South Korea Diagnostic Labs Market to See Remarkable Growth by 2028 Amid Increased Demand for Early Disease Detection and Growing Chronic Conditions Prevalence

Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "South Korea Diagnostic Labs Market Competition Forecast and Opportunities, 2028" report has been added to's offering.

South Korea Diagnostic Labs market is anticipated to register an impressive CAGR during the forecast period, 2024-2028. This can be ascribed to the growing burden of chronic diseases. Additionally, the expansion of the South Korea Diagnostic Labs market is being influenced by the increasing demand for early detection of chronic diseases. Owing to the development of new technologies, the diagnostic lab market in South Korea is predicted to increase significantly during the forecast period.

The market for diagnostic labs in South Korea is expanding as a result of increasing healthcare costs, rising point-of-care diagnostics utilisation, and rising chronic diseases prevalence. However, the overall market expansion is hampered by the lack of skilled professionals.

The market for diagnostic labs was expanding steadily before the COVID-19 pandemic as cancer screening, consultations, and treatments became common. During the pandemic, the detection and diagnosis of COVID patients had a significant impact on the diagnostic lab market. The healthcare-focused IT sector offers a variety of investment opportunities, particularly in start-ups that are creating innovative drugs and diagnostic devices.

Moreover, the rising healthcare expenditure to improve the existing healthcare infrastructure in developing countries has resulted in the establishment of numerous new hospitals and diagnostic labs and the upgrade of the existing facilities. Development of new diagnostic labs in South Korea is expected to influence the growth of South Korea Diagnostic Labs Market during the forecast period.

The primary cause of death in South Korea is Cancer. 161.1 deaths per 100,000 have been observed due to cancer in 2021, which is an increase of 0.6% percent from the year 2020. Most deaths are caused due to lung cancer, followed by liver cancer.

Report Scope:

South Korea Diagnostic Labs Market, By Provider Type:

  • Stand Alone Diagnostic Labs
  • Hospital-Based Diagnostic Labs
  • Diagnostic Chains

South Korea Diagnostic Labs Market, By Test Type:

  • Pathology
  • Radiology

South Korea Diagnostic Labs Market, By End User:

  • Referrals
  • Walk-ins
  • Corporate Clients

A selection of companies mentioned in this report includes

  • Green Cross Laboratories
  • Seegene medical foundation
  • Infinitt Healthcare Co.,Ltd.
  • Medipost Co.,Ltd.
  • Bio Focus Co., Ltd.
  • Geneone Life Science Inc.
  • Humanpass Inc.
  • Ellead
  • Eone Diagnomics Genome Center

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South Korean Diagnostic Labs Market

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