South Korea Cancer Pain Management Market Analysis

South Korea Cancer Pain Management Market Analysis

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South Korea's Cancer Pain Management market is projected to grow from $95.27 Mn in 2022 to $155.31 Mn by 2030, registering a CAGR of 6.3% during the forecast period of 2022-30. The main factors driving the growth would be technological and pharmaceutical advancements, increasing awareness, and government support. The market is segmented by drug type and by disease. Some of the major players include Hanmi Pharmaceutical (KOR), Pfizer, Teva Pharmaceuticals, Abbott, and Sanofi.

ID: IN10KRHS002 CATEGORY: Healthcare Services GEOGRAPHY: South Korea AUTHOR: Neha Davda

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South Korea Cancer Pain Management Market Executive Summary

South Korea's Cancer Pain Management market is projected to grow from $95.27 Mn in 2022 to $155.31 Mn by 2030, registering a CAGR of 6.3% during the forecast period of 2022-30. In 2019, South Korea's national health expenditures as a share of GDP reached 8.16%, amounting to $2,624.53 per person. Even while healthcare spending has been steadily rising over the years, it remains below the OECD average.

Cancer has been associated with a number of well-known acute and chronic pain disorders. The complicated and sometimes fatal illness known as cancer results in gene changes impacting vital cell-regulatory proteins. These modifications promote abnormal cell behavior, which in turn leads to unrestrained cell growth and the subsequent destruction of nearby normal tissues. These tumors impose pressure on the body and produce discomfort by pressing on bones, nerves, and other parts of the body. Especially in more advanced phases of the illness, cancer discomfort can also be experienced while receiving aggressive cancer therapy. In Korea, 81,277 cancer deaths and 274,488 new cancer cases were projected to occur in 2022. The thyroid is predicted to be the most prevalent location for cancer in South Korea, followed by the lung, colon and rectum, breast, and stomach.

south korea cancer pain management market

Market Dynamics

Market Growth Drivers

The development of Innovative and more efficient pain management therapies for cancer patients as a result of technological and pharmaceutical advancements and government support are driving the growth of the cancer pain management market in South Korea. Moreover, the industry is expanding in part because more people are becoming aware of the value of pain management for cancer patients.

Market Restraints

The development of cancer pain management in South Korea is expected to be constrained by the adverse side effects of opioids and competition between branded medications and less-priced generic medications.

Competitive Landscape

Key Players

  • Hanmi Pharmaceutical (KOR)
  • Pfizer
  • Teva Pharmaceuticals
  • Abbott
  • Sanofi

Healthcare Policies and Regulatory Landscape

The Ministry of Food and Drug Safety is in charge of overseeing the approval and distribution of medications in South Korea, particularly those used to treat cancer pain. The construction of specialized palliative care centers and the inclusion of palliative care in the national health insurance program are initiatives that the Korean government has put in place to increase access to pain management treatments for cancer patients. To guarantee that patients receive secure and efficient pain relief, there are additional rules for the proper use of potent analgesics like opioids.

Reimbursement Scenario

The National Health Insurance (NHI) program in South Korea offers reimbursement for specific cancer painkillers. The medication must be safe, effective, and cost-effective in order to qualify for reimbursement, as determined by the Ministry of Food and Drug Safety (MFDS). The NHI sets the amount of a drug's reimbursement based on the drug's classification and the price agreed upon with the manufacturer.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cancer Pain Management Market Segmentation

By Drug Type (Revenue, USD Billion):

Non-steroidal anti-inflammatory medicines relieve pain at the site of injury by blocking the cyclooxygenase enzyme, which prevents prostaglandin formation. NSAIDs are a class of medications that includes medications with analgesic, antipyretic, and, at higher doses, anti-inflammatory properties.

  • Opioids
  • Morphine
    • Fentanyl
    • Others
  • Non-Opioids
  • Acetaminophen
  • Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
  • Nerve Blockers

By Disease Indication (Revenue, USD Billion):

Based on disease Indication the market is segmented into:

  • Lung Cancer
  • Colorectal cancer
  • Breast cancer
  • Prostate cancer
  • Blood cancer
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


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Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

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The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.



Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 13 October 2023

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