South Korea Biochip Market Size & Outlook, 2023-2030
South Korea biochip market, 2018-2030 (US$M)
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South Korea biochip market highlights
- The South Korea biochip market generated a revenue of USD 109.1 million in 2023 and is expected to reach USD 313.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 16.3% from 2024 to 2030.
- In terms of segment, dna chips was the largest revenue generating type in 2023.
- Lab-on-chip is the most lucrative type segment registering the fastest growth during the forecast period.
Biochip market data book summary
| Market revenue in 2023 | USD 109.1 million |
| Market revenue in 2030 | USD 313.3 million |
| Growth rate | 16.3% (CAGR from 2023 to 2030) |
| Largest segment | Dna chips |
| Fastest growing segment | Lab-on-chip |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tissue Arrays, Cell Arrays, DNA Chips, Lab-on-chip, Protein Chips |
| Key market players worldwide | Agilent Technologies Inc, PerkinElmer, Illumina Inc, Bio-Rad Laboratories Inc, Standard BioTools Inc, GE HealthCare Technologies Inc Common Stock, Thermo Fisher Scientific Inc, Qiagen NV, Randox |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.0% of the global biochip market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan biochip 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 603.1 million by 2030.
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Biochip Market Scope
Biochip Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea biochip 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 biochip market will help companies and investors design strategic landscapes.
Dna chips was the largest segment with a revenue share of 38.31% in 2023. Horizon Databook has segmented the South Korea biochip market based on tissue arrays, cell arrays, dna chips, lab-on-chip, protein chips covering the revenue growth of each sub-segment from 2018 to 2030.
Genomic medicine is a rapidly growing industry in South Korea, with much popularity gained by genetic testing, genomic research, and precision medicine. In addition, policymakers are increasingly focusing on DTC genetic tests & services, which is anticipated to favor the entry of emerging companies.
Widespread penetration of genetic testing products in South Korea, especially increased demand for personalized care for cancer and other hereditary diseases. However, few developments have been observed in the QA of private laboratories, and lack of effective training of health professionals & favorable health coverage are collectively expected to hamper the market growth to a certain extent.
South Korea exhibits strong potential for R&D capabilities in pharmaceutical and biopharmaceutical sectors, which is expected to boost the demand for genomics products in research. Cancer research has become a national priority for the Korean government.
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Our clientele includes a mix of biochip market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea biochip market, including forecasts for subscribers. This country databook contains high-level insights into South Korea biochip market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea biochips market size, by type, 2018-2030 (US$M)
South Korea Biochip Market Share, 2023 & 2030 (US$M)
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