South Korea Biosensors Market Size & Outlook, 2022-2030
South Korea biosensors market, 2018-2030 (US$M)
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South Korea biosensors market highlights
- The South Korea biosensors market generated a revenue of USD 670.0 million in 2022 and is expected to reach USD 1,176.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.3% from 2023 to 2030.
- In terms of segment, electrochemical was the largest revenue generating technology in 2022.
- Electrochemical is the most lucrative technology segment registering the fastest growth during the forecast period.
Biosensors market data book summary
| Market revenue in 2022 | USD 670.0 million |
| Market revenue in 2030 | USD 1,176.7 million |
| Growth rate | 7.3% (CAGR from 2022 to 2030) |
| Largest segment | Electrochemical |
| Fastest growing segment | Electrochemical |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermal, Electrochemical, Piezoeletric, Optical |
| Key market players worldwide | Bio-Rad Laboratories Inc, Medtronic PLC, Abbott Laboratories, Biosensors, Pinnacle Financial Partners Inc, DuPont Nutrition & Biosciences, Johnson & Johnson, Koninklijke Philips NV, Nova Biomedical, Koch Industries, TDK Corp, Siemens AG |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global biosensors market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biosensors market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 787.5 million by 2030.
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Biosensors Market Scope
Biosensors Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea biosensors market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biosensors market will help companies and investors design strategic landscapes.
Electrochemical was the largest segment with a revenue share of 69.52% in 2022. Horizon Databook has segmented the South Korea biosensors market based on thermal, electrochemical, piezoeletric, optical covering the revenue growth of each sub-segment from 2018 to 2030.
The SARS-Co-V-2 pandemic has not only led to health crisis all over the world but also created a socioeconomic burden. The WHO is urging international organizations for massive testing to curb the spread of COVID-19, as diagnostics plays a very important role in the timely decision of treatment and isolation of the infected people. As per the South Korea Hospital 2020, South Korea is able to perform tests of around 20,000 citizens per day by adopting aggressive testing campaigns enabled by the phone booth and drive through testing methods.
The technology behind this aggressive testing is bio sensing. Thus, with increasing prevalence of COVID-19, government initiatives are expected to fuel the market growth of . Private companies are also investing in the research and development along with the government. For instance, big companies such as Celliturion and Samsung have announced to invest in the biosimilar field. This includes investment in the sectors such as biological operations and artificial intelligence. Thus, driving the market growth.
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Our clientele includes a mix of biosensors market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea biosensors market , including forecasts for subscribers. This country databook contains high-level insights into South Korea biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea biosensors market size, by technology, 2018-2030 (US$M)
South Korea Biosensors Market Outlook Share, 2022 & 2030 (US$M)
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