The share of private prepaid health plans in South Korea stood at 15.59% in 2023, indicating a steady upward trend from 2013's 13.56%. Over the last two years, the year-on-year variation has shown consistent growth, with a 1.73% increase from 2021 to 2022, and a 1.67% increase from 2022 to 2023. The CAGR over the last five years (2019-2023) averaged 1.8%, reflecting a stable growth trajectory. The forecast from 2024 to 2028 anticipates a further increase, with the share expected to reach 16.79% by 2028, representing a forecasted 5-year CAGR of 1.18% and a growth rate of 6.02% over this period.
Future trends to watch for include the potential impact of economic changes, shifts in government policy around healthcare, and the introduction of new healthcare technologies and innovations which may influence both the supply and demand dynamics of private prepaid health plans in South Korea.
