South Korea Diagnostic Imaging Market By Type (X-Ray Imaging Solutions, Ultrasound Systems, MRI Systems, CT Scanners, Nuclear Imaging Solutions), By Mobility (Portable v/s Standalone), By Source (Domestic v/s Import), By Application (Cardiology, Oncology, Neurology, Orthopaedics, Gastroenterology, Gynaecology, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Ambulatory Care Centers, Others) Region, Competition, Forecast & Opportunities, 2018-2028F

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.

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).

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