South Korea Vaccine Contract Manufacturing Market Size & Outlook
South Korea vaccine contract manufacturing market, 2018-2030 (US$M)
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South Korea vaccine contract manufacturing market highlights
- The South Korea vaccine contract manufacturing market generated a revenue of USD 125.0 million in 2023 and is expected to reach USD 199.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, attenuated vaccine was the largest revenue generating vaccine type in 2023.
- DNA Vaccines is the most lucrative vaccine type segment registering the fastest growth during the forecast period.
Vaccine contract manufacturing market data book summary
| Market revenue in 2023 | USD 125.0 million |
| Market revenue in 2030 | USD 199.7 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | Attenuated vaccine |
| Fastest growing segment | DNA Vaccines |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Attenuated Vaccine, Inactivated Vaccine, Subunit Vaccines, Toxoid Vaccines, DNA Vaccines |
| Key market players worldwide | Lonza Group Ltd, FUJIFILM Holdings Corp, Merck KGaA, Catalent Inc, Icon PLC, Syngene, Curia, Ajinomoto Co Inc, IDT Biologika |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.0% of the global vaccine contract manufacturing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India vaccine contract manufacturing 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 598.6 million by 2030.
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Vaccine Contract Manufacturing Market Scope
Vaccine Contract Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea vaccine contract manufacturing 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 vaccine contract manufacturing market will help companies and investors design strategic landscapes.
Attenuated vaccine was the largest segment with a revenue share of 30.4% in 2023. Horizon Databook has segmented the South Korea vaccine contract manufacturing market based on attenuated vaccine, inactivated vaccine, subunit vaccines, toxoid vaccines, dna vaccines covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean government has implemented various regulations and guidelines to ensure the safety of vaccines, such as the GMP and the Korean Pharmacopoeia. These guidelines provide recommendations for the manufacturing, testing, & storing vaccines to prevent contamination and ensure their effectiveness.
Overall, the vaccine contract manufacturing market in South Korea is expected to grow in the coming years, driven by the increasing demand for vaccines and the government's initiatives to support drug development companies.
The market is highly competitive, with several players offering a wide range of services and products, and it is likely to continue to attract local and international companies.
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Target buyers of South Korea vaccine contract manufacturing market databook
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Our clientele includes a mix of vaccine contract manufacturing 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 vaccine contract manufacturing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea vaccine contract manufacturing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea vaccine contract manufacturing market size, by vaccine type, 2018-2030 (US$M)
South Korea Vaccine Contract Manufacturing Market Outlook Share, 2023 & 2030 (US$M)
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