South Korea Flow Cytometry Market Size & Outlook
South Korea flow cytometry market, 2018-2030 (US$M)
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South Korea flow cytometry market highlights
- The South Korea flow cytometry market generated a revenue of USD 92.8 million in 2023 and is expected to reach USD 148.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7% from 2024 to 2030.
- In terms of segment, instruments was the largest revenue generating product in 2023.
- Software is the most lucrative product segment registering the fastest growth during the forecast period.
Flow cytometry market data book summary
| Market revenue in 2023 | USD 92.8 million |
| Market revenue in 2030 | USD 148.9 million |
| Growth rate | 7% (CAGR from 2023 to 2030) |
| Largest segment | Instruments |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Reagents & Consumables, Software, Accessories, Services |
| Key market players worldwide | Danaher Corp, BD, Sysmex Corp, Agilent Technologies, Apogee Enterprises Inc, Bio-Rad Laboratories Inc Class A, Thermo Fisher Scientific Inc, Wipro Ltd ADR, Diasorin SpA, Miltenyi Biotec, Sony Group Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.1% of the global flow cytometry market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China flow cytometry market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 590.5 million by 2030.
Instruments was the largest segment with a revenue share of 36.21% in 2023. Horizon Databook has segmented the South Korea flow cytometry market based on instruments, reagents & consumables, software, accessories, services covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea exhibits high potential for R&D capabilities in pharmaceutical and biopharmaceutical sectors, which is expected to boost the demand for flow cytometry products for research purposes. Cancer research has become a national priority for the Korean government.
The Korean government supports a number of universities, institutions, and researchers to facilitate cancer research activities, which is anticipated to create high demand for flow cytometry products in the country.
For instance, in June 2019, AstraZeneca announced that it will spend USD 630 million on R&D in South Korea over the next five years. Moreover, local presence of key players and increasing entry of emerging players into the country are leading to an increase in the country’s access to cost-effective flow cytometry products.
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Flow Cytometry Market Scope
Flow Cytometry Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea flow cytometry market size, by product, 2018-2030 (US$M)
South Korea Flow Cytometry Market Outlook Share, 2023 & 2030 (US$M)
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