South Korea Contract Research Organization Market Size, Share, and COVID-19 Impact Analysis, By Type Outlook (Drug Discovery and Clinical Development), By Clinical Trial Outlook (Preclinical Trials, Phase I, Phase II, Phase III, Phase IV, and Others), By End User Outlook (Academic Institutes, Pharmaceutical Companies, and Medical Service Companies), and South Korea Contract Research Organization Market Insights, Industry Trend, Forecasts to 2035.

South Korea Contract Research Organization Market Insights Forecasts to 2035

• The South Korea Contract Research Organization Market Size Was Estimated at USD 1.786 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 4.57% from 2025 to 2035
• The South Korea Contract Research Organization Market Size is Expected to Reach USD 2.92 Million by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Contract Research Organization Market Size is anticipated to reach USD 2.92 Million by 2035, growing at a CAGR of 4.57% from 2025 to 2035. The market for contract research organizations (CROs) in South Korea is expanding significantly due to a number of factors. The growing R&D spending by both local and foreign pharmaceutical and biotechnology industries is one of the main factors driving the industry.

Market Overview

A Contract Research Organization (CRO) is a business that provides outsourced research and development services, particularly in the biotechnology and pharmaceutical industries. To assist businesses in advancing drug or medical device proposals from the early phases of development to regulatory approval, they oversee clinical trials, carry out preclinical research, and provide a variety of services. CROs might be tiny, specialized businesses or big, international corporations. Through process optimization and the utilization of economies of scale, CROs can contribute to the reduction of overall research and development expenses. Access to a multitude of expertise in clinical trial design, data management, and regulatory affairs is made possible by CROs. CROs can expedite research processes, which will speed up product development and project timelines. Significant market potential is created by the growing trend of outsourcing clinical trials and research activities to CROs due to their speed, cost-effectiveness, and specialized knowledge. Demand for CRO services is increased by the efficiency and accuracy gained from integrating AI, big data analytics, and other technologies into clinical trials and research procedures. To make it more appealing for CROs to perform clinical trials, governments are actively seeking to shorten and simplify the drug approval process. Initiatives like accelerated review paths for particular diseases and the use of digital technology to hasten the submission and review of data.

Report Coverage

This research report categorizes the market for South Korea contract research organization market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea contract research organization market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each South Korea contract research organization market sub-segment.

Driving Factors

Clinical trials and the services of CROs to manage them are becoming more and more necessary as a result of the large R&D expenditures made by pharmaceutical and biotechnology businesses.  Clinical trials are becoming more and more common as such of the need to evaluate existing treatments and the development of novel drug candidates. CROs are essential to the effective execution of these trials. To cut expenses, simplify processes, and get access to specialist knowledge, businesses are increasingly contracting with CROs to conduct clinical trials. The escalation of chronic illnesses, including cancer, diabetes, and cardiovascular diseases, calls for the creation of novel treatments as well as substantial clinical research.

Restraining Factors

Academic and research organizations, as well as biotechnology, pharmaceutical, and medical device firms, compete with CROs for skilled scientists and specialists. There is a lack of competent workers as a result of this competitiveness and the life sciences industry's increasing need for skilled workers, especially in developing disciplines like biotechnology. In the end, this shortfall may restrict market expansion by impeding the adoption of new practices and technology. Since clinical trials produce a lot of sensitive and personally identifiable information (PII), CROs are very concerned about data security and privacy.

Market Segmentation

The South Korea contract research organization market share is classified into type outlook, clinical trials outlook, and end-user outlook.

• The drug discovery segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea contract research organization market is segmented by type outlook into drug discovery and clinical development. Among these, the drug discovery segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. As pharmaceutical businesses constantly look to improve their research skills, the drug discovery segment is essential.

• The preclinical trials segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea contract research organization market is segmented by clinical trial outlook into preclinical trials, phase I, phase II, phase III, phase IV, and others. Among these, the preclinical trials segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. A preclinical trial that prepares the path for clinical testing is preclinical trials, which include laboratory and animal research.

• The academic institutes segment held a dominated share in 2024 and is expected to grow at a substantial CAGR during the forecast period.

The South Korea contract research organization market is segmented by end-user outlook into academic institutes, pharmaceutical companies, and medical service companies. The academic institutes segment held a dominated share in 2024 and is expected to grow at a substantial CAGR during the forecast period. Academic institutions are essential to the advancement of research, and government-backed programs encourage industry-academia cooperation, especially in the areas of clinical trials and innovative treatment approaches.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea contract research organization market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• LSK Global PS
• C&R Research
• Seoul CRO
• SYMYOO
• Hamilton CS
• Medical Excellence
• PharmaCRO
• SEO-CHO CRO
• The Way Healthcare
• NeoNutra
• CiKLux
• Promedis
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea contract research organization market based on the below-mentioned segments:

South Korea Contract Research Organization Market, By Type Outlook

• Drug Discovery
• Clinical Development

South Korea Contract Research Organization Market, By Clinical Trial Outlook

•  Preclinical Trials
•  Phase I
•  Phase II
•  Phase III
•  Phase IV
•  Others

South Korea Contract Research Organization Market, By End User Outlook

• Academic institutes
• Pharmaceutical companies
• Medical service companies