South Korea Covid-19 Detection Poc Kits Market Size & Outlook
South Korea covid-19 detection poc kits market, 2020-2030 (US$M)
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South Korea covid-19 detection poc kits market highlights
- The South Korea covid-19 detection poc kits market generated a revenue of USD 11.5 million in 2022 and is expected to reach USD 7.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of -4.8% from 2023 to 2030.
- In terms of segment, nasopharyngeal (np) swab was the largest revenue generating type in 2022.
- Oropharyngeal (OP) swab is the most lucrative type segment registering the fastest growth during the forecast period.
Covid-19 detection poc kits market data book summary
| Market revenue in 2022 | USD 11.5 million |
| Market revenue in 2030 | USD 7.7 million |
| Growth rate | -4.8% (CAGR from 2022 to 2030) |
| Largest segment | Nasopharyngeal (np) swab |
| Fastest growing segment | Oropharyngeal (OP) swab |
| Historical data | 2020 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Nasopharyngeal (NP) swab, Oropharyngeal (OP) swab, Nasal Swabs, Saliva |
| Key market players worldwide | Abbott Laboratories, Mylab Discovery Solutions, Converge Technology Solutions Corp, Thermo Fisher Scientific Inc, Roche, Danaher Corp, Birks Group Inc Class A, Cue Health Inc, Quest Diagnostics Inc, SD Biosensor |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.3% of the global covid-19 detection poc kits market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India covid-19 detection poc kits 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 272.5 million by 2030.
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COVID-19 Detection PoC Kits Market Scope
COVID-19 Detection PoC Kits Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea covid-19 detection poc kits 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 covid-19 detection poc kits market will help companies and investors design strategic landscapes.
Nasopharyngeal (np) swab was the largest segment with a revenue share of 58.26% in 2022. Horizon Databook has segmented the South Korea covid-19 detection poc kits market based on nasopharyngeal (np) swab, oropharyngeal (op) swab, nasal swabs, saliva covering the revenue growth of each sub-segment from 2020 to 2030.
South Korea adopted widespread and rapid testing amid the pandemic, while also closely tracking all individuals exposed to the virus. Testing and tracking have allowed the country to control the spread of the virus.
Local governing bodies increased the number of screening centers to detect potential asymptomatic carriers and designated certain hospitals as infection control centers to maintain medical capacity. Moreover, the national government cooperated with national health insurance agencies and local bodies to monitor & test all travelers from Wuhan.
Increasing incidence of COVID-19 further boosted the demand for diagnostic tools in the country. South Korea is one of the leading exporters of COVID-19 diagnostic kits in the world. As per the Foundation for Innovative New Diagnostics (FIND), it is in the second position, after China, in the list of countries with the most used COVID-19 diagnostic kits.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea covid-19 detection poc kits market , including forecasts for subscribers. This country databook contains high-level insights into South Korea covid-19 detection poc kits market from 2020 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea covid-19 detection poc kits market size, by type, 2020-2030 (US$M)
South Korea COVID-19 Detection PoC Kits Market Outlook Share, 2022 & 2030 (US$M)
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