Biotechnology Market in South Korea – Size, Forecast, and Competitive Landscape: Explore Orum Therapeutics’ South Korean Potential

Market Outlook: Biotechnology Market in South Korea 2025-2029

The biotechnology market in South Korea is rapidly growing, fueled by advancements in genomics, biopharmaceuticals, healthcare innovations, and government support for research and development, positioning the country as a leader in biotech within Asia. The market is expected to grow by USD 25-35 billion at a CAGR of 15%-20% between 2025 and 2029. Exact values for this market can be accessed upon purchasing the report. Key companies in this market include:

• Celltrion
• SK Biopharmaceuticals
• Hanmi Pharmaceutical
• MedPacto
• Others

IPO Company Overview: Orum Therapeutics in the South Korean biotechnology market

Orum Therapeutics Inc. recently launched its IPO on the KOSPI in February 2025 under the ticker symbol 475830, creating a new opportunity for investors. Orum Therapeutics is a South Korean biotechnology company specializing in the development of next-generation cancer therapies using its proprietary OrumMab technology platform. The company focuses on monoclonal antibodies and immuno-oncology treatments, leveraging cutting-edge antibody engineering to design highly selective and effective therapeutics aimed at targeting hard-to-treat cancers. Orum Therapeutics is committed to advancing targeted therapies that enhance immune system responses, offering promising solutions for patients with solid tumors and hematological malignancies.

Market Segmentation: How is the South Korean biotechnology market segmented?

By Technology

• DNA Sequencing
• Nanobiotechnology
• Cell Based Assay
• PCR Technology
• Chromatography Market
• Others

By Application

• Biopharmaceuticals
• Food & Agriculture
• Bioinformatics
• Others

The biggest application segment in the biotechnology market in South Korea is biopharmaceuticals. This segment dominates the market due to South Korea's significant advancements in drug development, particularly in monoclonal antibodies (mAbs), gene therapies, and biosimilars. The country is a global leader in the development of innovative cancer treatments and immune-oncology therapies, driven by its strong research and development (R&D) capabilities, government support, and partnerships with multinational pharmaceutical companies. The biopharmaceutical sector continues to experience substantial growth, with a focus on targeted therapies and personalized medicine, further solidifying its dominance within the biotechnology market in South Korea.

Investment Opportunities: Why explore the South Korean biotechnology market with Technavio?

Recent developments in South Korea’s biotechnology market have been driven by significant advancements in biopharmaceutical research and the growing emphasis on immuno-oncology treatments. South Korean biotech companies are making strides in the development of monoclonal antibodies and biosimilars, with a notable focus on creating more affordable alternatives to branded biologics. The country is also leading innovation in gene therapies and personalized medicine, with increasing investments in genomic research and cutting-edge technologies. The South Korean government has been proactive in supporting the biotechnology industry through policy initiatives, including funding for biotech startups and research institutions, enhancing the market's potential to address both domestic and global healthcare needs.

In addition to advancements in therapeutic biotechnology, South Korea is making notable progress in industrial biotechnology applications, particularly in the fields of bioplastics and biofuels. These innovations are aligning with global sustainability trends as companies explore alternative, eco-friendly solutions to reduce reliance on fossil fuels and non-renewable resources. Agricultural biotechnology is also gaining traction, with a focus on enhancing food security and developing genetically modified crops that can withstand environmental challenges. With international collaborations and a robust pipeline of biotech innovations, South Korea is positioning itself as a leader in both therapeutic and industrial biotechnology, further solidifying its competitive edge in the global market.

Market Dynamics: What factors are influencing the biotechnology market in South Korea?

Drivers:
The biotechnology market in South Korea is primarily driven by strong government support, which includes funding for research and development (R&D) and favorable policies to foster innovation. Additionally, the country’s aging population is creating a growing demand for healthcare solutions and biopharmaceuticals, particularly in oncology and genetic therapies. South Korea’s highly educated workforce and advanced infrastructure in biotech research also serve as significant enablers, while the global rise in chronic diseases and genetic disorders further accelerates the need for innovative medical treatments. The market is also driven by increasing demand for personalized medicine, fueled by advancements in genomics and biomarker discovery.

Trends:
Key trends shaping South Korea’s biotechnology market include the integration of artificial intelligence (AI) and machine learning (ML) into drug development, which helps speed up the process of discovering new therapies. The focus on immuno-oncology and the use of monoclonal antibodies to treat various types of cancer continues to rise. Moreover, the development of biosimilars is a growing trend as it offers more affordable alternatives to expensive biologic drugs. Another significant trend is the increasing use of genetic editing and gene therapies, which offer transformative potential for curing genetic diseases. Additionally, sustainability is a rising trend in biotechnology, with growing interest in bioplastics and biofuels as part of the green revolution.

Opportunities:
South Korea’s biotechnology market presents numerous opportunities, especially in the rapidly growing field of biopharmaceuticals. Companies focusing on immuno-oncology, gene therapies, and targeted treatments for chronic diseases have immense potential for growth, given the increasing demand for personalized healthcare solutions. There is also substantial opportunity in industrial biotechnology for bioplastics, biofuels, and environmental solutions, aligning with global sustainability goals. Furthermore, South Korean biotech firms can capitalize on international partnerships and joint ventures with global pharmaceutical companies to expand their reach and access new markets. With continued R&D investments, the country is well-positioned to be a leader in cutting-edge areas such as regenerative medicine and biotechnology for aging populations.

Challenges:
Despite its significant growth, South Korea’s biotechnology market faces several challenges. One of the key hurdles is regulatory complexity, particularly when navigating the approval processes for new drugs and biological therapies, which can be time-consuming and costly. Additionally, fierce competition from other biotechnology powerhouses, such as the United States and China, poses a challenge to South Korea’s firms in maintaining a competitive edge. The high cost of R&D and the need for substantial investment in clinical trials further limit the growth potential for smaller biotech companies. Furthermore, intellectual property (IP) protection remains a concern, as safeguarding innovations in a highly competitive market is critical for long-term success. Finally, global economic uncertainties and the shifting focus of governments and investors toward other sectors may pose risks to future growth.

Investment Questions: Topics to consider when investing in the biotechnology market in South Korea

What is the regulatory environment like in South Korea for biotechnology companies?
Understanding the regulatory landscape is crucial for investors, as approval processes for new drugs and therapies can impact the time to market and profitability. Are there any upcoming regulatory changes that could impact the industry?

What is the company’s pipeline and R&D capability?
Assessing the strength of a company's pipeline, including its stage of drug development and focus areas (e.g., oncology, gene therapies, biosimilars), is essential. How strong are its partnerships with research institutions or global pharmaceutical companies?

How competitive is the biotechnology firm within South Korea and internationally?
Consider the competitive landscape—does the company have a unique product or technology that differentiates it from other biotech firms, both within South Korea and globally?

How strong is the company’s intellectual property (IP) portfolio?
The strength of a company’s IP protection, including patents for its technologies and products, is vital for ensuring competitive advantage and long-term sustainability. Does the company have strong protection for its key innovations?

What are the risks associated with biotechnology investments?
Biotechnology investments carry inherent risks, such as clinical trial failures, regulatory delays, and market acceptance challenges. What strategies does the company have in place to mitigate these risks?

For a detailed analysis of the biotechnology market in South Korea, buy the full report

Technavio Report Insights: How Can Technavio Reports Help Investors Make Better Business Decisions?

Key Features of a Technavio Report: 

• Comprehensive Market Analysis: Provides a detailed overview of the biotechnology market in South Korea, including market size, growth rate, segmentation, and regional analysis. 

• In-Depth Competitive Landscape: Offers insights into the competitive dynamics, market share and positioning, and product offerings of key players. 

• Future Market Trends: Identifies emerging trends and opportunities that can shape the future of the market. 

• Detailed Segmentation: Breaks down the market into various segments to help investors identify specific niches and target markets. 

• Expert Analysis: Provides expert insights and forecasts from industry analysts

FAQ

1. What are the key drivers of growth in South Korea’s biotechnology market?
The key drivers of growth in South Korea's biotechnology market include strong government support, significant R&D investments, and the demand for innovative healthcare solutions due to the aging population. Additionally, advancements in immuno-oncology, gene therapies, and biosimilars are fueling market expansion, alongside the increasing global focus on personalized medicine.

2. How does the South Korean government support the biotechnology industry?
The South Korean government plays a pivotal role in supporting the biotechnology industry through research grants, tax incentives, and the establishment of biotech hubs and biopharma clusters. These initiatives are designed to foster innovation, encourage collaboration between industry and research institutions, and accelerate the commercialization of biotech products.

3. What challenges does the biotechnology industry in South Korea face?
Challenges in the South Korean biotechnology industry include regulatory hurdles, which can delay drug approvals and clinical trials, and the high cost of R&D. There is also intense competition from global biotech players, which can make it difficult for domestic companies to maintain a competitive edge. Intellectual property protection and market acceptance of new treatments are also concerns.

4. How is South Korea’s biotechnology market addressing sustainability?
South Korea is investing heavily in green biotechnology, with a focus on bioplastics, biofuels, and sustainable agriculture. The market is exploring alternative, eco-friendly products that reduce dependency on fossil fuels and minimize environmental impact. Biotechnology companies are also focusing on innovations that can help address climate change and improve food security.

Table of Contents

1 Executive Summary

• 1.1 Market overview
  • Executive Summary - Chart on Market Overview
  • Executive Summary - Data Table on Market Overview
  • Executive Summary - Chart on Global Market Characteristics
  • Executive Summary - Chart on Market by Geography
  • Executive Summary - Chart on Market Segmentation
  • Executive Summary - Chart on Incremental Growth
  • Executive Summary - Data Table on Incremental Growth
  • Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

• 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

• 2.2 Criticality of inputs and factors of differentiation
  • Overview on criticality of inputs and factors of differentiation

• 2.3 Factors of disruption
  • Overview on factors of disruption

• 2.4 Impact of drivers and challenges
  • Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

• 3.1 Market ecosystem
  • Parent Market
  • Data Table on - Parent Market

• 3.2 Market characteristics
  • Market characteristics analysis

• 3.3 Value chain analysis
  • Value chain analysis

4 Market Sizing

• 4.1 Market definition
  • Offerings of companies included in the market definition

• 4.2 Market segment analysis
  • Market segments

• 4.3 Market size 2024

• 4.4 Market outlook: Forecast for 2024-2029
  • Chart on Global Market - Market size and forecast 2024-2029 ($ billion)
  • Data Table on Global Market - Market size and forecast 2024-2029 ($ billion)
  • Chart on Global Market: Year-over-year growth 2024-2029 (%)
  • Data Table on Global Market: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

• 5.1 Global Market 2019 - 2023
  • Historic Market Size - Data Table on Global Market 2019 - 2023 ($ billion)

• 5.2 Segment Analysis 2019 - 2023
  • Historic Market Size – Segment Analysis 2019 - 2023 ($ billion)

• 5.4 Geography segment analysis 2019 - 2023
  • Historic Market Size - Geography Segment 2019 - 2023 ($ billion)

6 Qualitative Analysis

• 6.1 Impact of AI on the Global Market

7 Five Forces Analysis

• 7.1 Five forces summary
  • Five forces analysis - Comparison between 2024 and 2029

• 7.2 Bargaining power of buyers
  • Bargaining power of buyers - Impact of key factors 2024 and 2029

• 7.3 Bargaining power of suppliers
  • Bargaining power of suppliers - Impact of key factors in 2024 and 2029

• 7.4 Threat of new entrants
  • Threat of new entrants - Impact of key factors in 2024 and 2029

• 7.5 Threat of substitutes
  • Threat of substitutes - Impact of key factors in 2024 and 2029

• 7.6 Threat of rivalry
  • Threat of rivalry - Impact of key factors in 2024 and 2029

• 7.7 Market condition
  • Chart on market condition - Five forces 2024 and 2029

8 Market Segmentation

• 8.1 Market segments
  • Chart on Segmentation - Market share 2024-2029 (%)
  • Data Table on Segmentation - Market share 2024-2029 (%)

• 8.2 Segment Comparison
  • Chart on Comparison
  • Data Table on Comparison

• 8.3 Segment Market Opportunity
  • Market opportunity ($ billion)
  • Data Table on Market Opportunity ($ billion)

9 Customer Landscape

• 9.1 Customer landscape overview
  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Geographic Landscape

• 10.1 Geographic segmentation
  • Chart on market share by geography 2024-2029 (%)
  • Data Table on market share by geography 2024-2029 (%)

• 10.2 Geographic comparison
  • Chart on Geographic comparison
  • Data Table on Geographic comparison

• 10.3 Market opportunity by geography
  • Market opportunity by geography ($ billion)
  • Data Tables on Market opportunity by geography ($ billion)

11 Drivers, Challenges, and Opportunity/Restraints

• 11.1 Market drivers

• 11.2 Market challenges

• 11.3 Impact of drivers and challenges
  • Impact of drivers and challenges in 2024 and 2029

• 11.4 Market opportunities/restraints

12 Competitive Landscape

• 12.1 Overview

• 12.2 Competitive Landscape
  • Overview on criticality of inputs and factors of differentiation

• 12.3 Landscape disruption
  • Overview on factors of disruption

• 12.4 Industry risks
  • Impact of key risks on business

13 Competitive Analysis

• 13.1 Companies profiled
  • Companies covered

• 13.2 Company ranking index
  • Company ranking index

• 13.3 Market positioning of companies
  • Matrix on companies position and classification

14 Appendix

• 14.1 Scope of the report

• 14.2 Inclusions and exclusions checklist
  • Inclusions checklist
  • Exclusions checklist

• 14.3 Currency conversion rates for US$
  • Currency conversion rates for US$

• 14.4 Research methodology
  • Research methodology

• 14.5 Data procurement
  • Information sources

• 14.6 Data validation
  • Data validation

• 14.7 Validation techniques employed for market sizing
  • Validation techniques employed for market sizing

• 14.8 Data synthesis
  • Data synthesis

• 14.9 360 degree market analysis
  • 360 degree market analysis

• 14.10 List of abbreviations
  • List of abbreviations