The glucose testing market in South Korea is rise in awareness toward various health conditions and government initiatives for the prevention of diabetes.
In addition, increase in prevalence of diabetes and other metabolic disorders is major factor driving the growth of the point-of-care (POC) glucose testing market in South Korea. For instance, according to a survey conducted by the Korea Centers for Disease Control and Prevention (KCDC) in 2016, the prevalence of diabetes among adults aged 20 years and above in the country was estimated to be 11.3%, and it is expected to increase in the coming years. This rise in the prevalence of diabetes is expected to boost the demand for POC glucose testing, thus driving the market growth. In addition, rise in demand for rapid & accurate diagnosis of diabetes for better & efficient management of the disease is a factor driving the market growth. Moreover, increase in availability of technologically advanced devices for POC glucose testing and the availability of better reimbursement policies for diabetes management is propelling the market growth in the country. However, lack of awareness regarding the benefits of point-of-care glucose testing, lack of technological advancements, and higher cost of the products are some of the key factors hindering the growth of the market.
On the other hand, the point-of-care glucose testing market in South Korea is expected to experience steady growth in the coming years. This is attributed to increase in emphasis on providing effective healthcare measures to combat diabetes. In addition, the South Korea Government initiatives for diabetes management are anticipated to fuel the growth of the market. Furthermore, the advent of technologically advanced products in the point-of-care glucose testing market is expected to create significant growth opportunities for the market in the near future.
Moreover, several companies in South Korea are focusing on introducing technologically advanced products to cater to growing needs of consumers. This includes innovative products such as the Accu-Check, glucometer from Roche Diagnostics, a leading provider of medical devices, and the Nova Biomedical Blood Glucose Meter, which is an advanced device combining both accuracy & ease of use. The introduction of such advanced products is expected to result in increased market penetration, thus driving the growth of the market.
Companies operating in the South Korea point-of-care glucose testing market have adopted strategies such as new product launches, R&D activities, collaborations & partnerships, and business expansions. For instance, in 2017, Johnson & Johnson launched its OneTouch Select Plus Glucose Meter in South Korea after its successful launch in Japan. In addition, in 2018, Siemens Healthineers launched a cloud-based platform for managing diabetes, which enables doctors and patients to share clinical data with ease.
The major players operating in the market include Abbott, Johnson & Johnson, Roche Diagnostics, Siemens Healthineers, Baxter, Alere, Medtronic, Nova Biomedical, Samsung Medical Devices, and Acon Laboratories. Furthermore, Acon Laboratories, a leading provider of medical testing products, has been actively expanding its product portfolio in the country. In 2018, the company launched Acon OneTouch , an advanced blood glucose meter, and Acon OneTouch Scanâ, a point-of-care glucose testing strip. In addition, Samsung Medical Devices has been investing heavily in product & technology innovations to cater to the growing needs of consumers in South Korea. In terms of emerging players, five new companies have made their presence felt in the market in the last four years. These companies have developed advanced products for the point-of-care glucose testing market in South Korea.
South Korea Point-of-Care Glucose Testing Market, by Product Type Report Highlights
| Aspects | Details |
 Forecast period | 2022 - 2032 |
 Report Pages | 73 |
 By Product Type |
|
 By Application |
|
 By End User |
|
 Key Market Players | Samsung Medical Devices, Roche Diagnostics, Alere, Medtronic, Baxter, Johnson & Johnson, Siemens Healthineers, Acon Laboratories, Abbott, Nova Biomedical |
The South Korea Point-of-Care Glucose Testing Market is projected to grow at a CAGR of 4.2% from 2022 to 2032
Abbott, Johnson & Johnson, Roche Diagnostics, Siemens Healthineers, Baxter, Alere, Medtronic, Nova Biomedical, Samsung Medical Devices, Acon Laboratories are the leading players in South Korea Point-of-Care Glucose Testing Market
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
2. Analyze the key strategies adopted by major market players in south korea point-of-care glucose testing market.
3. Assess and rank the top factors that are expected to affect the growth of south korea point-of-care glucose testing market.
4. Top Player positioning provides a clear understanding of the present position of market players.
5. Detailed analysis of the south korea point-of-care glucose testing market segmentation assists to determine the prevailing market opportunities.
6. Identify key investment pockets for various offerings in the market.
South Korea Point-of-Care Glucose Testing Market is classified as by product type, by application, by end user
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