South Korea Blood Transfusion Diagnostics Market Size & Outlook
South Korea blood transfusion diagnostics market, 2016-2027 (US$M)
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South Korea blood transfusion diagnostics market highlights
- The South Korea blood transfusion diagnostics market generated a revenue of USD 79.8 million in 2020 and is expected to reach USD 136.9 million by 2027.
- The South Korea market is expected to grow at a CAGR of 8% from 2021 to 2027.
- In terms of segment, reagents & kits was the largest revenue generating product in 2020.
- Reagents & Kits is the most lucrative product segment registering the fastest growth during the forecast period.
Blood transfusion diagnostics market data book summary
| Market revenue in 2020 | USD 79.8 million |
| Market revenue in 2027 | USD 136.9 million |
| Growth rate | 8% (CAGR from 2020 to 2027) |
| Largest segment | Reagents & kits |
| Fastest growing segment | Reagents & Kits |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Reagents & Kits, Instruments |
| Key market players worldwide | Grifols SA Ordinary Shares - Class A, Bio-Rad Laboratories Inc, Roche Holding AG ADR, Quotient Sciences, Abbott Laboratories, BioMerieux SA, Siemens Healthineers AG ADR, MedGenome, Beckman Coulter |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.1% of the global blood transfusion diagnostics market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, Japan blood transfusion diagnostics market is projected to lead the regional market in terms of revenue in 2027.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 295.1 million by 2027.
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Blood Transfusion Diagnostics Market Scope
Blood Transfusion Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea blood transfusion diagnostics 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 blood transfusion diagnostics market will help companies and investors design strategic landscapes.
Reagents & kits was the largest segment with a revenue share of 66.42% in 2020. Horizon Databook has segmented the South Korea blood transfusion diagnostics market based on reagents & kits, instruments covering the revenue growth of each sub-segment from 2016 to 2027.
There is high demand for blood transfusion in the country due to rise in the number of people aged 50 & above and this population group requires around 73% of blood transfusions. According to Korea's Centers for Disease Control and Prevention data, the blood transfusion rate is double in Korea as compared to Japan.
It also estimated that Korea uses 41 red blood cell units per 1,000 people in comparison to 26.3 units used by Japan. Thus, despite excessive blood transfusions carried out in the country, there is a sustaining shortage of blood donations in Korea, which is resulting in slow market growth in the country.
Increasing initiatives such as the Memorandum of Understanding (MoU) between Korean National Red Cross and USFK Command Surgeon led to organization of a blood donation camp at the U.S. Garrison Humphreys in South Korea on July 21, 2021, and 65 people contributed.
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Our clientele includes a mix of blood transfusion diagnostics market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea blood transfusion diagnostics market, including forecasts for subscribers. This country databook contains high-level insights into South Korea blood transfusion diagnostics market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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South Korea blood transfusion diagnostics market size, by product, 2016-2027 (US$M)
South Korea Blood Transfusion Diagnostics Market Share, 2020 & 2027 (US$M)
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