South Korea Biomaterials Market Size & Outlook, 2023-2030
South Korea biomaterials market, 2018-2030 (US$M)
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South Korea biomaterials market highlights
- The South Korea biomaterials market generated a revenue of USD 4,066.5 million in 2023 and is expected to reach USD 13,292.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 18.4% from 2024 to 2030.
- In terms of segment, metallic was the largest revenue generating product in 2023.
- Natural is the most lucrative product segment registering the fastest growth during the forecast period.
Biomaterials market data book summary
| Market revenue in 2023 | USD 4,066.5 million |
| Market revenue in 2030 | USD 13,292.6 million |
| Growth rate | 18.4% (CAGR from 2023 to 2030) |
| Largest segment | Metallic |
| Fastest growing segment | Natural |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polymers, Natural, Ceramics, Metallic |
| Key market players worldwide | Medtronic PLC, Evonik Industries AG, Carpenter Technology Corp, GNI Group Ltd, Invibio, Zimmer Biomet Holdings Inc, Basf SE, Covalon Technologies Ltd, Stryker Corp, Johnson & Johnson, Dentsply Sirona Inc, Corbion NV, CoorsTek |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.3% of the global biomaterials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan biomaterials 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 28,927.8 million by 2030.
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Biomaterials Market Scope
Biomaterials Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea biomaterials 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 biomaterials market will help companies and investors design strategic landscapes.
Metallic was the largest segment with a revenue share of 39.46% in 2023. Horizon Databook has segmented the South Korea biomaterials market based on polymers, natural, ceramics, metallic covering the revenue growth of each sub-segment from 2018 to 2030.
In South Korea, the government has been actively promoting the development of the biomaterial industry, investing in research & development, and creating favorable policies to support the growth of the biomaterials sector.
For instance, in 2023, the South Korean government spent USD 223 million on R&D in the bioindustry for 252 new projects in four fields: biopharmaceuticals, healthcare, medical devices, and biomaterials. These factors are expected to support market growth.
Reasons to subscribe to South Korea biomaterials market databook:
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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea biomaterials market databook
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Our clientele includes a mix of biomaterials 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 biomaterials market , including forecasts for subscribers. This country databook contains high-level insights into South Korea biomaterials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea biomaterials market size, by product, 2018-2030 (US$M)
South Korea Biomaterials Market Outlook Share, 2023 & 2030 (US$M)
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