Korea's bio-health industry is expected to rank 8th in the world in 2030...Korea Health Industry Promotion Agency publishes 2025 global bio-health industry market size
Apr 25, 2025
It is predicted that the size of Korea's bio-health industry market will rank 8th in the world by 2030.
As of February this year, the Korea Health Industry Promotion Agency published the "2025 Global BioHealth Industry Market Size (2019-2030)", which summarizes the size of the global market. This is a summary of the market size of about 212 countries for the biohealth industry, including the medical service industry, in the biohealth manufacturing industry such as pharmaceuticals, medical devices, and cosmetics.
According to the Korea Development Institute, the global bio-health industry market size was $13.538.1 trillion in 2023, recording an average annual growth of 5.4% over the past five years (2019-2023), and it is expected to expand to $19.4268 trillion by 2030 and increase by 5.3% annually.
By industry, the pharmaceutical industry was $1.7487 trillion in 2023, the medical device industry was $529.1 billion, the cosmetics industry was $496.4 billion, and the medical service industry was $10.7639 trillion.
By continent, North America accounted for the largest bio-health market in 2023 with $6.198 trillion (45.7%), followed by Europe with $3.332.6 trillion, Asia and Pacific with $2.906.2 trillion, Latin America with $671.3 billion, and Middle East and Africa with $437.2 billion.
By country, the U.S. topped the global market with $5.89 trillion in 2023, followed by China with $1.3 trillion, Germany with 690.3 billion, Japan with 615.9 billion, and France with $441.3 billion.
As of 2023, Korea's bio-health industry market was $215.9 billion, accounting for 1.6% of the global market, ranking 11th. By industry, the pharmaceutical industry was $24.1 billion (13th in the world), the medical device industry was $7.3 billion (12th in the world), the cosmetics industry was $12.2 billion (10th in the world), and the medical service industry was $172.3 billion (11th in the world).
The Korea Development Institute predicted that the size of Korea's bio-health industry market, which grew 5.7% annually from 2019 to 2023, will grow 8.7% every year to reach USD 370.3 billion by 2030. As of 2030, it ranks eighth in the world after the U.S. (US$8.176.7 trillion), China (US$1.8725 trillion), and Japan (US$1.556 trillion).
Lee Byung-kwan, Director of BioHealth Innovation Planning at the Korea Health Industry Promotion Agency, said, `With the importance of policies to strengthen export competitiveness and advance into emerging markets in line with the rapidly changing international trade environment, this data is expected to increase prediction accuracy by expanding the scope of data in the countries that are included, so that the government and businesses can contribute to strategic decision-making" he said.
As of February this year, the Korea Health Industry Promotion Agency published the "2025 Global BioHealth Industry Market Size (2019-2030)", which summarizes the size of the global market. This is a summary of the market size of about 212 countries for the biohealth industry, including the medical service industry, in the biohealth manufacturing industry such as pharmaceuticals, medical devices, and cosmetics.
According to the Korea Development Institute, the global bio-health industry market size was $13.538.1 trillion in 2023, recording an average annual growth of 5.4% over the past five years (2019-2023), and it is expected to expand to $19.4268 trillion by 2030 and increase by 5.3% annually.
By industry, the pharmaceutical industry was $1.7487 trillion in 2023, the medical device industry was $529.1 billion, the cosmetics industry was $496.4 billion, and the medical service industry was $10.7639 trillion.
By continent, North America accounted for the largest bio-health market in 2023 with $6.198 trillion (45.7%), followed by Europe with $3.332.6 trillion, Asia and Pacific with $2.906.2 trillion, Latin America with $671.3 billion, and Middle East and Africa with $437.2 billion.
By country, the U.S. topped the global market with $5.89 trillion in 2023, followed by China with $1.3 trillion, Germany with 690.3 billion, Japan with 615.9 billion, and France with $441.3 billion.
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The Korea Development Institute predicted that the size of Korea's bio-health industry market, which grew 5.7% annually from 2019 to 2023, will grow 8.7% every year to reach USD 370.3 billion by 2030. As of 2030, it ranks eighth in the world after the U.S. (US$8.176.7 trillion), China (US$1.8725 trillion), and Japan (US$1.556 trillion).
Lee Byung-kwan, Director of BioHealth Innovation Planning at the Korea Health Industry Promotion Agency, said, `With the importance of policies to strengthen export competitiveness and advance into emerging markets in line with the rapidly changing international trade environment, this data is expected to increase prediction accuracy by expanding the scope of data in the countries that are included, so that the government and businesses can contribute to strategic decision-making" he said.
This article was translated by Naver AI translator.
