|
Forecast
Period
|
2026-2030
|
|
Market
Size (2024)
|
USD
15.26 Million
|
|
Market
Size (2030)
|
USD
85.26 Million
|
|
CAGR
(2025-2030)
|
33.21%
|
|
Fastest
Growing Segment
|
CT
Scanner
|
|
Largest
Market
|
Northern
|
Market Overview
South
Korea Diagnostic Imaging Market was valued at USD 15.26 million in 2024 and is
expected to reach USD 85.26 million by 2030 with a CAGR of 33.21% during the
forecast period. This can be ascribed to the growing technological advancements, growing geriatric population, and the rising prevalence of associated diseases. Several startup companies are combining AI and machine learning techniques into medical diagnostics to ensure better and faster diagnoses, thereby accelerating the growth of South Korea Diagnostic Imaging Market.
Medical images like X-rays, CT scans, and MRIs can be analysed by AI algorithms to help in the detection and diagnosis of a variety of illnesses. Large datasets of annotated medical images can be used to train machine learning models to discover patterns and spot abnormalities. This can make it easier and more accurate for South Korean radiologists and medical professionals to identify illnesses like cancer, cardiovascular issues, and neurological disorders.
Key Market Drivers
Aging
Population and Rising Chronic Disease Burden
South
Korea is experiencing a rapid demographic shift toward an aging population. According
to the Korean Statistical Information Service, individuals aged 65 and over are
projected to constitute 40.1% of the population by 2050, positioning South
Korea among the countries with the highest elderly population ratios globally.
This aging trend correlates with an increased prevalence of chronic diseases,
such as cardiovascular ailments and cancers, which necessitate advanced
diagnostic imaging for effective management.
The
National Health Insurance Service reports a 32.5% increase in healthcare
spending among the elderly between 2017 and 2022, with diagnostic imaging
playing a pivotal role in managing age-related health conditions. Furthermore,
the Korea Health Industry Development Institute notes a 28.3% rise in chronic
diseases requiring advanced imaging technologies over the past five years. These statistics underscore the growing
demand for sophisticated diagnostic imaging solutions to address the healthcare
needs of an aging population.
Government
Investment in Medical Technology and AI Integration
The
South Korean government is actively investing in medical technology
advancements, including the integration of artificial intelligence (AI) into
diagnostic imaging. In 2022, the Ministry of Science and ICT allocated
approximately 1.2 trillion won (around $900 million) for medical technology
research and development, emphasizing sophisticated imaging technologies.
This investment aims to enhance the precision and efficiency of diagnostic
procedures.
Additionally,
the Ministry of Health and Welfare introduced 'The 1st Comprehensive Plan for
Development and Support for the Medical Devices Industry (2023-2027)', focusing
on facilitating market entry for innovative technologies such as AI and digital
solutions. These
initiatives reflect the government's commitment to fostering innovation in the
medical devices sector, thereby driving growth in the diagnostic imaging
market.
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Key Market Challenges
Shortage
of Skilled Radiologists and Technicians
A
significant challenge facing the diagnostic imaging market in South Korea is
the shortage of skilled radiologists and technicians. Despite a 1.3-fold
increase in the number of radiologists from 2013 to 2023, the volume of
radiological examinations has increased tenfold during the same period. This
disparity leads to increased workloads, with radiologists performing an average
of 47 examinations daily, contributing to burnout and reduced job satisfaction.
The
shortage of qualified professionals hampers the efficiency and effectiveness of
diagnostic services, potentially impacting patient care. Addressing this issue
requires strategic workforce planning, including training programs and
incentives to attract and retain skilled personnel in the radiology field.
High
Costs of Advanced Diagnostic Imaging Equipment
The
high costs associated with advanced diagnostic imaging equipment present a
barrier to market expansion, particularly for smaller healthcare facilities.
The capital investment required for purchasing, installing, and maintaining
equipment like MRI and CT scanners can be prohibitive. This financial burden
may limit access to cutting-edge diagnostic technologies, especially in rural
or underserved areas.
Furthermore,
the stringent regulations related to equipment safety and quality add to
operational costs, impacting the affordability and accessibility of diagnostic
imaging services. To overcome these challenges, the government and industry
stakeholders need to explore cost-effective solutions and provide financial
support to healthcare providers for equipment procurement and maintenance.
Key Market Trends
Integration of AI and
Automation in Diagnostic Imaging
The
integration of AI and automation into diagnostic imaging is transforming the
healthcare landscape in South Korea. AI algorithms enhance image accuracy and
processing speed, enabling automatic abnormality detection and more informed
decision-making. This technological advancement improves patient outcomes and
operational efficiency.
The
South Korean government supports this transformation through initiatives like
the AI Open Data Project, which promotes AI development in medical diagnostics.
Moreover, collaborations between domestic and international companies are
accelerating the adoption of AI-powered diagnostic tools in hospitals. These
developments signify a shift towards more precise and efficient diagnostic
practices in the country.
Emphasis on Early Detection
and Preventive Healthcare
There
is a growing emphasis on early detection and preventive healthcare in South
Korea, leading to increased utilization of diagnostic imaging services. The
National Cancer Center of Korea reports that cancer screening rates have risen
to 81.4% for major cancer types, with advanced imaging technology playing a
crucial role in early detection. This proactive approach to healthcare is
driving demand for diagnostic imaging equipment and services.
Government
policies promoting routine health check-ups and screenings further support this
trend. The widespread availability of advanced diagnostic equipment across the
country facilitates patient care and underscores the importance of early
disease detection. These factors contribute to the growth and development of
the diagnostic imaging market in South Korea.
Segmental Insights
Type Insights
Based
on Type, X-ray imaging solutions represent the largest market share. This is
primarily due to their widespread use across a range of healthcare settings,
from major hospitals to local clinics. X-ray machines are considered a
fundamental diagnostic tool because they are relatively affordable, easy to
operate, and versatile in their applications. They are commonly employed in
various medical disciplines such as orthopedics, dentistry, and emergency
medicine. Moreover, the ongoing transition from traditional film-based systems
to digital radiography has significantly improved image quality and reduced
radiation exposure for patients, making X-rays an even more attractive option
for both patients and healthcare providers. The South Korean government has
supported the modernization of medical equipment, encouraging healthcare
facilities to upgrade to digital systems, which further bolsters the adoption
of X-ray technology. Additionally, with the country’s population aging rapidly,
there is a growing demand for diagnostic imaging tools to detect and monitor
age-related conditions, reinforcing the importance of X-ray imaging in routine
and emergency diagnostics.
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Regional Insights
Based
on the Region, the Northern region of South Korea, which includes the Seoul
Capital Area—comprising Seoul, Incheon, and Gyeonggi Province—holds the largest
share of the diagnostic imaging market in the country. This dominance is
largely attributed to the region's concentration of advanced healthcare
infrastructure, world-class hospitals, and a high density of both public and
private medical institutions. Major hospitals such as Seoul National University
Hospital, Asan Medical Center, and Samsung Medical Center are all located in
this region and are equipped with cutting-edge imaging technologies, including
MRI, CT, and nuclear imaging systems. The Northern region is also home to
leading research universities and national medical institutes that consistently
push forward technological innovations in medical diagnostics.
Moreover,
Government support has further bolstered the region’s position as a medical
hub. Policies aimed at modernizing healthcare facilities and encouraging
public-private partnerships have helped ensure that the Northern region
maintains a steady lead in terms of both technology adoption and diagnostic
capabilities. Additionally, the high population density and aging demographic
in this region drive consistent demand for diagnostic imaging services. As a
result, the Northern region serves not only as the most technologically
advanced but also as the most commercially significant zone for diagnostic
imaging in South Korea.
Key Market Players
- FUJIFILM Holdings Corporation
- GE Healthcare Korea Co Ltd
- Koninklijke Philips N.V
- Siemens Healthineers
- Canon Medical Systems Korea
- F. Hoffmann-La Roche AG
- Bio-Rad Laboratories, Inc.
- Abbott Korea Ltd.
- Thermo Fisher Scientific, Inc.
- DR TECH CORP
|
By Type
|
By Mobility
|
By Source
|
By Application
|
By End User
|
By Region
|
- X-Ray
Imaging Solution
- Ultrasound
Systems
- MRI
Systems
- CT
Scanner
- Nuclear
Imaging Solutions
|
|
|
- Cardiology
- Oncology
- Neurology
- Orthopaedics
- Gastroenterology
- Gynaecology
- Others
|
- Hospitals
& Clinics
- Diagnostic
Centers
- Ambulatory
Care Centers
- Others
|
|
Report Scope:
In this report, the South Korea Diagnostic Imaging Market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- South Korea Diagnostic Imaging Market, By Type:
o X-Ray Imaging Solution
o Ultrasound Systems
o MRI Systems
o CT Scanner
o Nuclear Imaging Solutions
- South Korea Diagnostic Imaging Market, By Mobility:
o Portable
o Standalone
- South Korea Diagnostic Imaging Market, By Source:
o Domestic
o Import
- South Korea Diagnostic Imaging Market, By Application:
o Cardiology
o Oncology
o Neurology
o Orthopaedics
o Gastroenterology
o Gynaecology
- South Korea Diagnostic Imaging Market, By End User:
o Hospitals & Clinics
o Diagnostic Centers
o Ambulatory Care Centers
o Others
- South Korea Diagnostic Imaging Market, By
Region:
o Northern
o Southern
o Central
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the South
Korea Diagnostic Imaging Market.
Available Customizations:
South Korea Diagnostic Imaging Market report
with the given market data, TechSci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
South Korea Diagnostic Imaging Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]