Market revenue in 2024 | USD 127.4 million |
Market revenue in 2030 | USD 195.1 million |
Growth rate | 7.3% (CAGR from 2025 to 2030) |
Largest segment | Outsource |
Fastest growing segment | Outsource |
Historical data | 2018 - 2023 |
Base year | 2024 |
Forecast period | 2025 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | In-house, Outsource |
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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 medical device regulatory affairs market will help companies and investors design strategic landscapes.
Outsource was the largest segment with a revenue share of 64.36% in 2024. Horizon Databook has segmented the South Korea medical device regulatory affairs market based on in-house, outsource covering the revenue growth of each sub-segment from 2018 to 2030.
The country has several high-tech manufacturing facilities as well as research infrastructure. The cost of manufacturing and development of medical devices is quite low in the country as compared to developed economies. This is expected to boost the demand for the manufacturing and development of medical devices in South Korea.
The country's geriatric population is growing. For instance, according to World Bank, the geriatric population accounted for over 14% of the total population in 2018, and by 2021, this number increased to 17%. Such a rise in the geriatric population is expected to lead to an increase in the manufacturing of medical devices in the country, thus creating opportunities for market players in South Korea.
South Korea is a prominent destination for clinical trials in Asia, with its superior medical infrastructure and a highly educated, relatively healthy & wealthy population. The government support in the country for developing a robust clinical trial environment is anticipated to contribute to the demand for clinical trial application services, thereby contributing to market growth.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea medical device regulatory affairs market , including forecasts for subscribers. This country databook contains high-level insights into South Korea medical device regulatory affairs market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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