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Emerging Markets Series - The Pharmaceutical Market of South Korea (Datamonitor)
- Market: Healthcare and Medical
- Published Date: 16/10/2008
- Report Title: Emerging Markets Series - The Pharmaceutical Market of South Korea
- Table of Contents: View Table of Contents
- Report Type: Market Report
- Country: South Korea
- Number of Pages: 104
Introduction
Rapid economic growth on the back of a strong export drive has contributed to making South Korea one of the largest markets in Asia, after Japan, China and India. The country's pharmaceutical market is beginning to open up to multinationals, a trend set to gather momentum as regulatory and IP changes take hold, potentially putting the domestic industry under threat.
Scope
*An economic, social, political and demographic overview of South Korea, and likely changes to the current market climate.
*An overview South Korea's healthcare system, providing an outline of its establishment, funding and outlook.
*An overview of disease prevalence in South Korea, and how this translates into pharmaceutical use.
*An insight into the major companies operating in South Korea, and how this will change in the future.
Highlights
South Korea's large, growing pharmaceutical market is due to undergo major change as a result of a Free Trade agreement signed with the US. The formerly domestic generics-dominated market could be flooded with more expensive imports, a welcome outcome for multinationals who have historically found South Korea to be a difficult market to penetrate.
Healthcare spend in South Korea has thus far been low, due in part to the large out-of-pocket contribution required from the patient, which limits demand. The increasingly elderly nature of the population going forward however, will push expenditure up, with the result that public spending is set to grow.
Due to South Korea's rapid industrialization, the incidence of acute communicable disease has fallen in counterpoint to the rise in non-communicable disease, with the result that cardiovascular disease is one of the leading causes of death, and half of the top 10 retail drugs in South Korea fall into this class.
Reasons to Purchase
*Understand how South Korea has become one of the largest markets in Asia, and why it is increasingly a target for multinationals.
*Gain an insight into how healthcare in the country works, and how it is likely to change in the future.
*Identify who the key player are, and how market changes are likely to impact on them.
Rapid economic growth on the back of a strong export drive has contributed to making South Korea one of the largest markets in Asia, after Japan, China and India. The country's pharmaceutical market is beginning to open up to multinationals, a trend set to gather momentum as regulatory and IP changes take hold, potentially putting the domestic industry under threat.
Scope
*An economic, social, political and demographic overview of South Korea, and likely changes to the current market climate.
*An overview South Korea's healthcare system, providing an outline of its establishment, funding and outlook.
*An overview of disease prevalence in South Korea, and how this translates into pharmaceutical use.
*An insight into the major companies operating in South Korea, and how this will change in the future.
Highlights
South Korea's large, growing pharmaceutical market is due to undergo major change as a result of a Free Trade agreement signed with the US. The formerly domestic generics-dominated market could be flooded with more expensive imports, a welcome outcome for multinationals who have historically found South Korea to be a difficult market to penetrate.
Healthcare spend in South Korea has thus far been low, due in part to the large out-of-pocket contribution required from the patient, which limits demand. The increasingly elderly nature of the population going forward however, will push expenditure up, with the result that public spending is set to grow.
Due to South Korea's rapid industrialization, the incidence of acute communicable disease has fallen in counterpoint to the rise in non-communicable disease, with the result that cardiovascular disease is one of the leading causes of death, and half of the top 10 retail drugs in South Korea fall into this class.
Reasons to Purchase
*Understand how South Korea has become one of the largest markets in Asia, and why it is increasingly a target for multinationals.
*Gain an insight into how healthcare in the country works, and how it is likely to change in the future.
*Identify who the key player are, and how market changes are likely to impact on them.
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