South Korea Infectious Disease Therapeutics Market Analysis

South Korea Infectious Disease Therapeutics Market Analysis


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By 2030, it is anticipated that the South Korean infectious disease therapeutics market will reach a value of $2.66 Bn from $1.75 Bn in 2022, growing at a CAGR of 5.4% during 2022-2030. Infectious Disease Therapeutics in South Korea is dominated by a few domestic pharmaceutical companies such as Green Cross Corporation, SK Bioscience and GC Pharma. The Infectious Disease Therapeutics market in South Korea is segmented into different therapeutic areas and different diseases type. The major factors affecting the South Korean infectious disease therapeutics market are the increasing disease burden of communicable diseases like TB, hepatitis, and COVID-19 and the amount of healthcare funding for infectious disease treatment in various areas of South Korea.

ID: IN10KRPH038 CATEGORY: Pharmaceuticals GEOGRAPHY: South Korea AUTHOR: Dr. Vishwa Modhia

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South Korea Infectious Disease Therapeutics Analysis Summary

By 2030, it is anticipated that the South Korean infectious disease therapeutics market will reach a value of $2.66 Bn from $1.75 Bn in 2022, growing at a CAGR of 5.4% during 2022-2030.

South Korea is a high-income, developed country in Eastern Asia occupying the southern half of the Korean Peninsula. Infectious diseases are a major public health concern in South Korea, with diseases such as tuberculosis, hepatitis, and COVID-19 affecting a part of the population. The South Korean government has established a variety of programmes and regulations to promote access to infectious disease treatment, including free treatment for specific infectious diseases such as tuberculosis. In terms of pharmaceutical consumption, South Korea has a sizable and expanding pharmaceutical market.

According to a 2020 estimate, the South Korean pharmaceutical market was valued at over $20.2 Bn in 2020, with medications for infectious diseases being one of the most important therapeutic categories. Many medications used to treat infectious disorders, including antivirals and antibiotics, are available in generic form in South Korea. South Korea's government spends 8.4 % of its GDP on healthcare.

South Korea Infectious Disease Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers Analysis

South Korea has seen several advances in infectious illness therapies in recent years. For example, with the release of new medications such as sofosbuvir and ledipasvir, the country has achieved great progress in the treatment of hepatitis C. South Korea has also been attempting to develop new diagnostic tools for infectious diseases, such as a COVID-19 quick diagnostic test. South Korea, being a developed country, has high private and state R&D spending, as well as a diverse industrial base. These aspects could boost the South Korean infectious disease therapeutics market.

Market Restraints

Developing new pharmaceuticals and treatments necessitates adherence to regulatory rules established by agencies such as South Korea's Ministry of Food and Drug Safety (MFDS). These requirements can be complicated and time-consuming, resulting in delays and higher expenses. South Korea has a great track record of enforcing intellectual property laws, although international enterprises may face difficulties in enforcing patents and other intellectual property rights. South Korea has a high youth unemployment rate, and the country's proximity to North Korea makes doing business challenging. These factors may deter new entrants into the South Korean infectious disease therapeutics market.

Competitive Landscape

Key Players

  • Green Cross Corporation - Green Cross is a Korean biopharmaceutical company that develops and manufactures vaccines and therapeutics for infectious diseases such as influenza, hepatitis B, and COVID-19
  • SK Bioscience - SK Bioscience is a Korean biopharmaceutical company that develops and produces vaccines and biologics for infectious diseases such as pneumonia, hepatitis B, and COVID-19
  • GC Pharma - GC Pharma is a Korean biopharmaceutical company that develops and manufactures a range of therapeutics, including treatments for infectious diseases such as HIV/AIDS, hepatitis B and C, and influenza. The company has also been involved in the production of diagnostic tests and other medical products
  • Korea Research Institute of Chemical Technology (KRICT)
  • Vaxcell-Bio Therapeutics

Recent Notable Updates

January 2023: SK Bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure around the world, introduced a new global partnership model at the Riyadh Global Medical Biotechnology Summit 2023 (RGBMS 2023) in the Kingdom of Saudi Arabia (KSA) as the first and only Korean biopharmaceutical company participating in the session.

February 2022: Curevo Vaccine (Curevo), a privately held clinical-stage biotechnology business dedicated to lowering the burden of infectious disease via the development of safe and highly effective vaccinations, announced the completion of a $60 Mn Series A fundraising transaction today. Janus Henderson Investors, EN Investment, and GC Pharma, a South Korean biopharmaceutical business focusing on the research and commercialization of vaccines, protein treatments, and therapeutic antibodies, were among the other investors.

Healthcare Policies and Reimbursement Scenarios

The Ministry of Food and Drug Safety regulates infectious illness medicines in South Korea (MFDS). The MFDS oversees assessing the safety, efficacy, and quality of all medications and medical devices, including those used to treat infectious diseases. South Korea has a national health insurance system that covers most of the population in terms of reimbursement. The National Health Insurance Service (NHIS) is in charge of handling the national health insurance programme, which covers a variety of healthcare services, including pharmaceuticals and infectious disease treatments.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 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
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

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

6. Methodology and Scope

Infectious Disease Therapeutics Segmentation

By Mode of Treatment (Revenue, USD Billion):

  • Vaccines
  • Drugs

By Applications (Revenue, USD Billion):

  • HIV/AIDS
  • Influenza
  • Hepatitis
  • Malaria
  • Tuberculosis
  • Others

By Disease Type (Revenue, USD Billion):

  • Viral Diseases
  • Bacterial Diseases
  • Fungal Diseases
  • Parasitic Diseases
  • Others

By Target Organism (Revenue, USD Billion):

  • Antibiotics
  • Antivirals
  • Antifungals
  • Anti-Parasitic
  • Others

By End User (Revenue, USD Billion):

  • Hospitals and Clinics
  • Ambulatory Care Centers
  • 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”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

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.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

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
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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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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By 2030, it is anticipated that the South Korean infectious disease therapeutics market will reach a value of $2.66 Bn from $1.75 Bn in 2022, growing at a CAGR of 5.4% during 2022-2030.

The Ministry of Food and Drug Safety regulates infectious illness medicines in South Korea (MFDS). The National Health Insurance Service (NHIS) is in charge of handling the national health insurance programme.

Infectious Disease Therapeutics in South Korea is dominated by domestic pharmaceutical companies such as Green Cross Corporation, SK Bioscience and GC Pharma.


This report addresses

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  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 13 March 2023
Updated by: Dhruv Joshi

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