South Korea's oncology clinical trials market is projected to grow from $184.8 Mn in 2022 to $305.9 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022-30. The market will be driven by the country's well-established infrastructure, advanced medical facilities, and streamlined regulatory processes. The market is segmented by phase, study design, and indication. Some of the major players include Pfizer Inc., Roche Holding AG & SK Biopharmaceuticals.
The South Korea Oncology Clinical Trials Market is projected to grow from $184.8 Mn in 2022 to $305.9 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022-30. South Korea had 799 registered clinical studies for medicinal treatments in 2020, 432 of which were regional trials and the rest were international trials. During the previous year, the number of both regional and international trials increased. In 2022, Korea is anticipated to have 274,488 new cancer cases and 81,277 cancer deaths. The thyroid was predicted to be the most prevalent cancer location, followed by the lung, colon and rectum, breast, and stomach. These five malignancies were predicted to account for half of the total cancer burden in Korea. Lung cancer was predicted to be the most prevalent cause of death, followed by liver, colorectal, pancreatic, and gallbladder cancers.
South Korea is a fast-expanding nation that has achieved substantial advances in medical research, particularly clinical trials for cancer. The country has several hospitals and research organizations such as National Cancer Center, Seoul National University Hospital, Samsung Medical Center & Korea Cancer Center which highly qualified medical workers make it an appealing location for clinical trials. The efficiency with which oncology clinical trials may be performed in South Korea is one of their most prominent features. The nation has a simplified regulatory framework that enables clinical studies to be approved more quickly, and it also has a huge pool of patients ready to participate in these trials. South Korea is a great place for conducting oncology clinical trials due to its well-developed infrastructure, quick regulatory procedure, and highly competent medical staff. As a result, the nation is anticipated to continue to play a prominent role in worldwide research and development of novel cancer therapies.
Market Growth Drivers
The country's well-established infrastructure and excellent medical facilities, which offer a great setting for conducting clinical trials, are significant development drivers. Moreover, the nation boasts highly competent medical personnel, including experienced oncologists and clinical researchers. Another important growth driver for oncology clinical trials in South Korea is the country's simplified regulatory procedure, which enables for clinical studies to be approved more quickly. This regulatory climate has made it simpler for foreign pharmaceutical corporations to perform clinical trials in the country, leading to a rise in the number of studies. South Korea also has a big number of patients eager to take part in clinical studies. The nation has a strong medical research culture, and patients are typically eager to contribute to the development of novel cancer cures and therapeutics.
In South Korea, there are also certain limitations to the oncology clinical trials market expansion. Competition from other nations, such as China and India, who are also quickly increasing their medical research infrastructure and regulatory systems, is one of the most significant ones. Moreover, due to the country's tiny population and restricted geographic region, it may be difficult to recruit enough individuals for some kinds of clinical studies. Lastly, some people are concerned about the possibility of conflicts of interest between researchers and pharmaceutical corporations that fund clinical studies.
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)
188.8.131.52 Product Applications and Services
184.108.40.206 Recent Developments
220.127.116.11 Partnerships Ecosystem
18.104.22.168 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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