South Korea Healthcare Contract Research Organization Market Size & Outlook
South Korea healthcare contract research organization market, 2018-2030 (US$M)
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South Korea healthcare contract research organization market highlights
- The South Korea healthcare contract research organization market generated a revenue of USD 1,994.9 million in 2023 and is expected to reach USD 3,502.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, clinical was the largest revenue generating type in 2023.
- Pre-Clinical is the most lucrative type segment registering the fastest growth during the forecast period.
Healthcare contract research organization market data book summary
| Market revenue in 2023 | USD 1,994.9 million |
| Market revenue in 2030 | USD 3,502.0 million |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | Clinical |
| Fastest growing segment | Pre-Clinical |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Drug Discovery, Pre-Clinical, Clinical |
| Key market players worldwide | Icon PLC, Charles River Laboratories International Inc, IQVIA Holdings Inc, GVK Biosciences, Labcorp Holdings Inc, Thermo Fisher Scientific Inc, PAREXEL, Dassault Systemes SE, Pharmaron Beijing Co Ltd Ordinary Shares - Class H, SGS AG, Worldwide Clinical Trials, Wuxi AppTec Co Ltd, Caidya |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.9% of the global healthcare contract research organization market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan healthcare contract research organization 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 4,181.3 million by 2030.
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Healthcare Contract Research Organization Market Scope
Healthcare Contract Research Organization Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea healthcare contract research 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 research organization market will help companies and investors design strategic landscapes.
Clinical was the largest segment with a revenue share of 75.82% in 2023. Horizon Databook has segmented the South Korea healthcare contract research organization market based on drug discovery, pre-clinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has emerged as a leading destination for clinical trials in Asia due to its top-notch medical infrastructure and a highly educated, relatively healthy, and affluent population.
The Korean Ministry of Food & Drug Safety, previously known as the Korean FDA, is the primary regulatory body that oversees medical devices, drugs, food, and cosmetic products.
The government’s efforts to establish a robust clinical trial environment are expected to drive the demand for clinical trial application services, contributing to market growth. Multiple collaborations between industry players are set to make South Korea a lucrative market for healthcare CROs.
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Our clientele includes a mix of healthcare contract research organization market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea healthcare contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into South Korea healthcare contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea healthcare contract research organization market size, by type, 2018-2030 (US$M)
South Korea Healthcare Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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