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CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - South Korea

CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - South Korea

  • April 2016
  • 276 pages
  • ID: 2070138
In this report:
In 2012, Korean pharmaceutical companies made R&D investments worth KRW##.## billion ($##.##m), with a high CAGR of ##.##% during the 2008-2012 period.
The biotechnology industry market, in terms of production, domestic sales and export, was valued at approximately KRW##.## trillion ($##.## billion) in 2009, which increased steadily to KRW##.## trillion ($##.## billion) in 2013, at a CAGR of ##.##%.

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CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - South Korea

Brief

GlobalData, the industry analysis specialist, has released its recent report, "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - South Korea (KR)". The study is an vitally source of information and analysis on the healthcare, regulatory and reimbursement landscape in South Korea (KR). It determines the top trends in the healthcare market and provides business insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure of South Korea. Most importantly, The study offers valuable insights into the trends and segmentation of the pharmaceutical and medical device markets. It is built using data and data sourced from proprietary databases, secondary research, and in-house analysis by GlobalData's team of industry experts.

In 2015, South Korea's population was approximately at 51.2 million. It has one of the world's more important population densities. The South Korean government has been making continuous efforts to strengthen the economy to ensure long-term growth, and the pharmaceutical market is seen as a main industry for the country's future growth. To support this industry, the South Korean regulatory authorities recently made changes to the regulatory bodies overseeing the pharmaceutical and wider medical sectors, to provide a transparent, strong and effective regulatory system to facilitate faster approval of pharmaceutical products and medical devices. The South Korean pharmaceutical market is one of the biggest in Asia, forecasted to be worth $18.20B in 2015 and anticipated to reach $20.40B by 2020. The sector grew nominally at a Compound Annual Growth Rate of 2.40 percent over the 2008-2020 period. The medical device market was valued at $4.40B in 2008 and is anticipated to reach approximately $6.50B by 2020, at a projected Compound annual growth rate of 6%. These positive trends can primarily be attributed to -

- An growing elderly population in South Korea (KR), leading to increases in disease incidence and prevalence as well as bigger need for long-term care and medical devices

- Increasing awareness in the medical community and the general population regarding early disease detection and diagnosis, leading to bigger rates of adoption of treatments and healthcare

Overview

The study offers info on the healthcare, regulatory, and reimbursement landscape in South Korea (KR), and includes -

- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and top drivers and barriers

- Profiles and SWOT analyses of the main players in the pharmaceutical market (Yuhan Corporation, Green Cross Corporation, Dong-A Pharmaceutical, Hanmi Pharmaceutical, and Daewoong Pharmaceuticals) and the medical device market (Siemens Healthcare, Johnson & Johnson, GE Healthcare, Baxter International, Philips Healthcare)

- An insightful review of the reimbursement and regulatory landscape, of which analysis includes details of the healthcare reimbursement process, the regulatory agencies and the approval processes for additional drugs and medical devices

- Detailed analysis of the political and economic environment, covering economic indicators, demographics, healthcare infrastructure and healthcare expenditure

- An overview of the opportunities for and challenges to growth in the South Korean healthcare market

Great reasons to purchase

This industry report will enhance your decision-making capability by allowing you to -

- Develop strategic management by understanding the trends shaping and driving South Korea's healthcare market

- Drive revenues by understanding the main trends, reimbursement and regulatory policies, pharmaceutical market segments, and firms likely to impact the healthcare market in the coming years

- Specified effective sales and marketing strategies by understanding the ambitious landscape and analyzing the performance of different competitors

- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and tactical partnership

- Identify, comprehend, and exploit the opportunities and challenges in South Korea's healthcare market

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