South Korea Large Molecule Drug Substance Cdmo Market Size & Outlook
South Korea large molecule drug substance cdmo market, 2018-2030 (US$M)
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South Korea large molecule drug substance cdmo market highlights
- The South Korea large molecule drug substance cdmo market generated a revenue of USD 274.7 million in 2023 and is expected to reach USD 549.8 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 service in 2023.
- Contract Development is the most lucrative service segment registering the fastest growth during the forecast period.
Large molecule drug substance cdmo market data book summary
| Market revenue in 2023 | USD 274.7 million |
| Market revenue in 2030 | USD 549.8 million |
| Growth rate | 10.4% (CAGR from 2023 to 2030) |
| Largest segment | Contract manufacturing |
| Fastest growing segment | Contract Development |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Contract Manufacturing, Contract Development |
| Key market players worldwide | Eurofins Scientific SE, WuXi Biologics (Cayman) Inc, Catalent Inc, AGC Inc, Siegfried Holding AG, Boehringer Ingelheim, FUJIFILM Holdings Corp, Samsung BioLogics, Rentschler Biopharma SE, Recipharm |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.3% of the global large molecule drug substance cdmo market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China large molecule drug substance cdmo 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 2,980.5 million by 2030.
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Large Molecule Drug Substance CDMO Market Scope
Large Molecule Drug Substance CDMO Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea large molecule drug substance cdmo 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 drug substance cdmo market will help companies and investors design strategic landscapes.
Contract manufacturing was the largest segment with a revenue share of 67.02% in 2023. Horizon Databook has segmented the South Korea large molecule drug substance cdmo market based on contract manufacturing, contract development covering the revenue growth of each sub-segment from 2018 to 2030.
In South Korea, there are nearly 80 contract service providers. 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 and biopharmaceutical industry and encourage biopharmaceutical R&D and 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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Our clientele includes a mix of large molecule drug substance cdmo 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 drug substance cdmo market , including forecasts for subscribers. This country databook contains high-level insights into South Korea large molecule drug substance cdmo market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea large molecule drug substance cdmo market size, by service, 2018-2030 (US$M)
South Korea Large Molecule Drug Substance CDMO Market Outlook Share, 2023 & 2030 (US$M)
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