South Korea Bioanalytical Testing Services Market Size & Outlook
South Korea bioanalytical testing services market, 2018-2030 (US$M)
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South Korea bioanalytical testing services market highlights
- The South Korea bioanalytical testing services market generated a revenue of USD 76.5 million in 2023 and is expected to reach USD 146.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.7% from 2024 to 2030.
- In terms of segment, small molecule was the largest revenue generating molecule in 2023.
- Large Molecule is the most lucrative molecule segment registering the fastest growth during the forecast period.
Bioanalytical testing services market data book summary
| Market revenue in 2023 | USD 76.5 million |
| Market revenue in 2030 | USD 146.0 million |
| Growth rate | 9.7% (CAGR from 2023 to 2030) |
| Largest segment | Small molecule |
| Fastest growing segment | Large Molecule |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Small Molecule, Large Molecule |
| Key market players worldwide | Thermo Fisher Scientific Inc, Icon PLC, Charles River Laboratories International Inc, Labcorp Holdings Inc, IQVIA Holdings Inc, Syneos Health, SGS AG, Intertek Group PLC, Pace Analytical Services |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.8% of the global bioanalytical testing services market in 2023.
- Country-wise, Kuwait is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China bioanalytical testing services market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 132.4 million by 2030.
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Bioanalytical Testing Services Market Scope
Bioanalytical Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea bioanalytical testing services 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 bioanalytical testing services market will help companies and investors design strategic landscapes.
Small molecule was the largest segment with a revenue share of 59.48% in 2023. Horizon Databook has segmented the South Korea bioanalytical testing services market based on small molecule, large molecule covering the revenue growth of each sub-segment from 2018 to 2030.
Supportive government reforms and the presence of a large number of bioanalytical service providers are anticipated to drive growth. South Korea is a prominent destination for clinical trials in Asia, with its superior medical infrastructure and a highly educated, relatively healthy & wealthy population.
In addition, the increasing government support has led to increased opportunities for drug development companies. The Korean Ministry of Food and Drug Safety earlier known as the Korean FDA is the main regulatory body for medical devices, drugs, food, and cosmetic products.
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Target buyers of South Korea bioanalytical testing services market databook
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Our clientele includes a mix of bioanalytical testing services 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 bioanalytical testing services market , including forecasts for subscribers. This country databook contains high-level insights into South Korea bioanalytical testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea bioanalytical testing services market size, by molecule, 2018-2030 (US$M)
South Korea Bioanalytical Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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