South Korea Microbiome Sequencing Services Market Size & Outlook
South Korea microbiome sequencing services market, 2018-2030 (US$M)
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South Korea microbiome sequencing services market highlights
- The South Korea microbiome sequencing services market generated a revenue of USD 21.0 million in 2023 and is expected to reach USD 52.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 14.1% from 2024 to 2030.
- In terms of segment, sequencing by synthesis was the largest revenue generating technology in 2023.
- Sequencing by synthesis is the most lucrative technology segment registering the fastest growth during the forecast period.
Microbiome sequencing services market data book summary
| Market revenue in 2023 | USD 21.0 million |
| Market revenue in 2030 | USD 52.6 million |
| Growth rate | 14.1% (CAGR from 2023 to 2030) |
| Largest segment | Sequencing by synthesis |
| Fastest growing segment | Sequencing by synthesis |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sequencing by synthesis, Sequencing by ligation, Sanger sequencing |
| Key market players worldwide | Microbiome Insights Inc., BaseClear, Clinical Microbiomics, Mérieux NutriSciences Corporation, Mr Dna, Metabiomics, Rancho BioSciences, Second Genome, Zymo Research, uBiome |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.4% of the global microbiome sequencing services market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China microbiome sequencing 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 75.0 million by 2030.
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Microbiome Sequencing Services Market Scope
Microbiome Sequencing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea microbiome sequencing 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 microbiome sequencing services market will help companies and investors design strategic landscapes.
Sequencing by synthesis was the largest segment with a revenue share of 59.52% in 2023. Horizon Databook has segmented the South Korea microbiome sequencing services market based on sequencing by synthesis, sequencing by ligation, sanger sequencing covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea exhibits strong potential for R&D capabilities in the pharmaceutical and biopharmaceutical sectors, which is expected to boost the demand for sequencing products in research. Cancer research has become a national priority for the Korean government.
It supports several universities, institutions, and researchers to facilitate cancer research activities, which is anticipated to create a major demand for sequencing services in the coming years. Furthermore, increasing R&D investments by key pharmaceutical companies in South Korea are anticipated to create a lucrative environment for market growth.
One of the leasing microbiome sequencing service providers in South Korea is Macrogen, Inc. The company provides customized solutions to analyze a person’s gut microbiome. Moreover, the company has been providing sequencing services to strengthen the capabilities of personalized medicine.
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Our clientele includes a mix of microbiome sequencing services 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 microbiome sequencing services market , including forecasts for subscribers. This country databook contains high-level insights into South Korea microbiome sequencing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea microbiome sequencing services market size, by technology, 2018-2030 (US$M)
South Korea Microbiome Sequencing Services Market Outlook Share, 2023 & 2030 (US$M)
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