South Korea Pharmacovigilance Market Size & Outlook
The pharmacovigilance market in South Korea is expected to reach a projected revenue of US$ 895.9 million by 2030. A compound annual growth rate of 8.2% is expected of South Korea pharmacovigilance market from 2025 to 2030.
Revenue, 2024 (US$M)
$549.7
Forecast, 2030 (US$M)
$895.9
CAGR, 2025 - 2030
8.2%
Report Coverage
South Korea
Related Markets
South Korea pharmacovigilance market highlights
- The South Korea pharmacovigilance market generated a revenue of USD 549.7 million in 2024 and is expected to reach USD 895.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.2% from 2025 to 2030.
- In terms of segment, phase 4 was the largest revenue generating product life cycle in 2024.
- Phase 1 is the most lucrative product life cycle segment registering the fastest growth during the forecast period.
Pharmacovigilance market data book summary
| Market revenue in 2024 | USD 549.7 million |
| Market revenue in 2030 | USD 895.9 million |
| Growth rate | 8.2% (CAGR from 2025 to 2030) |
| Largest segment | Phase 4 |
| Fastest growing segment | Phase 1 |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Phase 2, Phase 1, Phase 3, Phase 4, Pre Clinical |
| Key market players worldwide | Accenture PLC Class A, IQVIA Holdings Inc, Cognizant Technology Solutions Corp Class A, Linical Americas, International Business Machines Corp, Labcorp Holdings Inc, ArisGlobal, Capgemini SE, ITClinical, Icon PLC, TAKE Solutions, PAREXEL, Wipro Ltd ADR, United Biosource Corporation, FMD K&L, BioClinica |
Other key industry trends
- In terms of revenue, South Korea accounted for 6.9% of the global pharmacovigilance market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pharmacovigilance 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 340.5 million by 2030.
Phase 4 was the largest segment with a revenue share of 83.21% in 2024. Horizon Databook has segmented the South Korea pharmacovigilance market based on phase 2, phase 1, phase 3, phase 4, pre clinical covering the revenue growth of each sub-segment from 2018 to 2030.
The market growth can be attributed to the ease of access to pharmaceuticals, rising adoption of polypharmacy, expedited drug development, and rising prevalence of chronic diseases. Moreover, rising government investment in the development of healthcare infrastructure is anticipated to fuel market growth.
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Pharmacovigilance Market Scope
Pharmacovigilance market segmentation & scope
Pharmacovigilance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| BioClinica | View profile | 1001-5000 | Newtown, Pennsylvania, United States, North America | http://www.bioclinica.com |
| FMD K&L | View profile | 51-100 | Fort Washington, Pennsylvania, United States, North America | https://clinchoice.com |
| United Biosource Corporation | View profile | 1001-5000 | Bethesda, Maryland, United States, North America | http://ubc.com |
| ITClinical | View profile | 11-50 | Lisboa, Lisboa, Portugal, Europe | https://itclinical.com/ |
| Linical Americas | View profile | 501-1000 | Stuart, Florida, United States, North America | https://www.linicalamericas.com |
| TAKE Solutions | View profile | 1001-5000 | Princeton, New Jersey, United States, North America | http://www.takesolutions.com |
| Capgemini SE | View profile | 340400 | 11 rue de Tilsitt, Paris, France, 75017 | https://www.capgemini.com |
| ArisGlobal | View profile | 1001-5000 | Coral Gables, Florida, United States, North America | https://www.arisglobal.com |
| PAREXEL | View profile | 10001+ | Waltham, Massachusetts, United States, North America | http://www.parexel.com |
| IQVIA Holdings Inc | View profile | 87000 | 2400 Ellis Road, Durham, NC, United States, 27703 | https://www.iqvia.com |
| Icon PLC | View profile | 41150 | South County Business Park, Leopardstown, Dublin, Ireland, D18 X5R3 | https://www.iconplc.com |
| Labcorp Holdings Inc | View profile | 67000 | 358 South Main Street, Burlington, NC, United States, 27215 | https://www.labcorp.com |
| Cognizant Technology Solutions Corp Class A | View profile | 344400 | 300 Frank West Burr Boulevard, Suite 36, 6th Floor, Teaneck, NJ, United States, 07666 | https://www.cognizant.com |
| Accenture PLC Class A | View profile | 742000 | 1 Grand Canal Square, Grand Canal Harbour, Dublin, Ireland, 2 | https://www.accenture.com |
| Wipro Ltd ADR | View profile | 244707 | Sarjapur Road, Doddakannelli, Bangalore, KA, India, 560 035 | https://www.wipro.com |
| International Business Machines Corp | View profile | 282200 | One New Orchard Road, Armonk, NY, United States, 10504 | http://www.ibm.com |
South Korea pharmacovigilance market size, by product life cycle, 2018-2030 (US$M)
South Korea Pharmacovigilance Market Outlook Share, 2024 & 2030 (US$M)
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