The IVD Market in South Korea, 2024

The IVD Market in South Korea, 2024 offers a comprehensive overview of the in vitro diagnostics (IVD) market in South Korea and the factors shaping it. The report presents South Korea's IVD revenues for 2023 and forecasts for 2028, segmented into clinical chemistry, immunoassay, microbiology/molecular testing, point-of-care (POC), and histology/cytology. Included in the report are trends influencing the industry and country-level data including incidence of disease, life expectancy, population demographics, economic status, healthcare utilization and other market influences.

The report is designed to provide the reader with an overview of the IVD market in South Korea and its influences.  The focus is on the IVD discipline including reagents, consumables, calibrators, and controls of the following sub-segments:

• Clinical Chemistry: routine lab testing; substrates, enzymes, homogeneous immunoassays, proteins, ISE (non-POC), HBA1c (non-POC). Includes urinalysis and blood chemistry testing. Hematology and hemoglobin tests are also included in this segment.
• Immunoassays: hormones and thyroid function, tumor markers, allergy, anemia, neonatal tests, prenatal tests, interleukins, PCT, toxicology and common infectious diseases (HIV, hepatitis, influenza).
• Microbiology and Molecular Testing: manual and automated tests, culture media (to be prepared or ready to use), latex tests, transport media, blood culture, sensitivity discs, Gram and other stains, MTB culture, Mycoplasma, Ureaplasma, nucleic acid testing. 
• Point-of-Care Testing: all POC tests for cardiology, toxicology, coagulation, diabetes, infectious diseases. Includes POC and non-POC blood gas and electrolytes.  Also includes glucose self-monitoring tests.
• Histology/Cytology: PAP, HE, IHC, ISH, FISH, primary and secondary antibodies. 

Scope

The information in the report was gathered using both primary and secondary research methods including interviews with industry participants and representatives, completed during the period of January 2024 and February 2024.  These interviews were with government officials, medical device regulators, domestic-based distributors, health care providers and global market participants.  Secondary data included the use of government databases, company literature, medical journals and reports. 

All market data pertains to the South Korean IVD market at the manufacturers' level.  Market data is presented for the 2023 year with forecast data provided for 2028.  Compound annual growth rates (CAGRs) are provided for the 2023-2028 period.