South Korea Dna Sequencing Market Size & Outlook
South Korea dna sequencing market, 2018-2030 (US$M)
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South Korea dna sequencing market highlights
- The South Korea dna sequencing market generated a revenue of USD 242.1 million in 2023 and is expected to reach USD 868.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 20% from 2024 to 2030.
- In terms of segment, instruments was the largest revenue generating product & service in 2023.
- Services is the most lucrative product & service segment registering the fastest growth during the forecast period.
Dna sequencing market data book summary
| Market revenue in 2023 | USD 242.1 million |
| Market revenue in 2030 | USD 868.6 million |
| Growth rate | 20% (CAGR from 2023 to 2030) |
| Largest segment | Instruments |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Consumables, Instruments, Services |
| Key market players worldwide | Thermo Fisher Scientific Inc, Agilent Technologies Inc, Illumina Inc, Qiagen NV, Roche Holding AG, Macrogenics Inc, PerkinElmer, Pacific Biosciences of California Inc, BGI Group, BGC Group Inc Ordinary Shares Class A, Bio-Rad Laboratories Inc, Myriad Genetics Inc, PierianDx, Eurofins Scientific SE |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.0% of the global dna sequencing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China dna sequencing 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 3,782.1 million by 2030.
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DNA Sequencing Market Scope
DNA Sequencing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea dna sequencing 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 dna sequencing market will help companies and investors design strategic landscapes.
Instruments was the largest segment with a revenue share of 49.4% in 2023. Horizon Databook has segmented the South Korea dna sequencing market based on consumables, instruments, services covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea exhibits strong potential for R&D capabilities in pharmaceutical and biopharmaceutical sectors, which is expected to boost the demand for NGS products in research. Cancer research has become a national priority for the Korean government.
It supports a number of universities, institutions, and researchers to facilitate cancer research activities, which is anticipated to create major demand for NGS products in the coming years. Furthermore, increasing R&D investments by key pharmaceutical companies in South Korea are anticipated to create a lucrative environment for market growth.
For instance, in June 2019, AstraZeneca announced that it will spend USD 630.0 million on R&D in South Korea over the next 5 years. Similarly, in June 2022, Theragen Bio was selected for a state project to develop advanced chips for genomic analysis, which would be useful to identify the genetic cause of chronic diseases in the Korean population.
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Target buyers of South Korea dna sequencing market databook
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Our clientele includes a mix of dna sequencing 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 dna sequencing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea dna sequencing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea dna sequencing market size, by product & service, 2018-2030 (US$M)
South Korea DNA Sequencing Market Outlook Share, 2023 & 2030 (US$M)
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