South Korea Pharmaceutical Sterility Testing Market Size & Outlook
South Korea pharmaceutical sterility testing market, 2018-2030 (US$M)
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South Korea pharmaceutical sterility testing market highlights
- The South Korea pharmaceutical sterility testing market generated a revenue of USD 22.3 million in 2023 and is expected to reach USD 50.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 12.4% from 2024 to 2030.
- In terms of segment, outsourcing was the largest revenue generating type in 2023.
- Outsourcing is the most lucrative type segment registering the fastest growth during the forecast period.
Pharmaceutical sterility testing market data book summary
| Market revenue in 2023 | USD 22.3 million |
| Market revenue in 2030 | USD 50.5 million |
| Growth rate | 12.4% (CAGR from 2023 to 2030) |
| Largest segment | Outsourcing |
| Fastest growing segment | Outsourcing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | In-House, Outsourcing |
| Key market players worldwide | Steris PLC, Sotera Health Co Ordinary Shares, Sartorius AG, Solvias, SGS AG, Labcorp Holdings Inc, Pace Analytical Services, Charles River Laboratories International Inc, Thermo Fisher Scientific Inc, Rapid Micro Biosystems Inc Class A, Almac Group, Pacific BioLabs, Inc., Boston Analytical, Labor LS |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.4% of the global pharmaceutical sterility testing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pharmaceutical sterility testing 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 251.8 million by 2030.
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Pharmaceutical Sterility Testing Market Scope
Pharmaceutical Sterility Testing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea pharmaceutical sterility testing 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 sterility testing market will help companies and investors design strategic landscapes.
Outsourcing was the largest segment with a revenue share of 60.99% in 2023. Horizon Databook has segmented the South Korea pharmaceutical sterility testing market based on in-house, outsourcing covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing government support is expected to improve opportunities for drug development companies. In recent years, South Korea has emerged as a notable force in science funding.
Substantial government expenditures and strong private investments have propelled total R&D support from approximately 3.9% of Gross Domestic Product (GDP) a decade ago to over 4.9% in 2022.
In addition, the government’s support for developing a robust clinical trial environment is expected to boost the demand for clinical trial application services, contributing to market growth. Furthermore, the country’s geriatric population is growing.
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Target buyers of South Korea pharmaceutical sterility testing market databook
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Our clientele includes a mix of pharmaceutical sterility testing 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 pharmaceutical sterility testing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea pharmaceutical sterility testing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea pharmaceutical sterility testing market size, by type, 2018-2030 (US$M)
South Korea Pharmaceutical Sterility Testing Market Outlook Share, 2023 & 2030 (US$M)
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