South Korea Pharmaceutical Market Outlook 2013

  • May 2013
  • -
  • GBI Research
  • -
  • 67 pages

South Korea Pharmaceutical Market Outlook 2013

Summary

GBI Research’s new report, “South Korea Pharmaceutical Market Outlook 2013” provides in-depth analysis of the trends, issues and challenges facing the South Korean pharmaceutical market. The report also provides competitive benchmarking for the country’s leading pharmaceutical companies and analyzes the M&A (Mergers and Acquisitions) and strategic partnerships that shape its pharmaceutical industry. It is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

The South Korean pharmaceutical market is the 10th largest pharmaceutical market, globally. The industry is highly fragmented, with almost all the domestic pharmaceutical companies having a strong portfolio of generic products rather than expensive, branded drugs. For the entire pharmaceutical industry, an increase in insurance coverage, an ageing population and favorable government initiatives are expected to drive future growth in the pharmaceutical industry.

Improved Intellectual Property Rights (IPR), changing demographics, and government support have contributed towards making the South Korean pharmaceutical industry attractive for multinational companies. The South Korean government has signed Free Trade Agreements (FTA) with the US, Europe and India that are aimed at improving the IPR framework in the country and making the pharmaceutical industry more attractive for foreign investment. The immediate effects of the FTA may not be positive in all respects for the generics-dominated domestic pharmaceutical industry. However, it is ultimately expected to bolster the South Korean pharmaceutical industry by increasing transparency in government policies and enforcement, and price competition in the private sector.

Scope

- The macroeconomic environment of the pharmaceutical industry in South Korea, covering demographic analysis, trends, drivers and barriers
- Important industry characteristics, including the regulatory authorities, drug pricing, spending, insurance and reimbursement
- Market analysis of segments such as prescription medicines, biotechnology and over-the-counter medicines
- Competitive profiling of major domestic and international companies operating in the South Korea pharmaceutical market
- Analyses of the licensing, partnership and M&A deals that took place between 2007 and 2012

Reasons to buy

- Develop market-entry and market-expansion strategies by identifying the leading segments poised for strong growth
- Devise a more specifically-tailored country strategy through understanding the key drivers and barriers for the pharmaceutical market
- Develop key strategic initiatives by understanding leading companies’ key focus areas
- Accelerate and strengthen your market position by identifying key companies for M&As and strategic partnerships

Table Of Contents

1 Table of Contents
1 Table of Contents 5
1.1 List of Tables 7
1.2 List of Figures 8
2 Introduction 9
3 South Korea Pharmaceutical Market Outlook 2013 - Overview 10
3.1 Global Pharmaceutical Industry Landscape 10
3.2 Macroscopic View of the South Korea Pharmaceutical Market 10
3.3 Trade Balance 12
3.3.1 Exports 13
3.3.2 Imports 16
3.4 Demographic Analysis 18
3.4.1 Population Size, Growth, and Structure 18
3.4.2 Crude Death Rate 19
3.4.3 Causes of Death 20
3.4.4 Crude Birth Rate 22
3.4.5 Infant Mortality Rate 23
3.4.6 Life Expectancy at Birth 24
3.4.7 Comparison of Healthcare Indicators 25
3.5 Driver and Barriers of South Korean Pharmaceutical Industry 26
3.5.1 Drivers 26
3.5.2 Barriers 28
4 South Korea Pharmaceutical Market Outlook 2013 - Industry Characteristics 29
4.1 Regulatory Agencies 29
4.1.1 Korea Food and Drug Administration 29
4.1.2 National Institute of Food and Drug Safety Evaluation 30
4.2 Drug Pricing Policy 31
4.3 Healthcare Expenditure in South Korea 32
4.4 Healthcare Infrastructure 37
4.5 Insurance and Reimbursement 38
4.5.1 National Health Insurance 38
4.5.2 Long-term Care Insurance 39
4.5.3 Medical Aid 40
5 South Korea Pharmaceutical Market Outlook 2013 - Market Analysis 41
5.1 Over-the-Counter drugs 41
5.2 Prescription Drugs 42
5.2.1 Patented Drugs 43
5.2.2 Generics 44
5.3 Biotechnology 45
6 South Korea Pharmaceutical Market Outlook 2013 - Key Trends 48
6.1 Rapid Consolidations in the Domestic Market 48
6.1.1 MandA deals 48
6.1.2 Partnership Deals 50
6.1.3 Licensing Deals 51
6.2 Understanding Local Markets to Build RandD 52
6.3 Free Trade Agreements 53
6.3.1 Intellectual Property Rights Protection 54
6.3.2 Transparency in Healthcare Regulatory and Reimbursement Process 54
6.3.3 Unethical Business Practices 54
7 South Korea Pharmaceutical Market Outlook 2013 - Competitive Landscape 55
7.1 Key Foreign Companies 55
7.1.1 GlaxoSmithKline 55
7.1.2 Sanofi 55
7.1.3 Pfizer 56
7.2 Key Domestic Companies 57
7.2.1 Dong-A 57
7.2.2 Green Cross 58
7.2.3 Hanmi 59
7.2.4 JW Holdings Corporation (Choongwae Holdings Co., Ltd.) 60
7.2.5 Yuhan Corporation 60
8 South Korea Pharmaceutical Market Outlook 2013 - The Way Forward 61
8.1 Outlook 61
8.2 Opportunities Ahead 61
8.2.1 Biosimilars 61
8.2.2 Stem Cell Research 61
9 South Korea Pharmaceutical Market Outlook 2013 - Appendix 63
9.1 Market Definitions 63
9.2 Abbreviations 63
9.3 Bibliography 64
9.4 Research Methodology 66
9.4.1 Coverage 66
9.4.2 Secondary Research 66
9.4.3 Primary Research 66
9.4.4 Expert Panel Validation 67
9.5 Contact Us 67
9.6 Disclaimer 67

List of Tables

Table 1: Pharmaceutical Market, South Korea, Revenue ($bn), 2006-2012 11
Table 2: Pharmaceutical Market, South Korea, Revenue ($bn), 2012-2018 11
Table 3: Pharmaceutical Market, South Korea, Pharmaceutical Trade ($tn), 2006-2012 12
Table 4: Pharmaceutical Market, South Korea, Pharmaceutical Export ($m), 2008-2012 13
Table 5: Pharmaceutical Market, South Korea, Pharmaceutical Export to Leading Destinations ($m), 2010 15
Table 6: Pharmaceutical Market, South Korea, Pharmaceutical Import ($m), 2008-2012 16
Table 7: Pharmaceutical Market, South Korea, Population (million), 2000-2025 18
Table 8: Pharmaceutical Market, South Korea, Crude Death Rate (per 100,000 population) by Sex, 2005-2012 19
Table 9: Pharmaceutical Market, South Korea, Death Rate (per 100,000 population), by Type of Disease, 2001, 2010 and 2011 21
Table 10: Pharmaceutical Market, South Korea, Crude Birth Rate (per 1,000 people), 2005-2012 22
Table 11: Pharmaceutical Market, South Korea, Infant Mortality Rate by Sex (per 1,000 Live Births), 2005-2012 23
Table 12: Pharmaceutical Market, South Korea, Life Expectancy at Birth (years) by Gender, 1980-2040 24
Table 13: Pharmaceutical Market, South Korea, Healthcare Indicators, 2010 25
Table 14: Pharmaceutical Market, South Korea, Major Healthcare Benefits Expansions, 2004-2009 27
Table 15: Pharmaceutical Market, South Korea, Healthcare Expenditure as % of GDP (%), 2004-2012 32
Table 16: Pharmaceutical Market, OECD Countries, Healthcare Expenditure as % of GDP (%), 2004 - 2012 33
Table 17: Pharmaceutical Market, South Korea, OOP Expenditure as % of Total Health Expenditure (%), 2004-2012 34
Table 18: Pharmaceutical Market, OECD Countries, OOP Expenditure as % of Total Health Expenditure (%), 2004-2012 35
Table 19: Pharmaceutical Market, South Korea, Public Spending as % of Total Health Expenditure, 2004-2012 36
Table 20: Pharmaceutical Market Outlook, South Korea, Health Workforce and Infrastructure, 2012 37
Table 21: Pharmaceutical Market, South Korea, Out-Of-Pocket payment, 2011 39
Table 22: Pharmaceutical Market, South Korea, Comparison between Long-term Care Insurance and Elderly Benefit Schemes, 2012 39
Table 23: Pharmaceutical Market, South Korea, OTC Drugs Market ($bn), 2006-2012 41
Table 24: Pharmaceutical Market, South Korea, OTC Drugs Market ($bn), 2012-2018 41
Table 25: Pharmaceutical Market, South Korea, Prescription Drugs Market ($bn), 2006-2012 42
Table 26: Pharmaceutical Market, South Korea, Prescription Drugs Market Forecast ($bn), 2012-2018 42
Table 27: Pharmaceutical Market, South Korea, Marketed Products, 2011 43
Table 28: Pharmaceutical Market, South Korea, Generics Market ($bn), 2006-2012 44
Table 29: Pharmaceutical Market, South Korea, Generics Market Forecast ($bn), 2012-2018 44
Table 30: Pharmaceutical Market, South Korea, Government Investment in Biotechnology ($m), 2000-2010 45
Table 31: Pharmaceutical Market, South Korea, Biotechnology Market ($bn), 2006-2012 46
Table 32: Pharmaceutical Market, South Korea, Biotechnology Market Forecast ($bn), 2012-2018 46
Table 33: Pharmaceutical Market, South Korea, GlaxoSmithKline Korea, Strategic Consolidations, 2011 55
Table 34: Pharmaceutical Market, South Korea, Sanofi-aventis Korea, Strategic Consolidations, 2012 55
Table 35: Pharmaceutical Market, South Korea, Dong-A, Strategic Consolidations, 2011-2012 57
Table 36: Pharmaceutical Market, South Korea, Green Cross, Strategic Consolidations, 2011 58
Table 37: Pharmaceutical Market, South Korea, Hanmi, Strategic Consolidations, 2011-2012 59
Table 38: Pharmaceutical Market, South Korea, Yuhan, Strategic Consolidations, 2011 60

List of Figures

Figure 1: Pharmaceutical Market, South Korea, Revenue ($bn), 2006-2018 10
Figure 2: Pharmaceutical Market, South Korea, Pharmaceutical Trade ($tn), 2006-2012 12
Figure 3: Pharmaceutical Market, South Korea, Pharmaceutical Export ($m), 2008-2012 13
Figure 4: Pharmaceutical Market, South Korea, Pharmaceutical Export by Type (%), 2008-2012 14
Figure 5: Pharmaceutical Market, South Korea, Pharmaceutical Export to Leading Destinations ($m), 2010 15
Figure 6: Pharmaceutical Market, South Korea, Pharmaceutical Import ($m), 2008-2012 16
Figure 7: Pharmaceutical Market, South Korea, Pharmaceutical Import by Type (%), 2012 17
Figure 8: Pharmaceutical Market, South Korea, Population (million), 2000-2025 18
Figure 9: Pharmaceutical Market, South Korea, Crude Death Rate (per 100,000 population) by Sex, 2005-2012 19
Figure 10: Pharmaceutical Market, South Korea, Causes of Death (%), 2011 20
Figure 11: Pharmaceutical Market, South Korea, Death Rate (per 100,000 population), by Type of Disease, 2001, 2010 and 2011 21
Figure 12: Pharmaceutical Market, South Korea, Crude Birth Rate (per 1,000 People), 2005-2012 22
Figure 13: Pharmaceutical Market, South Korea, Infant Mortality Rate by Sex (per 1,000 live Births), 2005-2012 23
Figure 14: Pharmaceutical Market, South Korea, Life Expectancy at Birth (years) by Gender, 1980-2040 24
Figure 15: Pharmaceutical Market, South Korea, Healthcare Indicators, 2010 25
Figure 16: Pharmaceutical Market, South Korea, Drivers and Barriers, 2012 26
Figure 17: Pharmaceutical Market, South Korea, Organization of the Korean Food and Drug Association, 2012 29
Figure 18: Pharmaceutical Market, South Korea, Organization of the National Institute of Food and Drug Safety Evaluation, 2012 30
Figure 19: Pharmaceutical Market, South Korea, Healthcare Expenditure as % of GDP (%), 2004-2012 32
Figure 20: Pharmaceutical Market, OECD Countries, Healthcare Expenditure as % of GDP (%), 2004-2012 33
Figure 21: Pharmaceutical Market, South Korea, OOP Expenditure as % of Total Health Expenditure (%), 2004-2012 34
Figure 22: Pharmaceutical Market, OECD Countries, OOP Expenditure as % of Total Health Expenditure (%), 2004-2012 35
Figure 23: Pharmaceutical Market, South Korea, Health Workforce and Infrastructure, 2012 37
Figure 24: Pharmaceutical Market, South Korea, National Health Insurance Operations, 2012 38
Figure 25: Pharmaceutical Market, South Korea, OTC Drugs Market ($bn), 2006-2018 41
Figure 26: Pharmaceutical Market, South Korea, Prescription Drugs Market ($bn), 2006-2018 42
Figure 27: Pharmaceutical Market, South Korea, Generics Market ($bn), 2006-2018 44
Figure 28: Pharmaceutical Market, South Korea, Government Investment in Biotechnology ($m), 2000-2010 45
Figure 29: Pharmaceutical Market, South Korea, Biotechnology Market ($bn), 2006-2018 46
Figure 30: Pharmaceutical Market, South Korea, Manufacturing Share by Type (%), 2009 47
Figure 31: Pharmaceutical Market, South Korea, Number of MandA Deals, 2007-2012 48
Figure 32: Pharmaceutical Market, South Korea, MandA Deals, Deals by Value (%), 2007-2012 49
Figure 33: Pharmaceutical Market, South Korea, Number of Partnership Deals, 2007-2012 50
Figure 34: Pharmaceutical Market, South Korea, Partnership Deals, Deals by Value (%), 2007-2012 50
Figure 35: Pharmaceutical Market, South Korea, Number of Licensing Deals, 2007-2012 51
Figure 36: Pharmaceutical Market, South Korea, Licensing Deals, Deals by Value (%), 2007-2012 51
Figure 37: Pharmaceutical Market Outlook, South Korea, US-Korea FTA, 2012 53
Figure 38: Pharmaceutical Market, South Korea, Biopharmaceutical Implementation Strategies, 2011 62

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