South Korea Next-generation Sequencing Data Analysis Market Size & Outlook
South Korea next-generation sequencing data analysis market, 2018-2030 (US$M)
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South Korea next-generation sequencing data analysis market highlights
- The South Korea next-generation sequencing data analysis market generated a revenue of USD 23.0 million in 2023 and is expected to reach USD 74.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 18.2% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating product in 2023.
- Services is the most lucrative product segment registering the fastest growth during the forecast period.
Next-generation sequencing data analysis market data book summary
| Market revenue in 2023 | USD 23.0 million |
| Market revenue in 2030 | USD 74.1 million |
| Growth rate | 18.2% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Services, NGS Commercial Software |
| Key market players worldwide | Bio-Rad Laboratories Inc, DNAnexus, Qiagen NV, DNAstar, Pacific Biosciences of California Inc, Eurofins Scientific SE, Illumina Inc, PierianDx, Agilent Technologies Inc, Roche Holding AG, Alphabet Inc Class A, Thermo Fisher Scientific Inc, Golden Helix, Scigenom Labs, Genuity Science, Fabric Genomics (formerly Omicia), Congenica, Precigen |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.1% of the global next-generation sequencing data analysis market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China next-generation sequencing data analysis 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 295.4 million by 2030.
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Next-generation Sequencing Data Analysis Market Scope
Next-generation Sequencing Data Analysis Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea next-generation sequencing data analysis 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 next-generation sequencing data analysis market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 53.91% in 2023. Horizon Databook has segmented the South Korea next-generation sequencing data analysis market based on services, ngs commercial software covering the revenue growth of each sub-segment from 2018 to 2030.
Healthcare sector in South Korea is witnessing rapid digitalization of healthcare. Moreover, the country is focusing on developing and establishing advanced genome-based platforms. For instance, in September 2021, National Project of Bio Big Data announced a strategic collaboration with Illumina Inc. to establish a national digital library on health and genome by 2028.
During implementation of the project, the authority is planning to utilize DRAGEN Bio-IT Platform for NGS data analysis. Furthermore, in May 2021, UNIST and Ulsan City achieved the mark of 10,000 WGS through their collaborative genome project. Implementation of such projects is likely to drive the demand for NGS data analysis platform, which is expected to fuel market growth.
Furthermore, increasing collaborations and partnerships by Korean pharmaceutical and biotechnology companies to gain access to advanced NGS systems are expected to support market growth in the country.
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Target buyers of South Korea next-generation sequencing data analysis market databook
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Our clientele includes a mix of next-generation sequencing data analysis 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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea next-generation sequencing data analysis market , including forecasts for subscribers. This country databook contains high-level insights into South Korea next-generation sequencing data analysis market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea next-generation sequencing data analysis market size, by product, 2018-2030 (US$M)
South Korea Next-generation Sequencing Data Analysis Market Outlook Share, 2023 & 2030 (US$M)
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