South Korea In-Vitro Diagnostics Market Size, Share, Price, Trends, Growth, Analysis, Outlook, Report, Forecast 2023-2028

The South Korea In-Vitro Diagnostics Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global South Korea In-Vitro Diagnostics market. This report explores all the key factors affecting the growth of the global South Korea In-Vitro Diagnostics market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Overview

The South Korea In Vitro Diagnostics market size stood at around USD xx billion in 2019 and is projected to reach xx billion by 2028, exhibiting a CAGR of around 5.4% during the forecast period.

South Koreais the 27th largest country worldwide. There is a growing demand for new technologies in the laboratory sector and the business environment inSouth Koreafor medical devices and equipment is favourable and fairly efficient.

In vitro diagnostics (IVD) are medical devices, which require use of assays and reagents to diagnose a medical condition. These instruments analyse body fluids and tissue samples collected from a patient. In addition, there are various types of in vitro diagnostic instruments that work on different techniques such as immunodiagnostics, tissue diagnostics, haematology, and molecular diagnostics. In vitro diagnostics are employed in diagnosis of various medical conditions such as infectious diseases, cancer, cardiac disorders, and nephrological disorders. Use and handling of in vitro diagnostics require technical expertise and thus, instruments are used in specialized medical facilities to carry out diagnosis.

 

 

Market Drivers

In 2020, South Korea reported around 230,317 new cases of cancer (Globocan) and around 3,689,400 cases of adults suffering from diabetes (International Diabetes Federation). In vitro diagnostics played a vital role in the detection of these diseases. Hence, with such factors taken into attention, the growing burden of chronic diseases is expected to accelerate the market growth.

Point-of-care testing has advantages as it helps in bringing testing closer to the patients and obtain results quickly for the healthcare providers to accelerate diagnoses and subsequent treatment. Hence, this is likely to increase the adoption of in vitro diagnostics in the country.

Some of the other major factors driving the market growth include advanced technologies, increasing awareness and acceptance of personalized medicines and companion diagnostics. Furthermore, IVD has played a crucial role in the pandemic of COVID-19, and hence, a significant positive impact can be expected on the market growth.

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Market Segmentation

By Product:

On the basis of product market is segmented into reagents, instruments, and others. Reagents are expected to hold the major share over the forecast period. The reagents segment includes chemical, biological, or immunological components, solutions, or preparations used by the manufacturers in the in vitro diagnosis process.

By Technique:

According to the techniques used market is segmented as immunodiagnostics, haematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others.

By End Users:

According to end users in vitro diagnostics market is segmented as diagnostic laboratories, hospitals and clinics and other users.

Top Players

South Korea in vitro diagnostics market is fairly competitive and consists of a number of major players. Companies that hold a sizeable share in the South Korea in vitro diagnostics market are Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Danaher Corporation, Roche Diagnostics, Siemens Healthcare, and Sysmex Corporation.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global South Korea In-Vitro Diagnostics Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global South Korea In-Vitro Diagnostics Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the South Korea In-Vitro Diagnostics market
Chapter 2: Exclusive Summary - the basic information of the South Korea In-Vitro Diagnostics Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the South Korea In-Vitro Diagnostics
Chapter 4: Presenting the South Korea In-Vitro Diagnostics Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the South Korea In-Vitro Diagnostics market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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