South Korea Laboratory Supplies Market Size & Outlook
South Korea laboratory supplies market, 2018-2030 (US$M)
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South Korea laboratory supplies market highlights
- The South Korea laboratory supplies market generated a revenue of USD 513.2 million in 2023 and is expected to reach USD 685.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4.2% from 2024 to 2030.
- In terms of segment, equipment was the largest revenue generating product in 2023.
- Disposables is the most lucrative product segment registering the fastest growth during the forecast period.
Laboratory supplies market data book summary
| Market revenue in 2023 | USD 513.2 million |
| Market revenue in 2030 | USD 685.3 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Equipment |
| Fastest growing segment | Disposables |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Equipment, Disposables |
| Key market players worldwide | Agilent Technologies Inc, Bio-Rad Laboratories Inc, Bruker Corp, Danaher Corp, FUJIFILM Holdings Corp, PerkinElmer, Sartorius AG, Shimadzu Corp, Thermo Fisher Scientific Inc, Waters Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.2% of the global laboratory supplies market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China laboratory supplies market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,155.8 million by 2030.
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Laboratory Supplies Market Scope
Laboratory Supplies Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea laboratory supplies 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 laboratory supplies market will help companies and investors design strategic landscapes.
Equipment was the largest segment with a revenue share of 62.59% in 2023. Horizon Databook has segmented the South Korea laboratory supplies market based on equipment, disposables covering the revenue growth of each sub-segment from 2018 to 2030.
Its medical device market is significantly dependent on imports, with low-end medical devices being locally manufactured and high-end medical devices being imported from the U.S, Japan, & EU countries. The medical equipment imports from these regions account for 60.0% of the total market demand, with the U.S. holding the largest share among the three regions.
According to Business Korea, in 2018, the total amount of Korea’s R&D investment reached 4.6% of its GDP. As of 2018, there were 616 research-based pharmaceutical companies in South Korea, out of which, Hanmi Pharmaceutical was leading the market.
Hanmi Pharmaceutical has invested over 150 billion in R&D for developing new drug projects for anticancer drugs, targeting the global market. The presence of such research-oriented companies is anticipated to fuel the demand for lab supplies. Supportive government reforms are anticipated to facilitate market growth.
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Target buyers of South Korea laboratory supplies market databook
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Our clientele includes a mix of laboratory supplies 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 laboratory supplies market , including forecasts for subscribers. This country databook contains high-level insights into South Korea laboratory supplies market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea laboratory supplies market size, by product, 2018-2030 (US$M)
South Korea Laboratory Supplies Market Outlook Share, 2023 & 2030 (US$M)
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