As per MRFR analysis, the South Korea Biotechnology Pharmaceutical Services Outsourced Market Size was estimated at 1.47 (USD Billion) in 2023.The South Korea Biotechnology Pharmaceutical Services Outsourced Market is expected to grow from 1.53(USD Billion) in 2024 to 2.87 (USD Billion) by 2035. The South Korea Biotechnology Pharmaceutical Services Outsourced Market CAGR (growth rate) is expected to be around 5.843% during the forecast period (2025 - 2035).
Key South Korea Biotechnology Pharmaceutical Services Outsourced Market Trends Highlighted
Numerous reasons are causing notable changes in the biotechnology pharmaceutical services outsourcing business in South Korea. The nation's strong infrastructure and sophisticated healthcare system, which foster the expansion of biotechnology companies, are major market drivers.
Through programs designed to improve R&D capacity and promote innovation, the government has been proactive in investing in biotechnology. As businesses look to save expenses and streamline procedures, this has led to a rise in cooperation between pharmaceutical corporations and contract research organisations (CROs).
The need for specialised outsourced services is further fuelled by the growth of biopharmaceuticals, especially in oncology and uncommon disorders. There are several opportunities in this industry, particularly given the nation's goal of becoming a biotechnology hub on a worldwide scale by 2030.
Due to its advantageous geographic location in Asia and robust regulatory environment, South Korea attracts foreign customers looking for dependable and superior services. The growing popularity of personalised therapeutics and precision medicine also creates new opportunities for CROs to provide pharmaceutical companies customised solutions.
Furthermore, the increasing digitisation of healthcare, which includes the application of big data analytics and artificial intelligence, improves the effectiveness of services provided. Recent trends highlight the growing partnerships between academic institutions and biopharmaceutical businesses, which aid in bridging the gap between research and commercialisation.
Biotechnology-focused firms have also proliferated in South Korea, suggesting a thriving innovation-oriented ecosystem. Companies are using outsourced services to efficiently manage complexity as a result of the ongoing evolution of regulatory norms.
The outsourcing market is expected to expand as a result of South Korea's dedication to promoting biotechnology, which is in line with worldwide trends towards more specialised and effective healthcare solutions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
South Korea Biotechnology Pharmaceutical Services Outsourced Market Drivers
Increase in Biotechnology Investments
The South Korea Biotechnology Pharmaceutical Services Outsourced Market is experiencing significant growth due to increased investments from both government and private sectors. In 2021, the South Korean government announced a substantial increase in its biotechnology budget, totaling approximately 2.8 trillion Korean Won to support research and development projects in the biotechnology sector.
This investment is aimed at fostering innovation in fields such as gene therapy and biopharmaceuticals, ultimately propelling the market forward. Established organizations like Samsung Biologics and SK Biopharm are expected to benefit from this influx of capital, which will enhance their capabilities in pharmaceutical outsourcing services.
Rising Demand for Personalized Medicine
A growing focus on personalized medicine in South Korea is significantly driving the Biotechnology Pharmaceutical Services Outsourced Market. With advances in genomics and biotechnology, there is an increasing demand for tailored therapies that meet the specific needs of patients.
The Korean biotechnology industry has reported that the personalized medicine market is projected to reach around 1.7 trillion Korean Won by 2025, reflecting an ambition to shift from traditional methods to customized healthcare solutions. Key players like Celltrion are driving this trend by investing in services that allow for the development of personalized therapeutics.
Supportive Regulatory Environment
The South Korean government has established a supportive regulatory framework to facilitate the growth of the Biotechnology Pharmaceutical Services Outsourced Market. In 2022, the Ministry of Food and Drug Safety published revised guidelines to expedite the approval processes for new biopharmaceuticals, aiming to reduce the approval time by up to 50%.
This notable change is expected to boost confidence among biopharmaceutical companies, encouraging them to outsource more services to local firms such as CJ Healthcare and Hanmi Pharmaceutical, thus accelerating market growth.
Increased Prevalence of Chronic Diseases
The alarming rise in chronic diseases in South Korea, such as diabetes and cancer, is a key driver for the Biotechnology Pharmaceutical Services Outsourced Market. Recent statistics from the Korean Ministry of Health and Welfare indicate that around 31% of the adult population in South Korea is living with one or more chronic conditions, which is expected to escalate in the coming years.
This surge in patient population is compelling pharmaceutical companies to invest more in research and development for innovative treatments, leading to increased outsourcing of biotechnology services. Companies like LG Chem are stepping up to address this critical healthcare challenge by expanding their pharmaceutical services.
South Korea Biotechnology Pharmaceutical Services Outsourced Market Segment Insights
Biotechnology Pharmaceutical Services Outsourced Market Service Insights
The South Korea Biotechnology Pharmaceutical Services Outsourced Market, particularly within the Service segment, has been witnessing notable advancements due to the increasing complexity of drug development processes, stringent regulatory requirements, and the growing need for specialized expertise.
The service offerings encompass a variety of crucial functions including Consulting, Auditing and Assessment, Regulatory Affairs, Product Maintenance, Product Design and Development, Product Testing and Validation, and Training and Education.
Among these, Regulatory Affairs holds significant importance as companies navigate the intricate landscape of compliance and approvals required for biopharmaceutical products. The Consulting services enable organizations to devise effective strategies by leveraging expert insights, thus highlighting the necessity for tailored solutions in a competitive market.
Auditing and Assessment functions are critical to ensuring that firms adhere to the stringent safety and quality standards set by regulatory bodies which bolsters consumer trust in biopharmaceutical products. Moreover, Product Design and Development services are increasingly recognized for their role in creating innovative therapies that meet the evolving healthcare needs of society.
Expertise in these areas is essential not only to foster breakthrough discoveries but also to enhance existing products' marketability and effectiveness. In contrast, Product Testing and Validation services play a vital role in establishing product reliability, which is of utmost importance as firms strive to deliver safe and effective treatments to patients.
Training and Education are equally pivotal as they ensure that personnel remain updated on the latest industry standards, technologies, and regulatory guidelines, thereby fostering a knowledgeable workforce adept at handling the complexities of biopharmaceutical operations.
The evolving nature of the South Korean biotechnology landscape, buoyed by collaborations between government entities and private organizations, is expected to amplify the significance of these services in the near future while presenting opportunities to address challenges like heightened competition and reduced development times.
Therefore, as the market continues to expand, the diverse array of services offered within the Biotechnology Pharmaceutical Services Outsourced Market holds strategic importance for both emerging and established firms aiming to enhance their competitive edge and operational proficiency.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Biotechnology Pharmaceutical Services Outsourced Market End-use Insights
The South Korea Biotechnology Pharmaceutical Services Outsourced Market demonstrates strong potential within the End-use category, particularly driven by the significant demand from the Pharmaceutical and Biotechnology sectors.
The Pharmaceutical segment plays a crucial role due to the high volume of drug development and the increasing trend towards personalized medicine, which requires extensive outsourcing of laboratory and clinical services. As South Korea is recognized for its advanced healthcare infrastructure and growing pharmaceutical research initiatives, this segment is pivotal for market growth.
Meanwhile, the Biotechnology segment remains vital, reflecting advancements in biomanufacturing and the increasing need for biologics. This sector benefits from the government's supportive policies aimed at fostering innovation and technological advancements.
The country's emphasis on Research and Development further enhances the attractiveness of these segments, leading to a greater shift towards outsourcing, as companies aim to concentrate on core competencies and drive efficiency.
With the continual rise in investments in both segments, the South Korea Biotechnology Pharmaceutical Services Outsourced Market is positioned to adapt to evolving market demands and capitalize on emerging opportunities.
South Korea Biotechnology Pharmaceutical Services Outsourced Market Key Players and Competitive Insights
The South Korea Biotechnology Pharmaceutical Services Outsourced Market is experiencing robust growth, driven by increased demand for innovative therapies and the rapid advancement of biopharmaceuticals.
As the country positions itself as a leader in biotechnology, numerous firms are engaging in comprehensive research and development activities, fostering collaborations, and tapping into global markets.
This competitive landscape is characterized by a mix of established players and emerging enterprises that focus on leveraging advanced technologies, regulatory expertise, and specialized services to enhance the efficiency and effectiveness of drug development processes.
The dynamic nature of this market is further fueled by a supportive regulatory environment, increasing investments in biotechnology, and a strong emphasis on precision medicine, which together contribute to the overall expansion and competitiveness of the sector.
SK Bioscience has established a significant presence in the South Korea Biotechnology Pharmaceutical Services Outsourced Market, recognized for its innovative approaches to vaccine development and production.
The company's strengths lie in its state-of-the-art facilities and technological capabilities, enabling it to efficiently respond to both domestic and international demands for biologics. SK Bioscience has successfully developed several key products, positioning itself as a vital player in the biopharmaceutical landscape.
Additionally, the company's strong collaborations with government entities and research organizations have bolstered its capabilities, allowing it to pioneer advanced solutions in vaccine research and development. These factors combine to enhance its competitive position within the rapidly evolving biotechnology sector in South Korea.
Korea United Pharm continues to maintain a strong foothold in the South Korea Biotechnology Pharmaceutical Services Outsourced Market, characterized by its extensive portfolio of pharmaceutical products that include a range of biopharmaceuticals and specialty medicines.
The company is well-recognized for its commitment to quality and innovation, which is reflected in its ongoing investments in research and development. Korea United Pharm's strengths encompass a solid market presence, strategic partnerships, and a focus on expanding its therapeutic offerings.
The firm's approach to mergers and acquisitions has been pivotal in advancing its capabilities and market reach, allowing it to integrate diverse technologies and resources into its operations. This has not only enhanced its competitive edge but also enabled Korea United Pharm to align closely with the evolving needs of patients and healthcare professionals within South Korea's biotechnology landscape.
Key Companies in the South Korea Biotechnology Pharmaceutical Services Outsourced Market Include:
South Korea Biotechnology Pharmaceutical Services Outsourced Market Developments
Recent developments in the South Korea Biotechnology Pharmaceutical Services Outsourced Market have been notably dynamic, with companies like SK Bioscience and Celltrion leading the way in innovation and growth.
In October 2023, LG Chem announced enhancements in its Research and Development capabilities to advance biopharmaceutical production processes, solidifying its presence in the market. Additionally, in September 2023, Samsung Biologics secured a major contract with a global pharmaceutical firm, significantly increasing its production capacity.
Merger and acquisition activities have also been prevalent; in August 2023, Daewoong Pharmaceutical acquired technology rights from ISU Abxis, enhancing its therapeutic portfolio. On the valuation front, the South Korean biotechnology market has been projected to exceed $20 billion by 2025, driven by investments and increasing demand for biopharmaceutical solutions.
Notably, the sector has experienced growth due to the COVID-19 pandemic, with many companies, including Medytox and Hanmi Pharmaceutical, pivoting towards pandemic-related research and vaccine development efforts in the past couple of years. Furthermore, Korea United Pharm’s strategic partnerships have expanded its footprint in the Asia-Pacific region, emphasizing the competitive landscape of the market.
South Korea Biotechnology Pharmaceutical Services Outsourced Market Segmentation Insights
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 1.47(USD Billion) |
| MARKET SIZE 2024 | 1.53(USD Billion) |
| MARKET SIZE 2035 | 2.87(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 5.843% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | SK Bioscience, Korea United Pharm, LG Chem, Celltrion, ISU Abxis, CJ HealthCare, Eugene Science, Daewoong Pharmaceutical, Medytox, Samsung Biologics, PharmAbcine, Hugel, Genexine, Green Cross, Hanmi Pharmaceutical |
| SEGMENTS COVERED | Service, End Use |
| KEY MARKET OPPORTUNITIES | Increased R&D investment, Advanced biomanufacturing capabilities, Collaboration with tech startups, Growing demand for personalized medicine, Regulatory support for innovation |
| KEY MARKET DYNAMICS | regulatory environment changes, increasing R&D investments, growing demand for biologics, competition from global players, rising health awareness |
| COUNTRIES COVERED | South Korea |
Frequently Asked Questions (FAQ) :
The market is expected to be valued at 1.53 USD Billion in 2024.
By 2035, the market is forecasted to reach a value of 2.87 USD Billion.
The expected CAGR for this market is 5.843% during the period from 2025 to 2035.
The Consulting segment is anticipated to be valued at 0.36 USD Billion in 2024, marking its largest revenue contribution.
The Regulatory Affairs service is projected to reach a value of 0.56 USD Billion by 2035.
Key players include SK Bioscience, Celltrion, LG Chem, Samsung Biologics, and Hanmi Pharmaceutical.
The Auditing & Assessment service is expected to be valued at 0.28 USD Billion in 2024.
The Product Design & Development service is anticipated to grow to 0.66 USD Billion by 2035.
Challenges may include regulatory changes and growing competition in the biotechnology sector.
Opportunities lie in the increasing demand for innovative drugs and services from both domestic and global clients.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2025 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
