South Korea Rare Disease Genetic Testing Market Size & Outlook
South Korea rare disease genetic testing market, 2016-2028 (US$M)
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South Korea rare disease genetic testing market highlights
- The South Korea rare disease genetic testing market generated a revenue of USD 8.8 million in 2020 and is expected to reach USD 13.1 million by 2028.
- The South Korea market is expected to grow at a CAGR of 5.2% from 2021 to 2028.
- In terms of segment, neurological disorders was the largest revenue generating disease type in 2020.
- Cancer is the most lucrative disease type segment registering the fastest growth during the forecast period.
Rare disease genetic testing market data book summary
| Market revenue in 2020 | USD 8.8 million |
| Market revenue in 2028 | USD 13.1 million |
| Growth rate | 5.2% (CAGR from 2020 to 2028) |
| Largest segment | Neurological disorders |
| Fastest growing segment | Cancer |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Neurological Disorders, Immunological Disorders, Hematology Diseases, Endocrine & Metabolism Diseases, Cancer, Musculoskeletal Disorders, Cardiovascular Disorders, Dermatology Disease |
| Key market players worldwide | Quest Diagnostics Inc, Centogene NV Ordinary Shares, Invitae Corp, Eurofins Scientific SE, PerkinElmer, Macrogenics Inc, Fulgent Genetics Inc, Myriad Genetics Inc, Labcorp Holdings Inc, OPKO Health Inc, 3billion, ARUP Laboratories, Strand Life Sciences, Ambry Genetics, REALM IDx, Inc., Baylor Genetics, Health Network Laboratories, PreventionGenetics, Biora Therapeutics, CooperSurgical, Artemis DNA |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.1% of the global rare disease genetic testing market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, China rare disease genetic testing market is projected to lead the regional market in terms of revenue in 2028.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 43.0 million by 2028.
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Rare Disease Genetic Testing Market Scope
Rare Disease Genetic Testing Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea rare disease genetic 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 rare disease genetic testing market will help companies and investors design strategic landscapes.
Neurological disorders was the largest segment with a revenue share of 15.91% in 2020. Horizon Databook has segmented the South Korea rare disease genetic testing market based on neurological disorders, immunological disorders, hematology diseases, endocrine & metabolism diseases, cancer, musculoskeletal disorders, cardiovascular disorders, dermatology disease covering the revenue growth of each sub-segment from 2016 to 2028.
The government bodies and healthcare agencies are undertaking various efforts to advance the management of rare diseases in the country. For instance, in January 2019, the Korea Centers for Disease Control and Prevention (KCDC) announced to commence a national project on increasing the number of hospitals that provide care for patients with rare diseases.
With this, hospitals’ capabilities and quality of medical service for rare disease diagnosis would improve. Furthermore, the Korean Ministry of Food and Drug Safety supports projects that aimed at helping patients suffering from rare diseases. In addition, the ministry operates a technology support team to support companies that are engaged in commercializing drugs and diagnostic devices for dementia.
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Target buyers of South Korea rare disease genetic testing market databook
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Our clientele includes a mix of rare disease genetic testing 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 rare disease genetic testing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea rare disease genetic testing market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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South Korea Rare Disease Genetic Testing Market Outlook Share, 2020 & 2028 (US$M)
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