South Korea In Vitro Diagnostics Market Size & Outlook, 2025-2028
South Korea In Vitro Diagnostics Market Size
According to Straits Research analysis, the South Korea In Vitro Diagnostics Market was valued at USD 1412.92 Million in 2024 and is projected to reach USD 1752.92 Million by 2028, expanding at a CAGR of 5.7% during the forecast period. This growth is buoyed by significant developments in healthcare infrastructure, the rising prevalence of chronic diseases, and a growing geriatric population. The market's primary drivers include industries such as healthcare, biotechnology, and pharmaceuticals with applications extending to infectious disease testing, oncology testing, and diabetes monitoring. Emerging trends include advancements in technology with the advent of automated devices and real-time monitoring systems. Additionally, South Korea shows substantial export potential, as it is recognized for its high-quality medical devices. South Korea is poised to become a dominant player in the global In Vitro Diagnostics market with its innovative solutions and strategic collaborations.
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea In Vitro Diagnostics Market Highlights
- Reagents and Kits held the leading position among Product and Services segments in 2024, based on market size.
- Reagents and Kits is projected to post the fastest growth rate, sustaining its position as the most attractive Product and Services segment during the forecast horizon.
- South Korea accounted for 1.7% of the global in vitro diagnostics market size in 2024.
- By 2028, United States is expected to remain the top global market in terms of size.
- Within Asia Pacific, China is forecasted to dominate the regional in vitro diagnostics market size by 2028.
- India will be the fastest-growing market in Asia Pacific, projected to achieve USD 58503 Million by 2028.
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Report Summary
| Report Scope | Details |
|---|---|
| Base Year for Study | 2024 |
| Study Period | 2020-2028 |
| Historical Period | 2020-2023 |
| Forecast Period | 2025-2028 |
| Market Size In 2024 | USD 1412.92 Million |
| Market Size In 2028 | USD 1752.92 Million |
| Largest segment | Reagents and Kits |
| Fastest segment | Reagents and Kits |
| Units | Revenue in USD Million |
| CAGR | 5.7% (2025-2028) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
South Korea In Vitro Diagnostics Market Share By Product and Services
Segmentation Covered
| Segments | Sub Segments |
|---|---|
| Product and Services |
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| Technology |
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| Application |
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| End User |
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South Korea In Vitro Diagnostics Market By Product and Services 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea In Vitro Diagnostics Market By Technology 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea In Vitro Diagnostics Market By Application 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea In Vitro Diagnostics Market By End User 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
