South Korea Medical Device Regulatory Affairs Market Size & Outlook
South Korea medical device regulatory affairs market, 2018-2030 (US$M)
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South Korea medical device regulatory affairs market highlights
- The South Korea medical device regulatory affairs market generated a revenue of USD 161.2 million in 2023 and is expected to reach USD 297.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9.1% from 2024 to 2030.
- In terms of segment, regulatory writing & publishing was the largest revenue generating services in 2023.
- Regulatory Consulting is the most lucrative services segment registering the fastest growth during the forecast period.
Medical device regulatory affairs market data book summary
| Market revenue in 2023 | USD 161.2 million |
| Market revenue in 2030 | USD 297.5 million |
| Growth rate | 9.1% (CAGR from 2023 to 2030) |
| Largest segment | Regulatory writing & publishing |
| Fastest growing segment | Regulatory Consulting |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Regulatory Consulting, Legal Representation, Regulatory Writing & Publishing, Product Registration & Clinical Trial Applications, Other Services |
| Key market players worldwide | Labcorp Holdings Inc, Icon PLC, IQVIA Holdings Inc, Intertek Group PLC, SGS AG, Promedica International, Integer Holdings Corp, Medpace Holdings Inc, Emergo Group, Freyr Solutions |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.4% of the global medical device regulatory affairs market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China medical device regulatory affairs 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 1,271.4 million by 2030.
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Medical Device Regulatory Affairs Market Scope
Medical Device Regulatory Affairs Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea medical device regulatory affairs 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 medical device regulatory affairs market will help companies and investors design strategic landscapes.
Regulatory writing & publishing was the largest segment with a revenue share of 53.29% in 2023. Horizon Databook has segmented the South Korea medical device regulatory affairs market based on regulatory consulting, legal representation, regulatory writing & publishing, product registration & clinical trial applications, other services covering the revenue growth of each sub-segment from 2018 to 2030.
The country has several high-tech manufacturing facilities as well as research infrastructure. The cost of manufacturing and development of medical devices is quite low in the country as compared to developed economies.
This is expected to boost the demand for the manufacturing and development of medical devices in South Korea. The country's geriatric population is growing. For instance, according to World Bank, the geriatric population accounted for over 14% of the total population in 2018, and by 2021, this number increased to 17%.
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Target buyers of South Korea medical device regulatory affairs market databook
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Our clientele includes a mix of medical device regulatory affairs market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea medical device regulatory affairs market , including forecasts for subscribers. This country databook contains high-level insights into South Korea medical device regulatory affairs market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea medical device regulatory affairs market size, by services, 2018-2030 (US$M)
South Korea Medical Device Regulatory Affairs Market Outlook Share, 2023 & 2030 (US$M)
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