South Korea Pharmaceutical Market Size & Outlook
South Korea pharmaceutical market, 2018-2030 (US$M)
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South Korea pharmaceutical market highlights
- The South Korea pharmaceutical market generated a revenue of USD 28,830.3 million in 2024 and is expected to reach USD 44,245.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.4% from 2025 to 2030.
- In terms of segment, conventional drugs (small molecules) was the largest revenue generating molecule in 2024.
- Biologics & Biosimilars (Large Molecules) is the most lucrative molecule segment registering the fastest growth during the forecast period.
Pharmaceutical market data book summary
| Market revenue in 2024 | USD 28,830.3 million |
| Market revenue in 2030 | USD 44,245.2 million |
| Growth rate | 7.4% (CAGR from 2025 to 2030) |
| Largest segment | Conventional drugs (small molecules) |
| Fastest growing segment | Biologics & Biosimilars (Large Molecules) |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics & Biosimilars (Large Molecules), Conventional Drugs (Small Molecules) |
| Key market players worldwide | Merck & Co Inc, Roche Holding AG, Novartis AG ADR, AbbVie Inc, Johnson & Johnson, Pfizer Inc, Bristol-Myers Squibb Co, Sanofi SA, GSK PLC, Takeda Pharmaceutical Co Ltd |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.8% of the global pharmaceutical market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pharmaceutical 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 63,747.4 million by 2030.
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Pharmaceutical Market Scope
Pharmaceutical Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea pharmaceutical 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 pharmaceutical market will help companies and investors design strategic landscapes.
Conventional drugs (small molecules) was the largest segment with a revenue share of 58.27% in 2024. Horizon Databook has segmented the South Korea pharmaceutical market based on biologics & biosimilars (large molecules), conventional drugs (small molecules) covering the revenue growth of each sub-segment from 2018 to 2030.
The pharmaceutical market in South Korea is one of the most advanced and competitive in Asia, consistently experiencing steady growth. As one of the largest markets in the region, South Korea offers lucrative opportunities for pharmaceutical companies due to its well-developed healthcare system, robust research and development (R&D) infrastructure, and the government’s supportive policies.
In 2023, global pharmaceutical companies invested USD 620 million in clinical research in South Korea, underscoring the country’s growing importance as a hub for clinical research. This significant investment highlights South Korea’s advanced infrastructure and supportive regulatory environment for R&D activities, further strengthening its position as a leading destination for pharmaceutical innovation.
The number of clinical trials conducted in South Korea also rose by 7.7%, reaching a total of 1,723 trials in the same period. This increase in clinical trial activity reflects the growing confidence international pharmaceutical companies have in the country’s ability to support complex studies, positioning South Korea as a key player in global drug development.
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Target buyers of South Korea pharmaceutical market databook
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Our clientele includes a mix of pharmaceutical 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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea pharmaceutical market , including forecasts for subscribers. This country databook contains high-level insights into South Korea pharmaceutical market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea pharmaceutical market size, by molecule, 2018-2030 (US$M)
South Korea Pharmaceutical Market Outlook Share, 2024 & 2030 (US$M)
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