletal applications, neurological applications, cardiovascular and pulmonary applications, pediatric applications, gynecological applications, and other applications (including sports and palliative care). The musculoskeletal applications segment holds a dominating share attributed to the increasing adoption of physiotherapies to accelerate recovery of accidental injuries, rising incidence of musculoskeletal disorders, and growth in the geriatric population.

By Applications

  • Musculoskeletal applications
  • Neurological applications
  • Cardiovascular and pulmonary applications
  • Pediatric applications
  • Gynecological applications
  • Other applications

By End-user (Revenue, USD Billion):

Based on end users, the physiotherapy equipment market is segmented into physiotherapy & rehabilitation centers, hospitals, home care settings, physician offices, and other end users (community health centers and elderly care facilities). In 2021, the physiotherapy & rehabilitation centers segment accounted for the largest share of the physiotherapy equipment market due to increasing demand for advanced physiotherapy equipment and their wide usage across the care continuum across these centers.

  • Physiotherapy & Rehabilitation centers
  • Hospitals
  • Home care settings
  • Physician offices

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Last updated on: 20 October 2023
Updated by: Ritu Baliya

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