South Korea Active Pharmaceutical Ingredient Cdmo Market Size & Outlook
South Korea active pharmaceutical ingredient cdmo market, 2018-2030 (US$M)
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South Korea active pharmaceutical ingredient cdmo market highlights
- The South Korea active pharmaceutical ingredient cdmo market generated a revenue of USD 2,844.9 million in 2023 and is expected to reach USD 4,751.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.6% from 2024 to 2030.
- In terms of segment, traditional active pharmaceutical ingredient (traditional api) was the largest revenue generating product in 2023.
- Antibody Drug Conjugate (ADC is the most lucrative product segment registering the fastest growth during the forecast period.
Active pharmaceutical ingredient cdmo market data book summary
| Market revenue in 2023 | USD 2,844.9 million |
| Market revenue in 2030 | USD 4,751.4 million |
| Growth rate | 7.6% (CAGR from 2023 to 2030) |
| Largest segment | Traditional active pharmaceutical ingredient (traditional api) |
| Fastest growing segment | Antibody Drug Conjugate (ADC |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Traditional Active Pharmaceutical Ingredient (Traditional API), Highly Potent Active Pharmaceutical Ingredient (HP-API), Antibody Drug Conjugate (ADC |
| Key market players worldwide | Recipharm, Thermo Fisher Scientific Inc, Samsung BioLogics, Lonza Group Ltd, Catalent Inc, Siegfried Holding AG, Piramal Pharma Solutions, Boehringer Ingelheim, Cambrex, CordenPharma |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.4% of the global active pharmaceutical ingredient cdmo market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China active pharmaceutical ingredient cdmo market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 25,242.1 million by 2030.
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Active Pharmaceutical Ingredient CDMO Market Scope
Active Pharmaceutical Ingredient CDMO Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea active pharmaceutical ingredient cdmo market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to active pharmaceutical ingredient cdmo market will help companies and investors design strategic landscapes.
Traditional active pharmaceutical ingredient (traditional api) was the largest segment with a revenue share of 39.42% in 2023. Horizon Databook has segmented the South Korea active pharmaceutical ingredient cdmo market based on traditional active pharmaceutical ingredient (traditional api), highly potent active pharmaceutical ingredient (hp-api), antibody drug conjugate (adc covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea accounted for 5.4% of Asia Pacific’s market in 2020. There are nearly 80 contract service providers in South Korea. Of these, nearly 50% offer API chemical manufacturing, while the rest offer commercial solid dose manufacturing and commercial dose injectable manufacturing services.
Supportive government reforms are anticipated to propel the market over the forecast period. For instance, in 2020, the South Korean President announced an investment of nearly USD 1.7 billion in promoting biotechnology & biopharmaceutical industry and encouraging biopharmaceutical R&D & manufacturing.
The President mentioned an increase in tax credits for facility and R&D investments, thereby presenting economic benefits for investors and facilitating market growth. Such initiatives are expected to create lucrative growth opportunities in the market over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea active pharmaceutical ingredient cdmo market , including forecasts for subscribers. This country databook contains high-level insights into South Korea active pharmaceutical ingredient cdmo market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea active pharmaceutical ingredient cdmo market size, by product, 2018-2030 (US$M)
South Korea Active Pharmaceutical Ingredient CDMO Market Outlook Share, 2023 & 2030 (US$M)
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