South Korea Genomics Market Size & Outlook, 2023-2030
South Korea genomics market, 2018-2030 (US$M)
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South Korea genomics market highlights
- The South Korea genomics market generated a revenue of USD 214.0 million in 2023 and is expected to reach USD 698.6 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, functional genomics was the largest revenue generating application in 2023.
- Pathway Analysis is the most lucrative application segment registering the fastest growth during the forecast period.
Genomics market data book summary
| Market revenue in 2023 | USD 214.0 million |
| Market revenue in 2030 | USD 698.6 million |
| Growth rate | 18.4% (CAGR from 2023 to 2030) |
| Largest segment | Functional genomics |
| Fastest growing segment | Pathway Analysis |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Functional Genomics, Epigenomics, Pathway Analysis, Biomarker Discovery |
| Key market players worldwide | Agilent Technologies Inc, Bio-Rad Laboratories Inc, Danaher Corp, Eppendorf, Eurofins Scientific SE, Roche Holding AG ADR, GE Aerospace, Illumina Inc, Myriad Genetics Inc, Oxford Nanopore Technologies PLC, Pacific Biosciences of California Inc, Qiagen NV, Quest Diagnostics Inc, Thermo Fisher Scientific Inc, 23andMe Holding Co Class A |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.7% of the global genomics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China genomics 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 2,434.1 million by 2030.
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Genomics Market Scope
Genomics Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea genomics 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 genomics market will help companies and investors design strategic landscapes.
Functional genomics was the largest segment with a revenue share of 31.78% in 2023. Horizon Databook has segmented the South Korea genomics market based on functional genomics, epigenomics, pathway analysis, biomarker discovery covering the revenue growth of each sub-segment from 2018 to 2030.
Genomic medicine is a rapidly growing industry in South Korea, with much popularity gained by genetic testing, genomic research, and precision medicine. In addition, DTC genetic tests & services are experiencing an increase in attention by policymakers, anticipated to favor the entry of emerging companies.
Widespread penetration of genetic testing products in South Korea, especially increased demand for personalized care for cancer and other hereditary diseases. However, few developments have been observed in the QA of private laboratories and lack of effective training of health professionals & favorable health coverage are collectively expected to hamper the market growth to a certain extent.
South Korea exhibits strong potential for R&D capabilities in the pharmaceutical and biopharmaceutical sectors, which is expected to boost the demand for genomics products in research. Cancer research has become a national priority for the Korean government.
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Target buyers of South Korea genomics market databook
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Our clientele includes a mix of genomics 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 genomics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea genomics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea genomics market size, by application, 2018-2030 (US$M)
South Korea Genomics Market Outlook Share, 2023 & 2030 (US$M)
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