South Korea Large Molecule Bioanalytical Testing Services Market Size & Outlook
South Korea large molecule bioanalytical testing services market, 2018-2030 (US$M)
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South Korea large molecule bioanalytical testing services market highlights
- The South Korea large molecule bioanalytical testing services market generated a revenue of USD 25.4 million in 2021 and is expected to reach USD 58.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.7% from 2022 to 2030.
- In terms of segment, clinical was the largest revenue generating phase in 2021.
- Preclinical is the most lucrative phase segment registering the fastest growth during the forecast period.
Large molecule bioanalytical testing services market data book summary
| Market revenue in 2021 | USD 25.4 million |
| Market revenue in 2030 | USD 58.3 million |
| Growth rate | 9.7% (CAGR from 2021 to 2030) |
| Largest segment | Clinical |
| Fastest growing segment | Preclinical |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Preclinical, Clinical |
| Key market players worldwide | Labcorp Holdings Inc, IQVIA Holdings Inc, Syneos Health, SGS AG, Toxikon, Intertek Group PLC, Pace Analytical Services, Icon PLC, Charles River Laboratories International Inc, Thermo Fisher Scientific Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global large molecule bioanalytical testing services market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China large molecule bioanalytical testing services 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 58.4 million by 2030.
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Large Molecule Bioanalytical Testing Services Market Scope
Large Molecule Bioanalytical Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea large molecule bioanalytical testing services 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 large molecule bioanalytical testing services market will help companies and investors design strategic landscapes.
Clinical was the largest segment with a revenue share of 66.14% in 2021. Horizon Databook has segmented the South Korea large molecule bioanalytical testing services market based on preclinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.
Rising clinical trials in the country will drive the market for large molecule bioanalytical testing over the forecast period. For instance, South Korea conducted 17,739 clinical trials between 1999 and 2019, according to WHO’s ICTRP.
This contributes for around 3.38% of the total clinical trials conducted globally in the same period. Furthermore, according to the World Bank, the healthcare expenditure of South Korea was 7.6% of its GDP in 2018. High healthcare expenditure is expected to drive the market.
Major South Korean Pharma players are spending significant mount on R&D. For instance, Yuhan Corp. spent around 97 million USD in 2020 on R&D. Such strategic initiatives by South Korean pharma players will augment the market growth of large molecule bioanalytical testing.
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Target buyers of South Korea large molecule bioanalytical testing services market databook
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Our clientele includes a mix of large molecule bioanalytical testing services 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 large molecule bioanalytical testing services market , including forecasts for subscribers. This country databook contains high-level insights into South Korea large molecule bioanalytical testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea large molecule bioanalytical testing services market size, by phase, 2018-2030 (US$M)
South Korea Large Molecule Bioanalytical Testing Services Market Outlook Share, 2021 & 2030 (US$M)
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