South Korea Analytical Instrumentation Market Size & Outlook
South Korea analytical instrumentation market, 2018-2030 (US$M)
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South Korea analytical instrumentation market highlights
- The South Korea analytical instrumentation market generated a revenue of USD 1,020.5 million in 2023 and is expected to reach USD 1,276.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.3% from 2024 to 2030.
- In terms of segment, instruments was the largest revenue generating product in 2023.
- Software is the most lucrative product segment registering the fastest growth during the forecast period.
Analytical instrumentation market data book summary
| Market revenue in 2023 | USD 1,020.5 million |
| Market revenue in 2030 | USD 1,276.8 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Instruments |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Services, Software |
| Key market players worldwide | Thermo Fisher Scientific Inc, Waters Corp, Shimadzu Corp, Danaher Corp, Agilent Technologies Inc, Bruker Corp, PerkinElmer, Mettler-Toledo International Inc, ZEISS Group, Bio-Rad Laboratories Inc, Illumina Inc, Eppendorf, Roche Holding AG, Sartorius AG, Avantor Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.9% of the global analytical instrumentation market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China analytical instrumentation 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 4,724.7 million by 2030.
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Analytical Instrumentation Market Scope
Analytical Instrumentation Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea analytical instrumentation 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 analytical instrumentation market will help companies and investors design strategic landscapes.
Instruments was the largest segment with a revenue share of 54.84% in 2023. Horizon Databook has segmented the South Korea analytical instrumentation market based on instruments, services, software covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing R&D investments by major pharmaceutical companies in South Korea are anticipated to create a lucrative environment for market growth. For instance, in June 2019, AstraZeneca announced that it would spend USD 630 million on R&D in South Korea over the next 5 years. Moreover, local presence of key players and increasing entry of emerging players into the country are leading to an increase in the country’s access to cost-effective flow cytometry products.
For instance, in May 2019, NanoCellect Biomedical, Inc., a manufacturer of flow cytometry and cell sorting technology solutions, selected Seoul-based DAON BioSciences as its exclusive distributor in South Korean market. Such trends are expected to boost the local market in the coming years.
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Target buyers of South Korea analytical instrumentation market databook
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Our clientele includes a mix of analytical instrumentation 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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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea analytical instrumentation market , including forecasts for subscribers. This country databook contains high-level insights into South Korea analytical instrumentation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea analytical instrumentation market outlook size, by product, 2018-2030 (US$M)
South Korea Analytical Instrumentation Market Outlook Share, 2023 & 2030 (US$M)
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