South Korea Central Lab Market Size & Outlook, 2023-2030
South Korea central lab market, 2018-2030 (US$M)
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South Korea central lab market highlights
- The South Korea central lab market generated a revenue of USD 56.9 million in 2023 and is expected to reach USD 94.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, biomarker services was the largest revenue generating services in 2023.
- Genetic Services is the most lucrative services segment registering the fastest growth during the forecast period.
Central lab market data book summary
| Market revenue in 2023 | USD 56.9 million |
| Market revenue in 2030 | USD 94.2 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Biomarker services |
| Fastest growing segment | Genetic Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Genetic Services, Biomarker Services, Microbiology Services, Anatomic Pathology/Histology, Specimen Management & Storage, Special Chemistry Services |
| Key market players worldwide | LabConnect, Eurofins Scientific SE, A. P. Moller Maersk A/S ADR, ACM Global, Cerba Research, Synevo Central Labs, Versiti, Cenetron, Ampersand Capital Partners, Pacific Biomarkers, Cirion |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global central lab market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan central lab 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 170.4 million by 2030.
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Central Lab Market Scope
Central Lab Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea central lab 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 central lab market will help companies and investors design strategic landscapes.
Biomarker services was the largest segment with a revenue share of 38.49% in 2023. Horizon Databook has segmented the South Korea central lab market based on genetic services, biomarker services, microbiology services, anatomic pathology/histology, specimen management & storage, special chemistry services covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is an emerging outsourcing location for clinical trials in the Asia Pacific region due to several factors such as a simple patient recruitment process, performance of quality research, and an improved regulatory system.
Furthermore, the country consists of a Westernized healthcare system while still maintaining low costs for undertaking clinical research, which is expected to potentially attract pharmaceutical companies from more developed regions.
In recent years, the country has undertaken several safety and protection initiatives for conducting clinical trials. For instance, South Korea’s Ministry of Food and Drug Safety (MFDS) provides training programs for professionals involved in performing clinical trial operations.
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Our clientele includes a mix of central lab market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea central lab market , including forecasts for subscribers. This country databook contains high-level insights into South Korea central lab market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea central lab market size, by services, 2018-2030 (US$M)
South Korea Central Lab Market Outlook Share, 2023 & 2030 (US$M)
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