South Korea Regulatory Affairs Market Size & Outlook
South Korea regulatory affairs market, 2018-2030 (US$M)
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South Korea regulatory affairs market highlights
- The South Korea regulatory affairs market generated a revenue of USD 288.4 million in 2023 and is expected to reach USD 434.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6% 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.
Regulatory affairs market data book summary
| Market revenue in 2023 | USD 288.4 million |
| Market revenue in 2030 | USD 434.9 million |
| Growth rate | 6% (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 | Genpact Ltd, Criterium Inc., Icon PLC, Wuxi AppTec Co Ltd, Medpace Holdings Inc, Charles River Laboratories International Inc, Labcorp Holdings Inc, FREYR Battery Inc, Pharmexon, Cambridge Design Partnership, Voisin Consulting Life Sciences, Accell, PAREXEL, Promedica International, PharmaLex, NDA Regulatory Service GmbH, QVigilance, BlueReg Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.9% of the global regulatory affairs market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan regulatory affairs 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 2,151.1 million by 2030.
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Regulatory Affairs Market Scope
Regulatory Affairs Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea regulatory affairs 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 regulatory affairs market will help companies and investors design strategic landscapes.
Outsourcing was the largest segment with a revenue share of 58.11% in 2023. Horizon Databook has segmented the South Korea regulatory affairs market based on in-house, outsourcing covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is one of the largest markets in Asia Pacific along with Japan, China, and India. The medical device market is dependent on imports as low-end medical devices are manufactured in the country.
High-end medical devices are imported from North America, Asia, and Europe. The medical equipment imports from these three regions account for 60.0% of the total market demand, with the U.S. holding the largest share among the three.
Companies exporting med-tech equipment to South Korea require appointment of a representative or an importer to ensure regulatory compliance & gain medical device approval. The demand for legal representation services is expected to increase owing to growing import of medical devices.
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Our clientele includes a mix of regulatory affairs market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea regulatory affairs market , including forecasts for subscribers. This country databook contains high-level insights into South Korea regulatory affairs market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea regulatory affairs market size, by type, 2018-2030 (US$M)
South Korea Regulatory Affairs Market Outlook Share, 2023 & 2030 (US$M)
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