South Korea Cell & Gene Therapy Bioanalytical Testing Services Market Size & Outlook
South Korea cell & gene therapy bioanalytical testing services market, 2018-2030 (US$M)
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South Korea cell & gene therapy bioanalytical testing services market highlights
- The South Korea cell & gene therapy bioanalytical testing services market generated a revenue of USD 12.8 million in 2023 and is expected to reach USD 20.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, bioavailability & bioequivalence studies was the largest revenue generating test type in 2023.
- Bioavailability & Bioequivalence Studies is the most lucrative test type segment registering the fastest growth during the forecast period.
Cell & gene therapy bioanalytical testing services market data book summary
| Market revenue in 2023 | USD 12.8 million |
| Market revenue in 2030 | USD 20.8 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Bioavailability & bioequivalence studies |
| Fastest growing segment | Bioavailability & Bioequivalence Studies |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Bioavailability & Bioequivalence Studies, Pharmacokinetics, Pharmacodynamics, Other test type |
| Key market players worldwide | IQVIA Holdings Inc, Labcorp Holdings Inc, Thermo Fisher Scientific Inc, Pharmaron Beijing Co Ltd Ordinary Shares - Class H, Charles River Laboratories International Inc, Syneos Health, Intertek Group PLC |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global cell & gene therapy bioanalytical testing services market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan cell & gene therapy bioanalytical testing services 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 59.4 million by 2030.
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Cell & Gene Therapy Bioanalytical Testing Services Market Scope
Cell & Gene Therapy Bioanalytical Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea cell & gene therapy 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 cell & gene therapy bioanalytical testing services market will help companies and investors design strategic landscapes.
Bioavailability & bioequivalence studies was the largest segment with a revenue share of 35.16% in 2023. Horizon Databook has segmented the South Korea cell & gene therapy bioanalytical testing services market based on bioavailability & bioequivalence studies, pharmacokinetics, pharmacodynamics, other test type covering the revenue growth of each sub-segment from 2018 to 2030.
The presence of key pharmaceutical companies and initiatives undertaken by them such as increasing focus on R&D and collaborations with local players to expand their market presence & strengthen their contract manufacturing capabilities in South Korea are contributing to the market growth.
For instance, Cyrus Therapeutics continuously focuses on developing small molecules that target immunosuppression in cancers. These molecules can be used as a monotherapy or in conjunction with other cancer medicines to increase the effectiveness of those therapies.
Moreover, the organization is using synthetic lethality to identify potential therapeutic targets, especially for individuals with BRCA1/2 mutations. When a mutation affects two genes, as opposed to simply one, the result is synthetic lethality, which results in cell death. As a result, treating some cancers may include locating the dormant gene in cancer cells and focusing on the other gene in the pair. These factors promote market growth.
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Target buyers of South Korea cell & gene therapy bioanalytical testing services market databook
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Our clientele includes a mix of cell & gene therapy 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 cell & gene therapy bioanalytical testing services market , including forecasts for subscribers. This country databook contains high-level insights into South Korea cell & gene therapy bioanalytical testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea cell & gene therapy bioanalytical testing services market size, by test type, 2018-2030 (US$M)
South Korea Cell & Gene Therapy Bioanalytical Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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