South Korea Std Diagnostics Market Size & Outlook
South Korea std diagnostics market, 2017-2030 (US$M)
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South Korea std diagnostics market highlights
- The South Korea std diagnostics market generated a revenue of USD 219.9 million in 2023 and is expected to reach USD 396.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.8% from 2024 to 2030.
- In terms of segment, consumables (reagents and kits) was the largest revenue generating product in 2023.
- Consumables (Reagents and kits) is the most lucrative product segment registering the fastest growth during the forecast period.
Std diagnostics market data book summary
| Market revenue in 2023 | USD 219.9 million |
| Market revenue in 2030 | USD 396.4 million |
| Growth rate | 8.8% (CAGR from 2023 to 2030) |
| Largest segment | Consumables (reagents and kits) |
| Fastest growing segment | Consumables (Reagents and kits) |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments & Services, Consumables (Reagents and kits), Softwares |
| Key market players worldwide | BD, Roche, Hologic Inc, Abbott Laboratories, Danaher Corp, Qiagen NV, OraSure Technologies Inc, Bio-Rad Laboratories Inc, BioMerieux SA, Thermo Fisher Scientific Inc, Seegene, Diasorin SpA |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.2% of the global std diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China std diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 812.1 million by 2030.
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STD Diagnostics Market Scope
STD Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea std 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 std diagnostics market will help companies and investors design strategic landscapes.
Consumables (reagents and kits) was the largest segment with a revenue share of 69.94% in 2023. Horizon Databook has segmented the South Korea std diagnostics market based on instruments & services, consumables (reagents and kits), softwares covering the revenue growth of each sub-segment from 2017 to 2030.
Increasing awareness among people and rising government support are expected to drive the growth of STD diagnostics market in South Korea. Korea CDC statistics published in 2019 suggest that 1,222 new cases of HIV were diagnosed.
In addition, the country’s National Health Insurance Programme covers the total population. Such favorable government initiatives are key factors fueling market growth. Local manufacturing companies are engaged in development of innovative products that may boost market growth in South Korea.
The company expects to create a monopoly for on-site molecular diagnostic devices for confirmatory testing, which can perform RT-PCR and isothermal amplification tests within an hour.
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Our clientele includes a mix of std diagnostics 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 std diagnostics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea std diagnostics market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea std diagnostics market size, by product, 2017-2030 (US$M)
South Korea STD Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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