South Korea Veterinary Active Pharmaceutical Ingredients Manufacturing Market Size & Outlook
South Korea veterinary active pharmaceutical ingredients manufacturing market, 2018-2030 (US$M)
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South Korea veterinary active pharmaceutical ingredients manufacturing market highlights
- The South Korea veterinary active pharmaceutical ingredients manufacturing market generated a revenue of USD 205.9 million in 2023 and is expected to reach USD 351.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.9% from 2024 to 2030.
- In terms of segment, in house was the largest revenue generating service type in 2023.
- Contract Outsourcing is the most lucrative service type segment registering the fastest growth during the forecast period.
Veterinary active pharmaceutical ingredients manufacturing market data book summary
| Market revenue in 2023 | USD 205.9 million |
| Market revenue in 2030 | USD 351.0 million |
| Growth rate | 7.9% (CAGR from 2023 to 2030) |
| Largest segment | In house |
| Fastest growing segment | Contract Outsourcing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | In House, Contract Outsourcing |
| Key market players worldwide | Zoetis Inc Class A, SeQuent Scientific, Ofichem Group, The Chem-Pro Group, Siflon Drugs & Pharmaceuticals, Vetpharma, Suanfarma Biotech, Menadiona, Excel Industries |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.4% of the global veterinary active pharmaceutical ingredients manufacturing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China veterinary active pharmaceutical ingredients 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 905.2 million by 2030.
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Veterinary Active Pharmaceutical Ingredients Manufacturing Market Scope
Veterinary Active Pharmaceutical Ingredients Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea veterinary active pharmaceutical ingredients 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 veterinary active pharmaceutical ingredients manufacturing market will help companies and investors design strategic landscapes.
In house was the largest segment with a revenue share of 65.27% in 2023. Horizon Databook has segmented the South Korea veterinary active pharmaceutical ingredients manufacturing market based on in house, contract outsourcing covering the revenue growth of each sub-segment from 2018 to 2030.
The veterinary API market in South Korea is estimated to exhibit lucrative growth in the forthcoming decade. Growth can be attributed to the rising pet population and increasing government initiatives to improve animal health.
This growing pet population is expected to drive demand for veterinary APIs in the country. The consumption of animal-based food products is expected to continue to rise in the upcoming decade, which is anticipated to drive the demand for veterinary APIs in the country.
In addition, the government in South Korea implemented various initiatives to improve animal health, including the establishment of the Korea Centers for Disease Control and Prevention (KCDC) and the Animal & Plant Quarantine Agency (APQA).
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Target buyers of South Korea veterinary active pharmaceutical ingredients manufacturing market databook
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Our clientele includes a mix of veterinary active pharmaceutical ingredients 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 veterinary active pharmaceutical ingredients manufacturing market , including forecasts for subscribers. This country databook contains high-level insights into South Korea veterinary active pharmaceutical ingredients manufacturing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea veterinary active pharmaceutical ingredients manufacturing market size, by service type, 2018-2030 (US$M)
South Korea Veterinary Active Pharmaceutical Ingredients Manufacturing Market Outlook Share, 2023 & 2030 (US$M)
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