South Korea In Vivo Cro Market Size & Outlook, 2023-2030
South Korea in vivo cro market, 2018-2030 (US$M)
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South Korea in vivo cro market highlights
- The South Korea in vivo cro market generated a revenue of USD 36.1 million in 2023 and is expected to reach USD 65.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9% from 2024 to 2030.
- In terms of segment, small molecule was the largest revenue generating modality type in 2023.
- Large Molecule is the most lucrative modality type segment registering the fastest growth during the forecast period.
In vivo cro market data book summary
| Market revenue in 2023 | USD 36.1 million |
| Market revenue in 2030 | USD 65.9 million |
| Growth rate | 9% (CAGR from 2023 to 2030) |
| Largest segment | Small molecule |
| Fastest growing segment | Large Molecule |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Small Molecule, Large Molecule |
| Key market players worldwide | IQVIA Holdings Inc, JSR Corp, Taconic Biosciences, Evotec SE, Janvier Labs, Charles River Laboratories International Inc, Icon PLC, Labcorp Holdings Inc, PAREXEL, GemPharmatech, PsychoGenics, Biocytogen, SMO-Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.8% of the global in vivo cro market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan in vivo cro 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 122.7 million by 2030.
Small molecule was the largest segment with a revenue share of 63.71% in 2023. Horizon Databook has segmented the South Korea in vivo cro market based on small molecule, large molecule covering the revenue growth of each sub-segment from 2018 to 2030.
Over the past few years, South Korea has emerged as a global clinical hub. The government has implemented various support structures to facilitate clinical research in the country. The government has established Korea National Enterprise for Clinical Trials to encourage training & partnerships, establish high standards, and build clinical trial infrastructure.
In addition, the Korea Drug Development Fund, with a budget of USD 1,000 million, has been instrumental in promoting the development of new medicines in the country. This is expected to propel the in vivo CRO market growth during the forecast period.
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In Vivo CRO Market Scope
In Vivo CRO Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea in vivo cro market size, by modality type, 2018-2030 (US$M)
South Korea In Vivo CRO Market Outlook Share, 2023 & 2030 (US$M)
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