South Korea Infectious Respiratory Disease Diagnostics Market Size & Outlook
South Korea infectious respiratory disease diagnostics market, 2016-2028 (US$M)
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South Korea infectious respiratory disease diagnostics market highlights
- The South Korea infectious respiratory disease diagnostics market generated a revenue of USD 183.7 million in 2020 and is expected to reach USD 295.6 million by 2028.
- The South Korea market is expected to grow at a CAGR of 6.1% from 2021 to 2028.
- In terms of segment, consumables was the largest revenue generating product in 2020.
- Consumables is the most lucrative product segment registering the fastest growth during the forecast period.
Infectious respiratory disease diagnostics market data book summary
| Market revenue in 2020 | USD 183.7 million |
| Market revenue in 2028 | USD 295.6 million |
| Growth rate | 6.1% (CAGR from 2020 to 2028) |
| Largest segment | Consumables |
| Fastest growing segment | Consumables |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Consumables, Services |
| Key market players worldwide | Abbott Laboratories, Thermo Fisher Scientific Inc, Koninklijke Philips NV, BD, BioMerieux SA, Bio-Rad Laboratories Inc, QuidelOrtho Corp, Siemens Healthineers AG ADR, Danaher Corp, Qiagen NV, Roche |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.5% of the global infectious respiratory disease diagnostics market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, India infectious respiratory disease diagnostics market is projected to lead the regional market in terms of revenue in 2028.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 680.9 million by 2028.
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Infectious Respiratory Disease Diagnostics Market Scope
Infectious Respiratory Disease Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea infectious respiratory disease 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 infectious respiratory disease diagnostics market will help companies and investors design strategic landscapes.
Consumables was the largest segment with a revenue share of 60.15% in 2020. Horizon Databook has segmented the South Korea infectious respiratory disease diagnostics market based on instruments, consumables, services covering the revenue growth of each sub-segment from 2016 to 2028.
Increasing awareness among people and rising government support is expected to drive the growth of the infectious respiratory disease diagnostics market in South Korea. For instance, North Korea and South Korea have entered into an agreement to develop measures for combating infectious diseases, especially tuberculosis.
In addition, the increasing incidence of infectious diseases, such as pneumonia and pertussis, is expected to drive market growth. Furthermore, the country has announced that the government will cover all expenses for COVID-19 and has been effective in containing the infection rate.
Thus, this initiative is expected to boost the number of tests for COVID-19, thereby fueling the market growth. The country conducted over 1,804,422 tests as of August 24, 2020. South Korea has set up around 50 drive-through testing centers, which is expected to drive the market in the country.
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Our clientele includes a mix of infectious respiratory disease diagnostics 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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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea infectious respiratory disease diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea infectious respiratory disease diagnostics market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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South Korea infectious respiratory disease diagnostics market size, by product, 2016-2028 (US$M)
South Korea Infectious Respiratory Disease Diagnostics Market Outlook Share, 2020 & 2028 (US$M)
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