South Korea Mycobacterium diagnostic tests market set to grow at 3% CAGR during 2024-2034, forecasts GlobalData

New Delhi: The rising burden of tuberculosis (TB) cases and advancements in molecular diagnostics are driving the growth of the South Korea Mycobacterium diagnostic tests market.

Against this backdrop, the country’s Mycobacterium diagnostic tests market is projected to grow at a compound annual growth rate (CAGR) of 3% between 2024 and 2034, forecasts GlobalData, a leading data, and analytics company.

GlobalData’s report, “Mycobacterium Tuberculosis Tests Market Size by Segments, Share, Regulatory, Reimbursement and Forecast to 2033,” reveals that South Korea Mycobacterium tuberculosis tests market accounts for around 8% of the Asia-Pacific market in 2024.

Jyoti Sharma, Medical Devices Analyst at GlobalData, comments: “The traditional TB diagnostics often fail to provide rapid results, leading to delays in treatment. Technological advancements in molecular diagnostics that enable faster and more precise detection of resistant TB strains are crucial to curb the spread of XDR-TB and improve patient outcomes.”

South Korea-based global in-vitro diagnostics company SD Biosensor, Inc. has recently signed a tripartite memorandum of understanding (MoU) with Japan’s Research Institute of Tuberculosis under the Japan Anti-Tuberculosis Association (RIT/JATA) and South Korea’s International Tuberculosis Research Centre. This collaboration focuses on developing advanced molecular diagnostic solutions to tackle extensively drug-resistant tuberculosis (XDR-TB), reflecting the country’s proactive stance in addressing TB challenges.

Sharma concludes: “Such innovations and collaborations are critical in addressing the challenges posed by drug-resistant TB. By strengthening both domestic and international healthcare systems, South Korea is playing a key role in the global fight against tuberculosis.”