South Korea Virtual Clinical Trials Market Size & Outlook
Related Markets
South Korea virtual clinical trials market highlights
- The South Korea virtual clinical trials market generated a revenue of USD 229.3 million in 2023 and is expected to reach USD 377.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, interventional was the largest revenue generating study design in 2023.
- Expanded Access is the most lucrative study design segment registering the fastest growth during the forecast period.
Virtual clinical trials market data book summary
| Market revenue in 2023 | USD 229.3 million |
| Market revenue in 2030 | USD 377.3 million |
| Growth rate | 7.4% (CAGR from 2024 to 2030) |
| Largest segment | Interventional |
| Fastest growing segment | Expanded Access |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Interventional, Observational, Expanded Access |
| Key market players worldwide | Icon PLC, PAREXEL, IQVIA Holdings Inc, Labcorp Holdings Inc, LEO Pharma, Medidata, Oracle Corp, Signant Health |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.6% of the global virtual clinical trials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China virtual clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 377.3 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Virtual Clinical Trials Market Scope
Virtual Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Signant Health | View profile | 1001-5000 | Blue Bell, Pennsylvania, United States, North America | https://www.signanthealth.com/ |
| Medidata | View profile | 1001-5000 | New York, New York, United States, North America | https://www.medidata.com |
| PAREXEL | View profile | 10001+ | Waltham, Massachusetts, United States, North America | http://www.parexel.com |
| IQVIA Holdings Inc | View profile | 87000 | 2400 Ellis Road, Durham, NC, United States, 27703 | https://www.iqvia.com |
| LEO Pharma | View profile | 1001-5000 | Parsippany, New Jersey, United States, North America | http://www.leo-pharma.us/ |
| Icon PLC | View profile | 41150 | South County Business Park, Leopardstown, Dublin, Ireland, D18 X5R3 | https://www.iconplc.com |
| Labcorp Holdings Inc | View profile | 67000 | 358 South Main Street, Burlington, NC, United States, 27215 | https://www.labcorp.com |
| Oracle Corp | View profile | 164000 | 2300 Oracle Way, Austin, TX, United States, 78741 | https://www.oracle.com |
South Korea virtual clinical trials 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 virtual clinical trials market will help companies and investors design strategic landscapes.
Interventional was the largest segment with a revenue share of 50.37% in 2023. Horizon Databook has segmented the South Korea virtual clinical trials market based on interventional, observational, expanded access covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is one of the significant markets for virtual clinical trials in Asia Pacific region along with Japan, China, and India. Healthcare digitalization is a major factor contributing to the market growth over the forecast period.
It is one of the key growth areas of South Korea. Various telecom and data communication companies are developing telemedicine solutions as an important part of healthcare offering. For instance, TELUS Health partnered with Babylon to develop an app for patient triage and virtual consultations with clinicians, so that patients from Canada can also consult with doctors in case of emergency and nonemergency conditions.
Furthermore, rising incidence of cardiovascular disease is one of the important drivers for market growth in this country. According to CDC, the overall prevalence of cardiovascular diseases was 35.7% in 2018. Hence, virtual clinical trials market is expected to exhibit lucrative growth over the forecast period.
Reasons to subscribe to South Korea virtual clinical trials market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea virtual clinical trials market databook
-
Our clientele includes a mix of virtual clinical trials market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
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 virtual clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into South Korea virtual clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea virtual clinical trials market size, by study design, 2017-2030 (US$M)
South Korea Virtual Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
