South Korea Biotechnology And Pharmaceutical Services Outsourcing Market Size & Outlook
South Korea biotechnology and pharmaceutical services outsourcing market, 2018-2030 (US$M)
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South Korea biotechnology and pharmaceutical services outsourcing market highlights
- The South Korea biotechnology and pharmaceutical services outsourcing market generated a revenue of USD 1,059.5 million in 2023 and is expected to reach USD 1,612.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.2% from 2024 to 2030.
- In terms of segment, consulting was the largest revenue generating services in 2023.
- Training & Education is the most lucrative services segment registering the fastest growth during the forecast period.
Biotechnology and pharmaceutical services outsourcing market data book summary
| Market revenue in 2023 | USD 1,059.5 million |
| Market revenue in 2030 | USD 1,612.5 million |
| Growth rate | 6.2% (CAGR from 2023 to 2030) |
| Largest segment | Consulting |
| Fastest growing segment | Training & Education |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Consulting, Regulatory Affairs, Product Design & Development, Auditing and Assessment, Product Maintenance, Training & Education |
| Key market players worldwide | PAREXEL, IQVIA Holdings Inc, Heidelberg Materials AG, Labcorp Holdings Inc, Charles River Laboratories International Inc, Icon PLC, Syneos Health, Lonza Group Ltd, Catalent Inc, Samsung BioLogics |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.3% of the global biotechnology and pharmaceutical services outsourcing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biotechnology and pharmaceutical services outsourcing 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 6,530.3 million by 2030.
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Biotechnology And Pharmaceutical Services Outsourcing Market Scope
Biotechnology And Pharmaceutical Services Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea biotechnology and pharmaceutical services outsourcing 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 biotechnology and pharmaceutical services outsourcing market will help companies and investors design strategic landscapes.
Consulting was the largest segment with a revenue share of 32.53% in 2023. Horizon Databook has segmented the South Korea biotechnology and pharmaceutical services outsourcing market based on consulting, regulatory affairs, product design & development, auditing and assessment, product maintenance, training & education covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is one of the major pharmaceutical & biotechnology services outsourcing markets. The country is positioned as the world’s 10th largest pharmaceutical market, a significant driver for the country’s prospective economic expansion.
The government has actively promoted local manufacturing of medicines, increasing the number of domestic pharmaceutical companies in the market. This governmental support is anticipated to propel the growth of the domestic pharmaceutical industry.
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Target buyers of South Korea biotechnology and pharmaceutical services outsourcing market databook
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Our clientele includes a mix of biotechnology and pharmaceutical services outsourcing 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 biotechnology and pharmaceutical services outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea biotechnology and pharmaceutical services outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea biotechnology and pharmaceutical services outsourcing market size, by services, 2018-2030 (US$M)
South Korea Biotechnology And Pharmaceutical Services Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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