South Korea Rapid Medical Diagnostic Kits Market Size & Outlook
South Korea rapid medical diagnostic kits market, 2018-2030 (US$M)
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South Korea rapid medical diagnostic kits market highlights
- The South Korea rapid medical diagnostic kits market generated a revenue of USD 423.4 million in 2023 and is expected to reach USD 687.9 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, otc rdt was the largest revenue generating product in 2023.
- OTC RDT is the most lucrative product segment registering the fastest growth during the forecast period.
Rapid medical diagnostic kits market data book summary
| Market revenue in 2023 | USD 423.4 million |
| Market revenue in 2030 | USD 687.9 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Otc rdt |
| Fastest growing segment | OTC RDT |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | OTC RDT, Professional RDT |
| Key market players worldwide | ACON Laboratories, Abbott Laboratories, BD, BioMerieux SA, Bio-Rad Laboratories Inc, Danaher Corp, Cardinal Health Inc, Creative Diagnostics, Roche, McKesson Corp, Meridian Bioscience, Trinity Biotech PLC ADR, Zoetis Inc Class A, Artron Bioresearch, Alfa Medical Group, BioNTech SE ADR, Sight Diagnostics |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.2% of the global rapid medical diagnostic kits market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China rapid medical diagnostic kits market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 680.7 million by 2030.
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Rapid Medical Diagnostic Kits Market Scope
Rapid Medical Diagnostic Kits Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea rapid medical diagnostic 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 rapid medical diagnostic kits market will help companies and investors design strategic landscapes.
Otc rdt was the largest segment with a revenue share of 62.56% in 2023. Horizon Databook has segmented the South Korea rapid medical diagnostic kits market based on otc rdt, professional rdt covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in partnerships among new market entrants to develop new rapid diagnostic tests is anticipated to fuel the market during the forecast period. For instance, in January 2018, Atomo Diagnostics and Access Bio partnered to expand access to HIV rapid testing in the international market.
As per the agreement, the companies will be increasing the access of HIV rapid testing in territories across South East Asia, Africa, and South America. Access Bio will be utilizing AtomoRapid by Atomo Diagnostics. This is a lateral flow diagnostic platform that will be used along with Access Bio’s HIV rapid test CareStart.
This test is used to detect the absence or presence of HIV antibodies in a single drop of blood, which is obtained from the patients’ fingertip. This collaboration will help Access Bio enhance its existing rapid test range.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea rapid medical diagnostic kits market , including forecasts for subscribers. This country databook contains high-level insights into South Korea rapid medical diagnostic kits market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea rapid medical diagnostic kits market size, by product, 2018-2030 (US$M)
South Korea Rapid Medical Diagnostic Kits Market Outlook Share, 2023 & 2030 (US$M)
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