South Korea In-vitro Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Technique, Product, Usability, Application, and End Users

Market Snapshot

South Korea In-Vitro Diagnostics Market
Study Period:

2016-2024

Base Year:

2018

Key Players:

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Market Overview

The South Korean in-vitro diagnostics market is expected witness a CAGR of 5.4% during the forecast period. Certain factors that are driving the market growth include the high prevalence of chronic diseases, increasing use of point-of-care (POC) diagnostics, advanced technologies, and increasing awareness and acceptance of personalized medicine and companion diagnostics.

According to the Ministry of Health and Welfare, chronic illness accounts for the majority of ailments in South Korea, a condition worsened by the health care system’s focus on treatment relatively more than prevention. South Korean adults run the risk of chronic diseases due to an unhealthy diet, a report from a state-run agency showed. According to the “Public Health Weekly Report” published in 2018 by the Korea Centers for Disease Control and Prevention, Koreans eat much less than the recommended daily intake of nut and seeds, calcium, milk, vegetables, and fruits. On the other hand, they eat much more than the recommended amount of red meat, processed meat, and sugar-sweetened beverages.

Scope of the Report

As per the scope of this report, in-vitro diagnostics involve medical devices and consumables that are utilized to perform in-vitro tests on various biological samples. They are used for the diagnosis of various medical conditions, such as chronic diseases.

Technique
Histochemistry
Molecular Diagnostics
Hematology
POC Testing
Self-blood Glucose Testing
Immunochemistry
Other Techniques
Product
Instrument
Reagent
Data Management System
Usability
Disposable IVD Devices
Reusable IVD Devices
Application
Infectious Disease
Diabetes
Cancer/Oncology
Cardiology
Autoimmune Disease
Nephrology
Drug Testing
Other Applications
End Users
Academia
Laboratories
Hospitals and Clinics
Other End Users

Report scope can be customized per your requirements. Click here.

Key Market Trends

Reagent is Expected to hold its Highest Market Share in the Product Segment

The reagent segment of the market studied includes chemical, biological, or immunological components, solutions, or preparations intended by the manufacturer to be used during the in-vitro diagnosis process. Because of the high cost of many diagnostic platforms, it is common for manufacturers to lease equipment instead of selling technology outright to end users. In these arrangements, the lease is tied to contracts to purchase associated reagents or assays for the equipment over the life of the contract. Many diagnostic companies have an excess of 75% of sales from consumables, such as assays and reagents and such agreements guarantee the generation of cyclic revenues associated with the sale of reagents and other consumables.

South Korea In-Vitro Diagnostics Market

To understand key trends, Download Sample Report

Competitive Landscape

The South Korean in-vitro diagnostics market is highly competitive and consists of a number of major players. Companies like Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Danaher Corporation, Johnson & Johnson, Roche Diagnostics, Siemens Healthcare, Thermo Fisher Scientific Inc., among others, hold the substantial market share in the South Korean in-vitro diagnostics market.

Major Players

  1. Abbott Laboratories
  2. Becton, Dickinson, and Company
  3. Bio-Rad Laboratories Inc.
  4. Danaher Corporation
  5. Johnson & Johnson

* Complete list of players covered available in the table of contents below

South Korea In-Vitro Diagnostics Market

Download the market shares of key players in this industry.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 High Prevalence of Chronic Diseases

      2. 4.2.2 Increasing Use of Point-of-care (POC) Diagnostics

      3. 4.2.3 Advanced Technologies

      4. 4.2.4 Increasing Awareness and Acceptance of Personalized Medicine and Companion Diagnostics

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulations

      2. 4.3.2 Cumbersome Reimbursement Procedures

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technique

      1. 5.1.1 Histochemistry

      2. 5.1.2 Molecular Diagnostics

      3. 5.1.3 Hematology

      4. 5.1.4 POC Testing

      5. 5.1.5 Self-blood Glucose Testing

      6. 5.1.6 Immunochemistry

      7. 5.1.7 Other Techniques

    2. 5.2 Product

      1. 5.2.1 Instrument

      2. 5.2.2 Reagent

      3. 5.2.3 Data Management System

    3. 5.3 Usability

      1. 5.3.1 Disposable IVD Devices

      2. 5.3.2 Reusable IVD Devices

    4. 5.4 Application

      1. 5.4.1 Infectious Disease

      2. 5.4.2 Diabetes

      3. 5.4.3 Cancer/Oncology

      4. 5.4.4 Cardiology

      5. 5.4.5 Autoimmune Disease

      6. 5.4.6 Nephrology

      7. 5.4.7 Drug Testing

      8. 5.4.8 Other Applications

    5. 5.5 End Users

      1. 5.5.1 Academia

      2. 5.5.2 Laboratories

      3. 5.5.3 Hospitals and Clinics

      4. 5.5.4 Other End Users

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Becton, Dickinson, and Company

      3. 6.1.3 Bio-Rad Laboratories Inc.

      4. 6.1.4 Danaher Corporation

      5. 6.1.5 Johnson & Johnson

      6. 6.1.6 Roche Diagnostics

      7. 6.1.7 Siemens Healthcare

      8. 6.1.8 Thermo Fisher Scientific Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please Enter a Valid Message!


Complete your payment details below

Shipping & Billing Information

Payment Information