South Korea Upstream Bioprocessing Market Size & Outlook
South Korea upstream bioprocessing market, 2018-2030 (US$M)
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South Korea upstream bioprocessing market highlights
- The South Korea upstream bioprocessing market generated a revenue of USD 1,021.5 million in 2023 and is expected to reach USD 2,945.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 16.3% from 2024 to 2030.
- In terms of segment, bioreactors/fermenters was the largest revenue generating product in 2023.
- Cell Culture Products is the most lucrative product segment registering the fastest growth during the forecast period.
Upstream bioprocessing market data book summary
| Market revenue in 2023 | USD 1,021.5 million |
| Market revenue in 2030 | USD 2,945.2 million |
| Growth rate | 16.3% (CAGR from 2023 to 2030) |
| Largest segment | Bioreactors/fermenters |
| Fastest growing segment | Cell Culture Products |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Bioreactors/Fermenters, Cell Culture Products, Filters, Bioreactors Accessories, Bags & Containers |
| Key market players worldwide | Thermo Fisher Scientific Inc, Merck KGaA, Corning Inc, Sartorius AG, Eppendorf, Danaher Corp, Boehringer Ingelheim, Getinge AB Class B, Lonza Group Ltd, Avantor Inc, Repligen Corp, Entegris Inc, PBS Biotech, Meissner, Kuhner Shaker |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.2% of the global upstream bioprocessing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China upstream bioprocessing 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 5,622.5 million by 2030.
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Upstream Bioprocessing Market Scope
Upstream Bioprocessing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea upstream bioprocessing 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 upstream bioprocessing market will help companies and investors design strategic landscapes.
Bioreactors/fermenters was the largest segment with a revenue share of 30.96% in 2023. Horizon Databook has segmented the South Korea upstream bioprocessing market based on bioreactors/fermenters, cell culture products, filters, bioreactors accessories, bags & containers covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has developed a supportive landscape for companies to boost the country's upstream bioprocessing market. For instance, in May 2023, Merck, a science and technology company, entered into a non-binding Memorandum of Understanding (MoU) with the Ministry of Trade, Industry, and Energy (MOTIE) and Daejeon City, positioning itself as a catalyst for the growth of upstream bioprocessing market in South Korea.
This collaborative effort is aimed at establishing an Asia-Pacific Bio Processing Center that is strategically focused on strengthening the healthcare ecosystem in the region. The planned bioprocessing facility is expected to support commercial manufacturing activities for biotech and pharmaceutical clients across Asia Pacific.
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Target buyers of South Korea upstream bioprocessing market databook
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Our clientele includes a mix of upstream bioprocessing 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 upstream bioprocessing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea upstream bioprocessing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea upstream bioprocessing market size, by product, 2018-2030 (US$M)
South Korea Upstream Bioprocessing Market Outlook Share, 2023 & 2030 (US$M)
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