South Korea Point-of-care Molecular Diagnostics Market Size & Outlook
South Korea point-of-care molecular diagnostics market, 2018-2030 (US$M)
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South Korea point-of-care molecular diagnostics market highlights
- The South Korea point-of-care molecular diagnostics market generated a revenue of USD 42.8 million in 2023 and is expected to reach USD 69.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, infectious diseases was the largest revenue generating application in 2023.
- Oncology is the most lucrative application segment registering the fastest growth during the forecast period.
Point-of-care molecular diagnostics market data book summary
| Market revenue in 2023 | USD 42.8 million |
| Market revenue in 2030 | USD 69.4 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Infectious diseases |
| Fastest growing segment | Oncology |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oncology, Prenatal Testing, Endocrinology, Other Applications, Hematology, Infectious Diseases |
| Key market players worldwide | Roche, Abbott Laboratories, Qiagen NV, Bayer AG, Nova Biomedical, Danaher Corp, Nipro Corp, Bio-Rad Laboratories Inc, Agilent Technologies Inc, BioMerieux SA, OraSure Technologies Inc, Abaxis |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.8% of the global point-of-care molecular diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan point-of-care molecular diagnostics 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 401.2 million by 2030.
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Point-of-Care Molecular Diagnostics Market Scope
Point-of-Care Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea point-of-care molecular 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 point-of-care molecular diagnostics market will help companies and investors design strategic landscapes.
Infectious diseases was the largest segment with a revenue share of 93.46% in 2023. Horizon Databook has segmented the South Korea point-of-care molecular diagnostics market based on oncology, prenatal testing, endocrinology, other applications, hematology, infectious diseases covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is witnessing significant advancements in terms of sensors incorporated in minimally invasive as well as noninvasive glucose monitoring systems. For instance, in August 2022, DxGen Corp entered into a partnership agreement with Precision Diabetes, Inc. to launch a fully automatic POC analyzer, Epithod AutoDx, which measures a comprehensive profile of diabetes tests.
In addition, the Ulsan National Institute of Korea (UNIST) is engaged in the development of soft lenses for smart contact lenses, including glucose detection. Moreover, the Electronics and Telecommunications Research Institute in Korea (ETRI) is focusing on the development of a fingertip glucose detection system via photoacoustic spectroscopy technology. Thus, continuous developments in the country have boosted the demand for POC diagnostic tests.
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Target buyers of South Korea point-of-care molecular diagnostics market databook
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Our clientele includes a mix of point-of-care molecular 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 point-of-care molecular diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea point-of-care molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea point-of-care molecular diagnostics market size, by application, 2018-2030 (US$M)
South Korea Point-of-Care Molecular Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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