South Korea Healthcare Contract Development And Manufacturing Organization Market Size & Outlook
South Korea healthcare contract development and manufacturing organization market, 2018-2030 (US$M)
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South Korea healthcare contract development and manufacturing organization market highlights
- The South Korea healthcare contract development and manufacturing organization market generated a revenue of USD 4,086.6 million in 2023 and is expected to reach USD 8,192.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.4% from 2024 to 2030.
- In terms of segment, contract manufacturing was the largest revenue generating services in 2023.
- Contract Manufacturing is the most lucrative services segment registering the fastest growth during the forecast period.
Healthcare contract development and manufacturing organization market data book summary
| Market revenue in 2023 | USD 4,086.6 million |
| Market revenue in 2030 | USD 8,192.3 million |
| Growth rate | 10.4% (CAGR from 2023 to 2030) |
| Largest segment | Contract manufacturing |
| Fastest growing segment | Contract Manufacturing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Contract Development, Contract Manufacturing |
| Key market players worldwide | Catalent Inc, Lonza Group Ltd, Recipharm, Siegfried Holding AG, Thermo Fisher Scientific Inc, Labcorp Drug Development, Jabil Inc, Syngene, IQVIA Holdings Inc, Almac Group, Ajinomoto Co Inc, Alcami, Vetter Pharma-Fertigung |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global healthcare contract development and manufacturing organization market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China healthcare contract development and manufacturing organization 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 47,180.3 million by 2030.
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Healthcare Contract Development And Manufacturing Organization Market Scope
Healthcare Contract Development And Manufacturing Organization Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea healthcare contract development and manufacturing organization 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 healthcare contract development and manufacturing organization market will help companies and investors design strategic landscapes.
Contract manufacturing was the largest segment with a revenue share of 77.98% in 2023. Horizon Databook has segmented the South Korea healthcare contract development and manufacturing organization market based on contract development, contract manufacturing covering the revenue growth of each sub-segment from 2018 to 2030.
In South Korea, there are nearly 80 contract service providers. Out of these, nearly 50% offer API chemical manufacturing, while the rest offer commercial solid dose manufacturing and commercial dose injectable manufacturing services. Supportive government reforms are anticipated to propel the market over the forecast period.
For instance, in 2020, the South Korean president announced an investment of nearly USD 1.7 billion to promote biotechnology & biopharmaceutical industry and encourage biopharmaceutical R&D & manufacturing.
The president mentioned an increase in tax credits for facility and R&D investments, thereby presenting economic benefits for investors and facilitating market growth. Such initiatives are expected to create lucrative growth opportunities in the market over the forecast period.
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Target buyers of South Korea healthcare contract development and manufacturing organization market databook
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Our clientele includes a mix of healthcare contract development and manufacturing organization 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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea healthcare contract development and manufacturing organization market , including forecasts for subscribers. This country databook contains high-level insights into South Korea healthcare contract development and manufacturing organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea healthcare contract development and manufacturing organization market size, by services, 2018-2030 (US$M)
South Korea Healthcare Contract Development And Manufacturing Organization Market Outlook Share, 2023 & 2030 (US$M)
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