South Korea Precision Medicine Market to to Grow with a CAGR of 19.11% through 2030
Increasing
incidences of cancer and increasing research & development activities is
expected to drive the growth of South Korea Precision Medicine Market in the
forecast period 2026-2030.
According
to TechSci Research report, “South Korea Precision Medicine - By Region, Competition, Forecast & Opportunities, 2020-2030F,” South Korea Precision
Medicine Market stood at USD 2.15 billion in 2024 and is anticipated to
grow with a CAGR of 19.11% in the forecast period through 2030. This can
be ascribed to the rising incidences of cancer, increasing research &
development activities and technological advancements. The market of precision
medicine is increasing in South Korea due to the growing geriatric population
which is likely to get infected easily. The growth is further influenced by
various research and development activities conducted for the treatment of
cancer in several diagnostic labs.
Through
precision medicine, healthcare providers offer specific medicine to the
patients based on the genes, proteins, and other substances in the patient’s
body. The market's expansion is impeded by the lack of skilled
professionals (Biotechnologists or Scientists), the high cost of precision
medicine, longer manufacturing time, and requirement of proper care. South
Korea has been at the forefront of establishing widespread testing and contact
tracing, employing genomic sequencing to monitor the spread of the virus and
find novel strains. As a result, demand for genetic sequencing products and
services has increased dramatically, fueling the expansion of the precision
medicine market.
Several
developments are expected to have an impact on the rise of the precision
medicine market in South Korea in the coming years. These include advances in
genomic science and technology such as CRISPR-Cas gene editing and single-cell
sequencing, a rise in the use of artificial intelligence (AI) and data
analytics for individualized healthcare, growing partnerships between academic
institutions and companies, and the integration of precision medicine into
governmental healthcare programmes. The market's expansion in South Korea is
going to be fueled by the growing emphasis on preventive healthcare and a
growing awareness of the advantages of precision medicine among healthcare
professionals and patients.
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"South Korea Precision Medicine Market".
The South
Korea Precision Medicine Market is segmented into Products & Services,
Technology, Application, End User, Regional Distribution and Company.
Based on Product & Services, Precision Medicine
Platforms are emerging as the fastest growing segment. This growth is driven by
the country's strong digital infrastructure, increasing demand for integrated
healthcare data, and strategic national initiatives aimed at healthcare
digitalization. These platforms serve as the backbone for aggregating and
analyzing a vast array of clinical, genomic, and lifestyle data, enabling more
tailored diagnostic and therapeutic decisions. Their rapid adoption is further
fueled by the expansion of artificial intelligence and machine learning
technologies, which enhance platform functionalities such as predictive
analytics, biomarker discovery, and decision-support systems.
Based on Region, the Southern region of South
Korea—comprising cities such as Busan, Daegu, and Gwangju—is emerging as the
fastest-growing area in the country’s precision medicine landscape. The rapid
growth in this region is fueled by expanding healthcare infrastructure,
increased regional R&D funding, and the government’s focused effort to
decentralize healthcare innovation. Cities like Busan are increasingly
positioning themselves as medical and research hubs, supported by the
establishment of bio-health industrial complexes and genomic data
centers. The Southern region is also benefiting from regional government
efforts to promote precision diagnostics and targeted therapy capabilities in
secondary and tertiary hospitals. Institutions in this region are investing in
high-throughput genomic sequencing, AI-enabled diagnostics, and personalized
cancer treatment programs. The expansion of regional medical universities and
research centers has led to growing participation in national genomics initiatives
and clinical trials. Additionally, the government's push to promote digital
healthcare innovation outside the capital area is fostering stronger
infrastructure and incentivizing private investment in precision medicine
technologies.
Major companies operating in South Korea Precision
Medicine Market are:
- IBM
Korea Inc.
- AstraZeneca
Korea Co. Ltd.
- Agilent
Technologies Korea Ltd.
- Novartis
Korea Ltd
- Thermo
Fisher Scientific Inc.
- QIAGEN
N.V.
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“The South
Korea precision medicine market has grown significantly until now and will
continue to do so in the forecast years. The development of genomes and
molecular diagnostics, expanding R&D spending, government assistance, and
growing public awareness of personalized healthcare are important factors. The
use of telemedicine, blending of AI and data analytics, and partnerships
between academia and industry are some main technological advancements
supporting the market growth. The market has to deal with challenges such as
limited reimbursement policies, regulatory complexity, and worries over data
protection. Precision medicine is advanced by clinical trials, which are
ongoing investigations concentrating on various illnesses and treatments. In
oncology, precision medicine offers focused medicines and better patient
outcomes. More accurate diagnosis and treatment decision-making are now
possible thanks to technological developments including genome sequencing, AI
algorithms, and improved imaging techniques.” said Mr. Karan Chechi, Research
Director of TechSci Research, a research based global management consulting
firm.
“South Korea Precision Medicine Market By Products & Services (Precision Medicine Platforms, Precision Medicine Tools, Precision Medicine Services), By Technology (Big Data Analytics, Artificial Intelligence, Bioinformatics, Whole Genome Sequencing, Companion Diagnostics, Next Generation Sequencing (NGS), Others), By Application (Oncology, Cardiology, Respiratory, Neurology, Immunology, Others), By End User (Pharmaceutical and Biotechnology Companies, Healthcare IT, Diagnostic Companies, Clinical Research Organization, Research Institutes), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future
growth potential of South Korea Precision Medicine Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in South Korea Precision Medicine Market.
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