South Korea Microfluidics Market Research Report, 2029

South Korea has been at the forefront of the development of cutting-edge microfluidic market. This includes the most advanced lab-on-a-chip devices that integrate multiple functions normally done within a laboratory onto a single chip, thereby making them existent for rapid and accurate biochemical analyses. South Korean companies and research institutions are pioneers in the creation of microfluidic platforms in point-of-care diagnostics, drug delivery systems, and organ-on-a-chip models. For instance, KAIST (Korea Advanced Institute of Science and Technology) researchers have been developing complex microfluidic systems for cancer diagnostics and personalized medicine, citing the country's capability in high-tech health care solutioning. The South Korean government has played a very important role in developing the microfluidics market. The initiatives taken and opened funding programs paved the way for research and development in this area. The Ministry of Trade, Industry, and Energy and the Ministry of Science and ICT have huge funding for projects focused on biomedical and microfluidic technologies. On its part, the Korea Health Industry Development Institute facilitates commercialization support in the form of innovative medical technologies, including microfluidics, through grants and business development programs. Industry–academia collaboration is one of the most important driving forces for the development of new technologies in South Korea's microfluidics market. Numerous universities work together with biotech firms to commercialize research findings into practical applications. These collaborations have come up with state-of-the-art microfluidic devices geared toward clinical diagnostics and environmental monitoring. The synergies vigorged by academic research and industrial know-how help speed up the commercialization of new technologies and increase the competitive levels from the market. The demand for microfluidic technologies in South Korea is highly influenced by the need for rapid, accurate, cost-effective diagnostic solutions. The healthcare sector, for example, has recorded remarkable adoption of microfluidic devices for use in point-of-care testing, which is central to infectious and chronic disease management. Biotechnology protocols also lend themselves to the advantages that microfluidic advancements bring in the process of drug development and genomics research. Furthermore, environmental monitoring applications are on the rise, with microfluidic sensors used for pollutant detection and analysis of water quality. According to the research report "South Korea Microfluidics Market Research Report, 2029," published by Actual Market Research, the South Korea Microfluidics market was valued at more than USD 720 Million in 2023. Growing at a fast pace, the South Korean microfluidics market faces development cost-related problems and a lack of standardization. Overcoming these barriers will take further investment in research, infrastructure, and the formation of industry standards. However, the market also provides tremendous opportunities, especially considering personalized medicine and digital health. South Korea is becoming truly one of the global leaders in microfluidics technology with the continuous development, commitment of resources to the field, and further research in the country. Conferences and symposia held in South Korea focused on microfluidics or having modules earnestly related to this technology represent another important asset of the country. Events such as the International Conference on Miniaturized Systems for Chemistry and Life Sciences (MicroTAS) and the Asia-Pacific Conference on Lab-on-a-Chip and Microfluidics provide an excellent opportunity for the research community and industrial expertise to present their latest findings and the possibility of mutual collaboration. Also, on a country level, "Bioeconomy 2025" policies aim to reinforce the biotech sector, within which microfluidics is set, with actions that provide a strategic framework for research funding, innovation encouragement, and market growth. In this very lively startup scene in South Korea, a few companies focus on microfluidics; very often they are spun off from university research projects and then further incubated and accelerated. This would include companies such as Genoplan, which develops microfluidic devices for genetic testing. South Korean firms are more and more selling microfluidic products to overseas markets. It is such high quality and innovativeness of the products that make them competitive at a global level; demand remains strong from key markets seeking more advanced diagnostic and analytical tools. One of the main reasons for the limited diffusion of microfluidic devices could be the lack of standardization in the design and manufacture of these devices. Indeed, efforts from actors in this industry are underway to set common standards and protocols so that devices can be compatible and reliable between applications and sectors.

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The South Korea microfluidics market has been mainly segmented by product type into two notable categories are Microfluidic-based Devices and Microfluidic Components. Microfluidic-based devices find applications in point-of-care testing, molecular biology, and chemical and biochemical analysis. These devices have many advantages but are most importantly portable, with a raised frequency of testing, while consuming micro reagents and samples to offer fast and accurate analysis. The microfluidics cartridge-based real-time PCR device Revogene, which tests for C. diff, Strep B, and Streptococcus A, returns results in approximately 2 minutes. Microfluidic components have numerous applications in point-of-care diagnostics, pharmaceutical and biotechnology research, and in vitro diagnostics. The developing use of proteomics and genomics technologies in diagnostic procedures, faster detection of viral load and antigens at diagnostic laboratories, ease and early identification of large volume tests, and early-stage detection of a number of viral diseases are all driving the growth of the microfluidic market in hospitals and diagnostic laboratories. One of the main applications of microfluidics technology is usually integrated into point-of-care testing devices that incorporate this silver bullet. Quickly, microfluidic technology allows detection and fluid regulation in just one single component. The sensitivity and specificity are increased in detecting the target analytes at small volumes and hence can be able to surmount the challenges that come with the use of traditional POCT diagnostics. The South Korean microfluidics market utilizes numerous materials in the fabrication of microfluidic devices and components. Some of the common materials used in South Korea include polymer, glass, silicon, and other materials like paper, ceramics, hydrogels, and metals. On account of its low cost, ease of fabrication, and biocompatibility, polymer is used in South Korea as one of the most applied materials for microfluidic devices. For example, in South Korea, Carver Korea Co., Ltd. introduced the Microfluidic Chip Electrophoresis systems, in which the polymer-based microchannels are used to analyze the biomolecule, while NanoEntek Inc.'s WES™ system adopted a polymer-based microfluidic chip for the analysis of single cells._. Glass is a very popular device material in microfluidic devices used in South Korea, mainly because of the. A common material used in microfluidic devices in South Korea is glass, which is applied due to demanding optical transparency, chemical resistance, and thermal stability. Some examples of glass microfluidic devices from South Korea include Micronit Microfluidics B.V.'s Glass Microfluidic Chips, applied in various ways, and the glass Mitos Chips from Dolomite Microfluidics for droplet generation and encapsulation. In South Korea, silicon is also used to a great extent in making microfluidic devices because of high precision and compatibility with semiconductor fabrication processes. Examples of microfluidic devices made of silicon in South Korea include the microfluidic reactors from LG Chem Ltd., which use silicon-based microchannels for the synthesis of chemical materials, and Samsung Electronics Co., Ltd., which applies silicon-based microchannels in its microfluidic devices for semiconductor analysis when analyzing semiconductor materials. Other materials used in South Korea for making microfluidics include paper, ceramics, hydrogels, and metals. Examples of microfluidic devices from South Korea utilizing these other materials are provided by MicruX Technologies, which develops screen-printed electrodes that make use of ceramic-based microfluidic channels to detect the biomolecule counterpart molecules, and POSTECH, whose hydrogel-based microfluidic devices facilitate hydrogel-based microfluidic channels for cell and tissue culture. The South Korean microfluidics market is growing by leaps and bounds with its application across various industries. Among the major applications of microfluidics in South Korea, one is point-of-care diagnostics. Microfluidic-based devices offer several advantages for PoC diagnostics—very small volumes of sample, high throughput, and rapid results. Examples of microfluidic-based point-of-care diagnostic devices in South Korea can be represented by the Allplex™ test from Seegene Inc. for infectious diseases and the STANDARD™ Q COVID-19 Ag test from SD Biosensor Inc. for SARS-CoV-2 antigens. An important application of microfluidics in South Korea pertains to drug delivery systems. This microfluidic-based delivery system has several advantages that include controlled release of a drug, targeted drug delivery within organs, and reducing the side effects caused by the concerned drugs. Some examples of microfluidic-based drug delivery systems in South Korea include the Hybrid-Ad VLP platform from Genexine Inc. for DNA vaccine delivery and Botulax from Hugel Inc. for therapeutic facial wrinkle treatment. Microfluidics have applications in pharmaceutical and biotechnology research in South Korea. In this regard, microfluidic-based devices act as handy tools in research applications with applications such as high throughput, low sample volumes, and control over reaction conditions. Examples of programmable microfluidic-based research tools within South Korea include the offering from Carver Korea Co., Ltd. called the Microfluidic Chip Electrophoresis systems for the analysis of the biomolecule, and the one offering from NanoEntek Inc., known as the WES™ system for the assessment of single cells. A key application of microfluidics in South Korea corresponds to in vitro diagnostics. Microfluidic in vitro diagnostic devices offer high sensitivity, specificity, and rapidity. Some examples of microfluidic-based in vitro diagnostic devices from South Korea include Allplex™ tests for the detection of genetic mutations by Seegene Inc., and the i-dens™ system by Bio-Health care Inc. for measuring blood glucose levels. The other applications of microfluidics in South Korea are environmental testing and industrial applications. Examples of microfluidic-based environmental testing devices include devices for monitoring the quality of water by Eco-Tech Co., Ltd., and the WES™ system by NanoEntek Inc. for detecting airborne particles. Some examples of the industrial applications, based on microfluidics in South Korea, can be enumerated as the microfluidic reactors for the synthesis of chemical materials by LG Chem Ltd. and microfluidic devices for the analysis of semiconductor materials by Samsung Electronics Co., Ltd.

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Kripa Shah

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The South Korea microfluidics market has been divided into four major categories on the basis of end-users: hospitals and diagnostic centers, pharmaceutical and biotechnology companies, academic and research institutes, and others. Each of the end users in this category has its own needs and applications that are fuelling the growth of the microfluidics market in South Korea Hospitals and diagnostic centers represent the biggest end-user segment for microfluidics in South Korea. It finds applications in point-of-care settings for the testing, diagnosis, and monitoring of various diseases. For example, Seoul National University Hospital has implemented, in support of rapid diagnosis for sepsis—a life-threatening condition requiring prompt treatment—a microfluidic-based system that reduced diagnostic time from several hours to minutes, hence enabling timely treatment with improved patient outcomes. The next big end-users of microfluidics in South Korea are the pharmaceutical and biotechnological industries. Microfluidics finds applications in these industries in relation to drug discovery, development, and testing. For example, Celltrion, a Korean biotech firm, has applied microfluidics in the development of new therapeutic antibodies against cancer and autoimmune diseases. A major end-user category of microfluidics in South Korea is academic and research institutes. A potential application of microfluidics in such settings includes basic research, proof-of-concept studies, and developing new microfluidic devices and systems. For example, at KAIST, there has been the development of a microfluidics-based platform for studies on cancer cell behaviors and drug responses. An example is a microfluidic-based platform developed at the Seoul National University's College of Engineering for studying cardiovascular disease. Using this system, researchers can easily study the behavior of the blood cells and vessels under controlled conditions to acknowledge the hidden mechanisms behind cardiovascular diseases. Other end-users for microfluidics in South Korea include contract research organizations, industrial users, and government agencies. CROs, just like this Korean company, Korea Contract Research Organization (KCRO), apply microfluidics in order to render contract research services for pharmaceutical and biotech companies. Another set of end-users is that of economic or industrial users, such as the Korean LG Chem, trying to develop new industry processors with the help of microfluidic technology. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Microfluids market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Product Type • Microfluidic-based Devices • Microfluidic Components (Microfluidic Chips, Micro Pumps, Microneedles and other Mocrofluids Components Type) By Material • Polymer • Glass • Silicon • Other Materials (Paper-based microfluidics, Ceramic-based microfluidics, Hydrogels, Metal-based microfluidics) By Application • Point-of-care diagnostics • Drug delivery systems • Pharmaceutical and biotechnology research • In vitro diagnostics • Others (e.g., environmental testing, industrial applications) By End User • Hospitals and diagnostic centers • Pharmaceutical and biotechnology companies • Academic and research institutes • Others (e.g., contract research organizations, industrial users) The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Microfluids industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.