South Korea Genetic Testing for Safe Medication Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.2 Billion by 2030, growing at a CAGR of 11.2% from 2024 to 2030.
In South Korea, the integration of genetic testing into medication safety protocols is gaining momentum, driven by advancements in pharmacogenomics and a growing emphasis on personalized healthcare. The "Genetic Testing for Safe Medication Market" is poised for significant expansion, reflecting the nation's commitment to enhancing therapeutic efficacy and minimizing adverse drug reactions.
Pharmacogenomics—the study of how genes affect an individual's response to drugs—has become a cornerstone in developing personalized medicine strategies. In South Korea, this field has seen substantial growth, with the pharmacogenomics technology market generating revenues of USD 201.7 million in 2024 and projected to reach USD 442.5 million by 2030, growing at a compound annual growth rate (CAGR) of 13.8%. Notably, oncology remains the largest therapeutic area, while cardiovascular diseases are anticipated to experience the fastest growth during this period.
Direct-to-consumer genetic testing (DTC-GT) services have also emerged, allowing individuals to access information about their genetic predispositions without intermediary healthcare providers. Introduced in South Korea in 2016 under the Bioethics and Safety Act, DTC-GT initially permitted testing for 12 items involving 46 genes. By November 2020, this scope expanded to 70 approved items. Despite this growth, DTC-GT services in South Korea are predominantly confined to wellness-related information, with disease risk assessments remaining under the purview of medical institutions.
Consumer interest in DTC-GT is robust. A 2016 survey involving 1,200 respondents revealed a preference for affordable tests that cover a broad range of genes, offer high accuracy, and ensure confidentiality. However, the same study highlighted concerns regarding the limited number of genes tested, questions about test accuracy, and potential vulnerabilities in data protection.
Industries aiming to leverage genetic testing for medication safety must navigate several critical requirements. First, expanding the range of testable genes is essential to meet consumer demand and provide comprehensive insights into drug responses. Second, ensuring the analytical and clinical validity of tests is paramount to maintain trust and efficacy. Third, robust data protection measures are necessary to safeguard sensitive genetic information, addressing consumer concerns about privacy and potential misuse.
Moreover, integrating genetic testing into clinical practice requires collaboration between genetic testing companies, healthcare providers, and regulatory bodies. Establishing clear guidelines and standards will facilitate the seamless incorporation of pharmacogenomic data into prescribing practices, ultimately enhancing patient outcomes.
As South Korea continues to advance in personalized medicine, the "Genetic Testing for Safe Medication Market" presents substantial opportunities. By addressing current limitations and aligning with industry requirements, stakeholders can drive innovation and improve healthcare delivery, ensuring that patients receive medications tailored to their genetic profiles.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Genetic Testing for Safe Medication Market
Polymerase Chain Reaction (PCR)
Next-Generation Sequencing (NGS)
Sanger Sequencing
Microarray Technology
Pharmacogenetic Testing
Whole Genome Sequencing
Targeted Gene Panels
Exome Sequencing
Carrier Testing
Oncology
Cardiovascular Diseases
Neurological Disorders
Infectious Diseases
Chronic Diseases
Hospitals
Clinical Laboratories
Pharmaceutical Companies
Research Institutions
Medical Device Manufacturers
Blood Samples
Saliva Samples
Biopsy Samples
Urine Samples
Hair Samples
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Genetic Testing for Safe Medication Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Genetic Testing for Safe Medication Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Genetic Testing for Safe Medication Market, By Type
6. South Korea Genetic Testing for Safe Medication Market, By Application
7. South Korea Genetic Testing for Safe Medication Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Genetic Testing for Safe Medication Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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