South Korea Biologics Contract Development Market Size & Outlook
South Korea biologics contract development market, 2018-2030 (US$M)
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South Korea biologics contract development market highlights
- The South Korea biologics contract development market generated a revenue of USD 186.2 million in 2023 and is expected to reach USD 391.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 11.2% from 2024 to 2030.
- In terms of segment, mammalian source was the largest revenue generating source in 2023.
- Mammalian Source is the most lucrative source segment registering the fastest growth during the forecast period.
Biologics contract development market data book summary
| Market revenue in 2023 | USD 186.2 million |
| Market revenue in 2030 | USD 391.7 million |
| Growth rate | 11.2% (CAGR from 2023 to 2030) |
| Largest segment | Mammalian source |
| Fastest growing segment | Mammalian Source |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Microbial Source, Mammalian Source, Other Source |
| Key market players worldwide | WuXi Biologics (Cayman) Inc, FUJIFILM Holdings Corp, AGC Biologics, Thermo Fisher Scientific Inc, Curia, Genscript Biotech Corp Class H, Boehringer Ingelheim Pharma, Abzena, JSR Corp, Bionova Scientific |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.3% of the global biologics contract development market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biologics contract development 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 811.1 million by 2030.
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Biologics Contract Development Market Scope
Biologics Contract Development Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea biologics contract development 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 biologics contract development market will help companies and investors design strategic landscapes.
Mammalian source was the largest segment with a revenue share of 55.91% in 2023. Horizon Databook has segmented the South Korea biologics contract development market based on microbial source, mammalian source, other source covering the revenue growth of each sub-segment from 2018 to 2030.
In September 2019, the South Korean government announced a comprehensive 5-year plan for advancement of clinical trials aimed at establishing the country as a leading research and clinical trial destination in the region as well as globally. The growth of clinical activity of biotechnology companies in South Korea was reported to be around +10% each year for oncology trials.
Approximately 44.5 % of clinical trials in South Korea were multinational as of 2017. The Korean government has also offered a variety of incentives to support the country’s biotechnology and clinical trial industries, thereby attracting many CDMOs. Clinical trials must be conducted in accordance with Korean Good Clinical Practice and should be in line with the ICH guidelines.
The country offers high quality, western style scientific and clinical infrastructure. The progressive regulatory stance, English proficiency, population density, high quality of trial sites, and culture of clinical adherence are providing a boost to the market.
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Our clientele includes a mix of biologics contract development 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 biologics contract development market, including forecasts for subscribers. This country databook contains high-level insights into South Korea biologics contract development market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea biologics contract development market size, by source, 2018-2030 (US$M)
South Korea Biologics Contract Development Market Share, 2023 & 2030 (US$M)
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