The South Korea Neurology Clinical Trials market is projected to grow from $76.4 Mn in 2022 to $126.5 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022 - 2030. The market will be driven by the supportive regulatory environment and increasing interest from pharmaceutical companies investing in neurology clinical trials. The market is segmented by phase, by study design & by indication. Some of the major players include Hoffmann-La Roche, Biogen & Chong Kun Dang Pharmaceutical.
The South Korea Neurology Clinical Trials market is projected to grow from $76.4 Mn in 2022 to $126.5 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022 - 2030. In 2020, South Korea had 799 authorised clinical trials for drug treatments, 432 of which were local trials and the remainder were global. The number of both local and global trials grew over the previous year. Korea is one of the world's fastest ageing nations, and the rising incidence of dementia will place a significant strain on Korean society. For example, by 2050, the old-age dependency ratio is expected to rise from 20% to about 70%.
Alzheimer's disease is an increasing problem around the globe, including in South Korea. Numerous South Korean research institutions and pharmaceutical businesses are now focusing on creating novel Alzheimer's disease therapies. Patients with mild cognitive impairment, early-stage Alzheimer's disease, or mild to moderate Alzheimer's disease may be included in clinical trials for novel Alzheimer's medications. Moreover, In South Korea, several clinical trials are ongoing to investigate new therapies for Parkinson's disease, such as deep brain stimulation, gene therapy, and stem cell therapy. Seoul National University, Asan Medical Center, Samsung Medical Center, and Yonsei University Severance are four of the top ten worldwide clinical investigator sites. The country's combination of clinical trial competence, superior healthcare infrastructure, large population concentration, and a very receptive, investment-minded administration has propelled the country to the forefront of clinical trial venues globally.
Market Growth Drivers
South Korea boasts a comprehensive medical system that is outfitted with cutting-edge equipment and facilities. This infrastructure facilitates clinical trial conduct by giving access to specialised equipment and medical staff. South Korea has a huge number of qualified medical workers, including physicians, nurses, and researchers who have received clinical trial training. South Korea's regulatory procedure is streamlined, fast, and transparent, making it an appealing place for conducting clinical trials. The South Korean government has aggressively promoted the expansion of clinical trials in the nation. The Ministry of Food and Drug Safety has built a framework to promote the research and approval of novel pharmaceuticals and medical devices. Pharmaceutical firms are highly keen on carrying out clinical trials in South Korea. The country's superior medical infrastructure, qualified workforce, and supportive regulatory framework are driving this interest.
South Korea has a population of about 51 million people, which is very little compared to other nations. This restricted patient pool may make recruiting enough participants for clinical trials difficult, especially for uncommon or complicated neurological illnesses. Although much medical personnel in South Korea know English, some patients may choose to participate in clinical studies performed in their native language. This may reduce the number of people who are eligible to participate in clinical studies. Other nations in the area, like China and Japan, are also substantially investing in clinical research. South Korea may find it difficult to recruit clinical trials and investment as a result of this competition. Although the regulatory climate in South Korea is typically supportive of clinical trials, regulatory hurdles may nevertheless impede the clearance process. Although the South Korean government supports clinical research, financing for clinical trials remains low, especially for uncommon disorders. This may make it difficult for researchers to undertake the studies required to bring novel therapies to market.
January 2023, Daewoong Pharmaceutical Co., a renowned South Korean pharmaceutical, announced a collaboration agreement with Oncorus Inc., a biotech business based in the United States, to develop and commercialise messenger RNA (mRNA) therapeutics for cancer patients.
August 2021, Novartis announced the termination of a partial clinical trial hold and the launch of a new pivotal Phase 3 investigation of intrathecal OAV-101 in elderly SMA patients.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation 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)
22.214.171.124 Product Applications and Services
126.96.36.199 Recent Developments
188.8.131.52 Partnerships Ecosystem
184.108.40.206 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
6. Methodology and Scope
By Phase (Revenue, USD Billion):
By Study Design Outlook (Revenue, USD Billion):
By Indication Outlook (Revenue, USD Billion):
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