South Korea Active Pharmaceutical Ingredients Market Size & Outlook
South Korea active pharmaceutical ingredients market, 2018-2030 (US$M)
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South Korea active pharmaceutical ingredients market highlights
- The South Korea active pharmaceutical ingredients market generated a revenue of USD 9,837.1 million in 2023 and is expected to reach USD 15,631.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.8% from 2024 to 2030.
- In terms of segment, synthetic was the largest revenue generating type of synthesis in 2023.
- Biotech is the most lucrative type of synthesis segment registering the fastest growth during the forecast period.
Active pharmaceutical ingredients market data book summary
| Market revenue in 2023 | USD 9,837.1 million |
| Market revenue in 2030 | USD 15,631.0 million |
| Growth rate | 6.8% (CAGR from 2023 to 2030) |
| Largest segment | Synthetic |
| Fastest growing segment | Biotech |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Synthetic, Biotech |
| Key market players worldwide | Dr. Reddy’s Laboratories, Sun Pharmaceutical Industries, Teva Pharmaceutical Industries Ltd, Cipla Ltd DR, AbbVie Inc, Aurobindo Pharma, Sandoz Group AG Registered Shares, Viatris Inc, Fresenius Kabi |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.1% of the global active pharmaceutical ingredients 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 ingredients market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 30,904.4 million by 2030.
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Active Pharmaceutical Ingredients Market Scope
Active Pharmaceutical Ingredients Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea active pharmaceutical ingredients 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 ingredients market will help companies and investors design strategic landscapes.
Synthetic was the largest segment with a revenue share of 69.68% in 2023. Horizon Databook has segmented the South Korea active pharmaceutical ingredients market based on synthetic, biotech covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean pharmaceutical industry is technologically advanced, and consumers spend significantly on healthcare. The country is also a key supplier of APIs to neighboring countries, including Japan. After India and China, the largest manufacturer of APIs is South Korea, followed by Taiwan. South Korea is the third-largest exporter of API.
In February 2021, Korean Pharmaceutical and Bio-Pharma Manufacturers Association announced that the country is aiming toward self sufficiency in the API sector and developing 200 molecules to ensure growth and supply of raw materials to over 2,000 drug manufacturers in the region.
However, key market players operating in the country are focusing on developing pharmaceuticals manufacturing industry. In November 2022, Helixmith received local license for accelerating the development of cell gene therapies in CDMOs. In July 2022, Samsung Biologics invested USD 323 million for buying land in South Korea to establish a manufacturing facility.
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Our clientele includes a mix of active pharmaceutical ingredients market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea active pharmaceutical ingredients market , including forecasts for subscribers. This country databook contains high-level insights into South Korea active pharmaceutical ingredients market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea active pharmaceutical ingredients market size, by type of synthesis, 2018-2030 (US$M)
South Korea Active Pharmaceutical Ingredients Market Outlook Share, 2023 & 2030 (US$M)
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