South Korea Microbial Fermentation APIs Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.7 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
South Korea's Microbial Fermentation APIs Market: Applications and Industry Requirements
South Korea's microbial fermentation Active Pharmaceutical Ingredients (APIs) market is experiencing significant growth, driven by advancements in biotechnology and increasing demand across various industries. In 2023, the market generated a revenue of USD 875.3 million and is projected to reach USD 1,476.9 million by 2030, reflecting a compound annual growth rate (CAGR) of 7.8% from 2024 to 2030.
Key Applications of Microbial Fermentation APIs:
Biopharmaceuticals: Microbial fermentation is pivotal in producing biopharmaceuticals, including antibiotics, hormones, and monoclonal antibodies. South Korean biopharmaceutical companies are leveraging this technology to develop innovative therapies.
Contract Manufacturing Organizations (CMOs) & Contract Development and Manufacturing Organizations (CDMOs): These entities utilize microbial fermentation for large-scale production of APIs, catering to both domestic and international pharmaceutical firms. Notably, CMOs & CDMOs represented the largest revenue-generating end-use segment in 2023.
Academic and Research Institutions: Universities and research centers employ microbial fermentation in drug discovery and development, contributing to the pipeline of novel therapeutics.
Industry Requirements and Trends:
Advanced Bioprocessing Equipment: The demand for sophisticated bioreactors and fermenters is escalating. In 2023, bioreactors/fermenters emerged as the largest revenue-generating product segment, underscoring the need for efficient upstream bioprocessing solutions.
Quality and Compliance: Stringent regulatory standards necessitate robust quality control measures. Companies are investing in state-of-the-art facilities to ensure compliance with Good Manufacturing Practices (GMP).
Skilled Workforce: The complexity of microbial fermentation processes requires a highly skilled workforce. Educational institutions are expanding programs to equip professionals with necessary expertise.
Innovation and Sustainability: There's a growing emphasis on developing sustainable fermentation processes. Companies are exploring renewable feedstocks and eco-friendly practices to minimize environmental impact.
South Korea's commitment to biotechnology innovation, coupled with supportive government policies, positions its microbial fermentation APIs market for robust growth. The synergy between industry players and research institutions is fostering a dynamic ecosystem, poised to meet global pharmaceutical demands.
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Merck
Ajinomoto
HGPF
Huaxing
North China Pharmaceutical
Topfond
DSM
Tianyao
CSPC Pharma
Northeast Pharm
Lukang Pharmaceutical
Luwei Pharmaceutical
Jiangshan (DSM)
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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 Microbial Fermentation APIs Market
Batch Fermentation
Continuous Fermentation
Fed-Batch Fermentation
Bacteria
Yeast
Fungi
Food and Beverages
Pharmaceuticals
Animal Feed
Cosmetics
Biotechnology
Amino Acids
Enzymes
Vitamins
Organic Acids
Alcohols
Small Scale
Medium Scale
Large Scale
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Microbial Fermentation APIs 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 Microbial Fermentation APIs Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Microbial Fermentation APIs Market, By Type
6. South Korea Microbial Fermentation APIs Market, By Application
7. South Korea Microbial Fermentation APIs Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Microbial Fermentation APIs Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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