South Korea Diagnostic Imaging Market is
anticipated to witness a robust growth with an impressive CAGR in the forecast
period 2024-2028. 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.
The interpretation of medical images by radiologists is aided
by AI-based CAD solutions. With the use of these tools, radiologists can
concentrate their attention on particular sections of an image by having
probable areas of concern or abnormalities automatically emphasised. Machine
learning algorithms can help CAD systems continuously learn from novel
circumstances and improve their performance over time.
Additionally, the expansion of the South Korea Diagnostic
Imaging Market is being influenced by the rise in chronic diseases. Lunit Inc.
recently collaborated with military hospitals and the largest healthcare
network in the UAE, to provide AI-based X-ray and mammography analytical
techniques to over 1000 institutions.
For patients to have better outcomes, early detection of
disease and diagnosis are essential. Early diagnosis of diseases enables
immediate treatment interventions, improving prognoses and increasing the
likelihood of an effective course of therapy. The demand for diagnostic imaging
services rises as a result of people becoming more aware of this benefit and
seeking out routine check-ups and screenings.
However, the future expansion of the South
Korea diagnostic imaging market is being hampered by the lack of qualified
experts (radiologists) to operate diagnostic imaging technologies and the high
cost of these diagnostic imaging devices.
Technological
Advancements
New
businesses are producing diagnostic imaging equipment by combining AI and
machine learning into the manufacturing process. Recently, Guardant Health and
a South Korea medical software startup company, Lunit merged to improve
biomarker detection. To improve the precision of biomarker discovery, Guardant
Health has incorporated Lunit SCOPE PD-L1, an AI-based PD-L1 score algorithm,
into the Guardant360 TissueNextTM PD-L1 test for non-small cell lung cancer
(NSCLC). The introduction of new diagnostic imaging technologies will likely
have an impact on the growth of the South Korea diagnostic imaging market. A
premium full field digital mammography system called AIDIA was introduced at
the Korea International Medical & Hospital Equipment Show (KIMES) in 2021.
This product is for general radiography and mammography imaging. The rising
product launch in South Korea is also supporting the market expansion.
Increasing
Prevalence of Chronic Diseases
Due to a sharp rise in chronic diseases’ frequency over the
past several years, it now makes up six of the top 10 causes of death in South
Korea, which has resulted in chronic sickness treatment gaining popularity in
South Korea. The government continues to carry out a number of pilot programmes
based on "Act on the Prevention and Management of Cardiovascular
Diseases" in order to manage and prevent chronic diseases.
Various chronic diseases are becoming common today and its
prevalence is growing rapidly, between the ages of 40 and 70. The prevalence of
chronic diseases is rising as the population ages. Comorbidity, or the presence
of multiple chronic illnesses in one patient, is also on the rise. Regardless
of the type of disease, a patient is said to have multiple chronic diseases
(MCD) if they are managing two or more chronic ailments at once. Comorbidity,
however, differs from a number of chronic conditions. As the population ages,
chronic degenerative diseases are more prevalent in South Korea. By 2050, there
will be 38% more aged people than there were in 2014. Due to the lack of financial
incentives for preventive therapy, the majority of healthcare practitioners
treat patients using curative rather than preventative methods. Patients must
be evaluated at diagnostic laboratories using diagnostic imaging equipment
before starting therapy, which will drive the market growth for diagnostic
imaging in South Korea over the course of the anticipated years.
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Market
Segmentation
South Korea Diagnostic Imaging Market can be segmented by type,
by mobility, by source, by application, by end user and by region. Based on type,
the market can be divided into X-Ray Imaging Solutions, Ultrasound Systems, MRI
Systems, CT Scanners, and Nuclear Imaging Solutions. Based on mobility, the
market is divided into Portable and Standalone. Based on source, the market is
divided into Domestic and Import. Based on application, the market is divided
into Cardiology, Oncology, Neurology, Orthopaedics, Gastroenterology,
Gynaecology and Others. Based on end user, the market is divided into Hospitals
& Clinics, Diagnostic Centers, Ambulatory Care Centers, and Others.
Market Players
FUJIFILM Holdings Corp, 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., Fisher
Scientific Korea Ltd., DR TECH CORP are some of the leading players operating
in the South Korea Diagnostic Imaging Market.
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Attribute
|
Details
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Base
Year
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2022
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Historic
Data
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2018 – 2021
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|
Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue
in USD Million, and CAGR for 2018-2022 and 2023-2028
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|
Report
coverage
|
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments
covered
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By Type
By Mobility
By
Source
By Application
By End
User
By
Region
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|
Regional
scope
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North; South;
Central
|
|
Key
companies profiled
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FUJIFILM
Holdings Corp, 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.,
Fisher Scientific Korea Ltd., DR TECH CORP
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|
Customization
scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report Scope:
In this report, South Korea Diagnostic Imaging Market has been segmented into 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
Solutions
o
Ultrasound Systems
o
MRI Systems
o
CT Scanners
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
o
Others
· South Korea Diagnostic Imaging Market, By End User:
o Hospitals & Clinics
o Diagnostic Centers
o Ambulatory Care Centers
o Others
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in South Korea Diagnostic Imaging Market.
Available Customizations:
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]