South Korea Multiomics Market Size & Outlook, 2023-2030
South Korea multiomics market, 2018-2030 (US$M)
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South Korea multiomics market highlights
- The South Korea multiomics market generated a revenue of USD 39.6 million in 2023 and is expected to reach USD 136.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 19.3% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating product & service in 2023.
- Services is the most lucrative product & service segment registering the fastest growth during the forecast period.
Multiomics market data book summary
| Market revenue in 2023 | USD 39.6 million |
| Market revenue in 2030 | USD 136.1 million |
| Growth rate | 19.3% (CAGR from 2023 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Services, Product |
| Key market players worldwide | Thermo Fisher Scientific Inc, Illumina Inc, Danaher Corp, Shimadzu Corp, Bruker Corp, Qiagen NV, Agilent Technologies Inc, BD, Revvity Inc, BGI Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global multiomics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China multiomics 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 194.0 million by 2030.
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Multiomics Market Scope
Multiomics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea multiomics 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 multiomics market will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 57.83% in 2023. Horizon Databook has segmented the South Korea multiomics market based on services, product 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 multiomics products in research. Furthermore, the South Korean government has been a key factor in promoting growth in biotechnology and life sciences by allocating significant funds for R&D and has introduced policies to promote innovation in these areas.
In addition, increasing R&D investments by key pharmaceutical companies in South Korea are anticipated to create a lucrative environment for market growth. For instance, in June 2019, AstraZeneca announced that it would spend USD 630.0 million on R&D in South Korea over the next 5 years.
Similarly, in June 2022, Theragen Bio was selected for a state project to develop advanced chips for genomic analysis, which would be useful in identifying the genetic cause of chronic diseases in the Korean population.
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Target buyers of South Korea multiomics market databook
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Our clientele includes a mix of multiomics 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 multiomics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea multiomics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea multiomics market size, by product & service, 2018-2030 (US$M)
South Korea Multiomics Market Outlook Share, 2023 & 2030 (US$M)
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