South Korea Laboratory Proficiency Testing Market Size & Outlook
South Korea laboratory proficiency testing market, 2018-2030 (US$M)
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South Korea laboratory proficiency testing market highlights
- The South Korea laboratory proficiency testing market generated a revenue of USD 25.2 million in 2023 and is expected to reach USD 45.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.7% from 2024 to 2030.
- In terms of segment, clinical diagnostics was the largest revenue generating industry in 2023.
- Cannabis is the most lucrative industry segment registering the fastest growth during the forecast period.
Laboratory proficiency testing market data book summary
| Market revenue in 2023 | USD 25.2 million |
| Market revenue in 2030 | USD 45.3 million |
| Growth rate | 8.7% (CAGR from 2023 to 2030) |
| Largest segment | Clinical diagnostics |
| Fastest growing segment | Cannabis |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Clinical Diagnostics, Pharmaceuticals, Microbiology, Cannabis |
| Key market players worldwide | LGC Group, Bio-Rad Laboratories Inc, Randox, Merck KGaA, Randox Biosciences, QACS International, Weqas, BIPEA, NSI Lab Solutions, Absolute Standards, Instand |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.9% of the global laboratory proficiency testing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan laboratory proficiency testing 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 51.3 million by 2030.
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Laboratory Proficiency Testing Market Scope
Laboratory Proficiency Testing Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea laboratory proficiency testing 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 laboratory proficiency testing market will help companies and investors design strategic landscapes.
Clinical diagnostics was the largest segment with a revenue share of 32.94% in 2023. Horizon Databook has segmented the South Korea laboratory proficiency testing market based on clinical diagnostics, pharmaceuticals, microbiology, cannabis covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean pharmaceutical industry is technologically advanced, and consumers spend significantly on healthcare. The adoption of technologically advanced diagnostic devices is growing, which needs constant calibration.
Moreover, coverage of the entire population under Korean National Health Insurance System improves the diagnostics adoption rate in the country, thus acting as a driver. Some of the key local players in the market include National Forensic Service and EONE Laboratories. As proficiency testing is essential for accreditation, the demand for proficiency testing is expected to rise in the coming years.
Furthermore, the presence of many players in the market of South Korea is making the market saturated. However, as most of the proficiency testing service providing companies and organizations are nonprofit, the survival of private, profit-based organizations becomes difficult in the market.
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Our clientele includes a mix of laboratory proficiency testing 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 laboratory proficiency testing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea laboratory proficiency testing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea laboratory proficiency testing market size, by industry, 2018-2030 (US$M)
South Korea Laboratory Proficiency Testing Market Outlook Share, 2023 & 2030 (US$M)
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