The South Korean Contract Research Organization Market 

The South Korean Contract Research Organization Market 

  • August 2015 •
  • 73 pages •
  • Report ID: 3176854
The South Korean Contract Research Organization Market : Government Initiatives Offer Powerful Boost to the Clinical Trials Industry

This study presents an overview and analysis of the South Korean contract research organization (CRO) market. It provides market revenue forecasts by phase and therapeutic type and discusses major issues and challenges, unmet needs, and emerging trends. The study covers the complete life cycle of the CRO market, from preclinical trials to post-marketing surveillance. It provides detailed information on support services such as central laboratory services, bioanalytics, and data management. The research service also analyses market engineering measurements and research and development trends. The study period is 2014 (base year) to 2019.

Key Findings

Clinical Development Spending

- In 2014, the South Korean contract research organization (CRO) market generated $ million in revenue.
- The market is expected to grow at a CAGR of %, reaching $ million in 2019.

Clinical Development — Main Trends

- South Korea is quickly emerging as an attractive destination for conducting clinical trials as witnessed by the rapid increase in the number of local and multinational clinical trials.
- Main drivers for this trend are strong government support, streamlined regulations, fast patient recruitment, and short start-up time.

MNCs and Local Pharmaceutical Companies

- Many global CROs are expanding their market to South Korea by opening up offices in the country and forming alliances with local CROs.
- Small and mid-size CROs are struggling to survive as multinational corporations (MNCs) as well as local companies prefer to outsource their work to specific service providers.