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SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET FORECAST 2022-2028

The South Korea contrast enhanced ultrasound market is anticipated to project a 5.88% CAGR by 2028, and is estimated to generate $74.91 million during the forecast period, 2022-2028.

SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET FORECAST 2022-2028

South Korea Contrast Enhanced Ultrasound Market by Product (Equipment, Contrast Agent) Market by Type (Non-targeted, Targeted) Market by End-user (Hospitals, Clinics, Ambulatory Diagnostic Centers)

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The South Korea contrast enhanced ultrasound market is anticipated to project a 5.88% CAGR by 2028, and is estimated to generate $74.91 million during the forecast period, 2022-2028.

Contrast-enhanced ultrasound (CEUS) is a radiation-free imaging technique and is inexpensive compared to other techniques, is suitable for pediatric patients, has informative findings, can be used at the bedside, and has a robust safety profile. Ultrasound has developed into a key and crucial diagnostic technique in South Korea. Healthcare professionals are gaining knowledge, modifying, and adapting to this shifting dynamic. Ultrasound contrast agents are easily accessible to Korean citizens. The lack of standardized guidelines constrains contrast-enhanced ultrasound’s clinical use.

South Korea Contrast Enhanced Ultrasound Market

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However, because ultrasound organizations are working together to create standardized standards for administering and using ultrasound contrast agents, awareness of contrast-enhanced ultrasonography is growing. For instance, in May 2019, the Chinese Taipei Society of Ultrasonography in Medicine, Japanese Society of Ultrasound in Medicine, and Korean Society of Ultrasound in Medicine worked together to develop guidelines for Sonazoid in contrast-enhanced ultrasound. Therefore, such initiatives are expected to provide more clarity about contrast-enhanced ultrasound techniques to sonographers in South Korea, thereby boosting the sales of ultrasound contrast agents nationally.

The South Korea contrast enhanced ultrasound market evaluation entails segmentation by product, end-user, and type. Market by type includes non-targeted and targeted.

Therapeutic agents are either placed onto the contrast agent’s shell or encapsulated in targeted type contrast agents. The contrast agents release the active medicine as it reaches the target site, increasing bioavailability. This phenomenon is being extensively researched globally to determine how it might be used to treat serious diseases, including cancer and cardiovascular disease.

Additionally, several clinical investigations involving the delivery of DNA and nucleic acids using contrast-enhanced ultrasound technology have been completed. To boost its DNA binding affinity, one commercially available ultrasonic contrast agent named Definity has lengthened its chain and added charged radicals to its shell. As a result, the segment is expected to increase due to several potential targeted ultrasound agent progenies in the clinical and preclinical stages.

Furthermore, since non-targeted contrast agents make up for various commercially available products, they held the biggest market share in 2021. They are frequently used to gauge organ perfusion and evaluate the vascularity of a target lesion (liver or kidney). The main factor anticipated to fuel market expansion is the rising prevalence of chronic diseases such as liver cirrhosis, cancer, and cardiovascular problems.

A 2019 National Survey on Drug Consumption and Health (NSDUH) report found that 14.1 million adult Americans have an alcohol use problem. One of the main causes of liver cirrhosis is excessive alcohol usage. The demand for ultrasound contrast imaging services is predicted to increase as the global demographics of alcohol consumption change.

Key players competing in the South Korea contrast enhanced ultrasound market include Taejoon Pharm Co, Daiichi Sankyo Company, and GE Healthcare.

Taejoon Pharm Co Ltd is a South Korean specialty pharmaceutical manufacturing company that offers ophthalmic agents, gastrointestinal products and contrast media. The company has obtained EU-GMP Certification and CE marking, making it easy to penetrate new markets and boost sales. The company heavily invested in modernizing its production facility with the reinforcement of leading skills and installing cutting-edge technology to boost production quality and quantity. The company operates in the United States, Europe, and Asia. The company is headquartered in Seoul, South Korea.

IOBRIX INJ 270 (Iohexol) from Taejoon Pharm is an Iodine contrast media used in contrast enhancement and for gastrointestinal studies, arthrography, sialography, and hysterosalpingography (HSG).

Report Synopsis

Report Scope

Details
Market Forecast Years 2022-2028
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Million)
Segments Analyzed End-User, Product, and Type
Country Analyzed South Korea
Companies Analyzed

GE Healthcare, Daiichi Sankyo Company Limited, Shenzhen Mindray Bio-Medical Electronics Co Ltd, Taejoon Pharm Co Ltd, Trivitron Healthcare Pvt Ltd

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • COUNTRY SNAPSHOT
      • COUNTRY ANALYSIS
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
    3. KEY ANALYTICS
      • IMPACT OF COVID-19 ON CONTRAST ENHANCED ULTRASOUND MARKET
      • KEY MARKET TRENDS
      • PESTLE ANALYSIS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
      • KEY BUYING CRITERIA
        • COST EFFICIENCY
        • PRODUCT FEATURES
        • END-USE
      • REGULATORY FRAMEWORK
    4. MARKET BY PRODUCT
      • EQUIPMENT
      • CONTRAST AGENT
    5. MARKET BY TYPE
      • NON-TARGETED
      • TARGETED
    6. MARKET BY END-USER
      • HOSPITALS
      • CLINICS
      • AMBULATORY DIAGNOSTIC CENTERS
    7. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • DAIICHI SANKYO COMPANY LIMITED
        • GE HEALTHCARE
        • SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD
        • TAEJOON PHARM
        • TRIVITRON HEALTHCARE

    LIST OF TABLES

    TABLE 1: SOUTH KOREA MARKET SNAPSHOT – CONTRAST ENHANCED ULTRASOUND

    TABLE 2: EXAMPLES OF CURRENT CLINICAL ULTRASOUND CONTRAST AGENTS

    TABLE 3: EXAMPLES OF EMERGING ULTRASOUND MICROBUBBLES-BASED TECHNIQUES

    TABLE 4: REGULATORY FRAMEWORK

    TABLE 5: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY PRODUCT, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 7: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 8: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY TYPE, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 9: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 10: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY END-USER, FORECAST YEARS, 2022-2028 (IN $ MILLION)

    TABLE 11: LIST OF MERGERS & ACQUISITIONS

    TABLE 12: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 13: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 14: LIST OF BUSINESS EXPANSIONS & DIVESTITURES   

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PESTLE ANALYSIS

    FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 4: OPPORTUNITY MATRIX

    FIGURE 5: VENDOR LANDSCAPE

    FIGURE 6: VALUE CHAIN ANALYSIS

    FIGURE 7: KEY BUYING CRITERIA

    FIGURE 8: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2021

    FIGURE 9: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY EQUIPMENT, 2022-2028 (IN $ MILLION)

    FIGURE 10: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY CONTRAST AGENT, 2022-2028 (IN $ MILLION)

    FIGURE 11: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, GROWTH POTENTIAL, BY TYPE, IN 2021

    FIGURE 12: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY NON-TARGETED, 2022-2028 (IN $ MILLION)

    FIGURE 13: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY TARGETED, 2022-2028 (IN $ MILLION)

    FIGURE 14: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

    FIGURE 15: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY HOSPITALS, 2022-2028 (IN $ MILLION)

    FIGURE 16: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY CLINICS, 2022-2028 (IN $ MILLION)

    FIGURE 17: SOUTH KOREA CONTRAST ENHANCED ULTRASOUND MARKET, BY AMBULATORY DIAGNOSTIC CENTERS, 2022-2028 (IN $ MILLION)       

    1. MARKET BY PRODUCT
      • EQUIPMENT
      • CONTRAST AGENT
    2. MARKET BY TYPE
      • NON-TARGETED
      • TARGETED
    3. MARKET BY END-USER
      • HOSPITALS
      • CLINICS
      • AMBULATORY DIAGNOSTIC CENTERS

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