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South Korea In Vitro Diagnostics Market Size, Share 2031
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South Korea In Vitro Diagnostics Market Size, Share 2031

Segments - South Korea In Vitro Diagnostics Market by Test Types (Clinical Chemistry, Haematology, Immuno Diagnostics, Molecular Diagnostics, and Others), Products (Reagents, Instruments, and Others), Applications (Cardiology, Diabetes, Oncology, Infectious Diseases, Nephrology, Autoimmune Disease, and Others), End-users (Hospitals and Clinics, Diagnostics Laboratories, and Others), and Country ( South Korea) - South Korea Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Vishal Golekar

Upcoming | Report ID :HC-1435 | 4.6 Rating | 78 Reviews | 174 Pages | Format : PDF Excel PPT

Report Description


South Korea In Vitro Diagnostics Market Outlook 2031

The South Korea in vitro diagnostics market size was estimated at USD 4.40 Billion in 2022 and is anticipated to reach USD 6 Billion by 2031, expanding at a CAGR of 3.5% during the forecast period, 2023 - 2031. The growth of the market is attributed to the growing geriatric population and increasing demand for personalized medicines for variety of treatment.

In vitro diagnostic are tests that detects the diseases, infections and conditions. These tests can be conducted in hospitals, laboratories, and home with the help of various instruments ranging from small handheld tests to complex laboratory instruments.

South Korea In Vitro Diagnostics Market Outlook

In vitro diagnostic helps doctor to diagnose patients effectively and to provide the correct treatments. It requires assays and reagents to diagnose a medical condition.

In vitro diagnostic analyzes tissue samples and body fluids collected from a patient. It is also used in precision medicine to identify patients who gets benefit from specific therapies and treatments. In vitro diagnostic includes next generation sequencing tests, which scans the DNA of a person to detect genomic variations.              

  • Growing incidences of infectious and chronic diseases is expected to boost the market growth during the forecast period.
  • Rapid growth of the healthcare industry is key factor fueling the market expansion.
  • Stringent rules and regulations by government act as major challenge that can hinder the market growth.
  • High cost of in vitro diagnostics tests products is anticipated to restrict the market expansion in the coming years.
  • R&D investment and technological advancement associated with in vitro diagnostics products & software is projected to offer significant opportunities for the market players.

Scope of South Korea In Vitro Diagnostics Market Report

The report on the South Korea in vitro diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

In Vitro Diagnostics Market - South Korea Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Test Types (Clinical Chemistry, Haematology, Immuno Diagnostics, Molecular Diagnostics, and Others), Products (Reagents, Instruments, and Others), Applications (Cardiology, Diabetes, Oncology, Infectious Diseases, Nephrology, Autoimmune Disease, and Others), End-users (Hospitals and Clinics, Diagnostics Laboratories, and Others)

Country

South Korea

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Sysmex Corporation; Abbott Laboratories; Danaher Corporation; Becton, Dickinson and Company; Roche Diagnostics; Bio-Rad Laboratories Inc.; and Siemens Healthcare

South Korea In Vitro Diagnostics Market Segment Insights:

Test Types Segment Analysis

Based on test types, the South Korea in vitro diagnostics market is divided into clinical chemistry, haematology, immuno diagnostics, molecular diagnostics, and others.

The immuno diagnostics segment is expected to constitute a key share of the market during the forecast period owing to high usage in detecting infectious microbes by detecting their toxins. Immuno diagnostics is highly accurate in detecting the diseases.

However, the clinical chemistry segment is anticipated to expand at a rapid pace during the forecast period due to high usage in analyzing body fluids for therapeutic and diagnostics purposes.

South Korea In Vitro Diagnostics Market Test Types

Products Segment Analysis

On the basis of products, the market is segmented into reagents, instruments, and others. The reagents segment is expected to represent a key share of the market in the coming years due to reagents involved in every part of in vitro diagnostic test and rising demand for self-testing and point-of-care products.

On the other hand, the instruments segment is anticipated to expand at a rapid pace during the forecast period owing to the growing focus of market key players towards launching of new instruments.

Application Segment Analysis

In terms of applications, the South Korea in vitro diagnostics market is segregated into cardiology, diabetes, oncology, infectious diseases, nephrology, autoimmune disease, and others.

The infectious diseases segment is expected to account for a key share of the market during the forecast period owing to rising incidences of pneumonia, hepatitis, tuberculosis, HIV-AIDS, and other infectious diseases.

South Korea In Vitro Diagnostics Market Applications

End-Users Segment Analysis

On the basis of end-users, the market is segmented into hospitals and clinics, diagnostics laboratories, and others. The hospitals and clinics segment is expected to represent a key share of the market in the coming years due to large amount of diagnostic testing required for supporting clinical decision enhancing patient recovery.

On the other hand, the diagnostics laboratories segment is anticipated to expand at a rapid pace during the forecast period owing to its collaborations with hospital for various operations.

Segments

Test Types

  • Clinical Chemistry
  • Haematology
  • Immuno Diagnostics
  • Molecular Diagnostics
  • Others

Products

  • Reagents
  • Instruments
  • Others

Applications

  • Cardiology
  • Diabetes
  • Oncology
  • Infectious Diseases
  • Nephrology
  • Autoimmune Disease
  • Others

End-Users

  • Hospitals and Clinics
  • Diagnostics Laboratories
  • Others

Country

  • South Korea

Key Players

Competitive Landscape

Key players competing in the South Korea in vitro diagnostics market include Sysmex Corporation; Abbott Laboratories; Danaher Corporation; Becton, Dickinson and Company; Roche Diagnostics; Bio-Rad Laboratories Inc.; and Siemens Healthcare.

Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance, 

  • In March 2020, Gencurix launched its new product, covid-19 rapid immunodiagnostics kit in Korea and European Union.
South Korea In Vitro Diagnostics Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. In Vitro Diagnostics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. In Vitro Diagnostics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. In Vitro Diagnostics Market - Supply Chain
  4.5. Global In Vitro Diagnostics Market Forecast
     4.5.1. In Vitro Diagnostics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. In Vitro Diagnostics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. In Vitro Diagnostics Market Absolute $ Opportunity
5. Global In Vitro Diagnostics Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. In Vitro Diagnostics Market Size and Volume Forecast by Types
     5.3.1. Clinical Chemistry
     5.3.2. Haematology
     5.3.3. Immuno Diagnostics
     5.3.4. Molecular Diagnostics
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global In Vitro Diagnostics Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. In Vitro Diagnostics Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global In Vitro Diagnostics Demand Share Forecast, 2019-2026
7. North America In Vitro Diagnostics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America In Vitro Diagnostics Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America In Vitro Diagnostics Market Size and Volume Forecast by Types
     7.4.1. Clinical Chemistry
     7.4.2. Haematology
     7.4.3. Immuno Diagnostics
     7.4.4. Molecular Diagnostics
     7.4.5. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America In Vitro Diagnostics Demand Share Forecast, 2019-2026
8. Latin America In Vitro Diagnostics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America In Vitro Diagnostics Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America In Vitro Diagnostics Market Size and Volume Forecast by Types
     8.4.1. Clinical Chemistry
     8.4.2. Haematology
     8.4.3. Immuno Diagnostics
     8.4.4. Molecular Diagnostics
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America In Vitro Diagnostics Demand Share Forecast, 2019-2026
9. Europe In Vitro Diagnostics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe In Vitro Diagnostics Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe In Vitro Diagnostics Market Size and Volume Forecast by Types
     9.4.1. Clinical Chemistry
     9.4.2. Haematology
     9.4.3. Immuno Diagnostics
     9.4.4. Molecular Diagnostics
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe In Vitro Diagnostics Demand Share Forecast, 2019-2026
10. Asia Pacific In Vitro Diagnostics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific In Vitro Diagnostics Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific In Vitro Diagnostics Market Size and Volume Forecast by Types
     10.4.1. Clinical Chemistry
     10.4.2. Haematology
     10.4.3. Immuno Diagnostics
     10.4.4. Molecular Diagnostics
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific In Vitro Diagnostics Demand Share Forecast, 2019-2026
11. Middle East & Africa In Vitro Diagnostics Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa In Vitro Diagnostics Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa In Vitro Diagnostics Market Size and Volume Forecast by Types
     11.4.1. Clinical Chemistry
     11.4.2. Haematology
     11.4.3. Immuno Diagnostics
     11.4.4. Molecular Diagnostics
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa In Vitro Diagnostics Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global In Vitro Diagnostics Market: Market Share Analysis
  12.2. In Vitro Diagnostics Distributors and Customers
  12.3. In Vitro Diagnostics Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Sysmex Corporation
     12.4.2. Abbott Laboratories
     12.4.3. Danaher Corporation
     12.4.4. Becton, Dickinson and Company
     12.4.5. Roche Diagnostics
     12.4.6. Bio-Rad Laboratories Inc.
     12.4.7. Siemens Healthcare

Methodology

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