The Pharmaceutical Market: South Korea

Date: January 31, 2013
Pages: 123
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Publisher: Espicom Business Intelligence
Report type: Strategic Report
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The Pharmaceutical Market: South Korea
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SOUTH KOREA

Given the commitment to innovation in both the public and the private sector in the country, South Korea will continue to be one of the key leaders in research and development (R&D) in the Asia Pacific region. However, we continue to see challenges to multinational companies posed by the toughness of the country's drug pricing environment. Nevertheless, manufacturers will continue to benefit from relatively high per capita spending on medicines and the steady volume demand driven by trends such as an ageing population .

Headline Expenditure Projections

Pharmaceuticals: KRW16,392bn (US$14.80bn) in 2011 to KRW16,877bn (US$14.36bn) in 2012; +3.0% in local currency terms and -2.9% in US dollar terms. Forecast broadly unchanged from Q4 12.

Healthcare: KRW83,567bn (US$75.43bn) in 2011 to KRW88,126bn (US$75.00bn) in 2012; +5.5% in local currency terms and -0.6% in US dollar terms. Forecast broadly unchanged from Q4 12.

Medical devices: KRW4,432bn (US$4.00bn) in 2011 to KRW4,891bn (US$4.16bn) in 2012; +10.4% in local currency terms and +4.1% in US dollar terms. Forecast broadly unchanged from Q4 12.

Competitive Landscape

The Competitive Landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.
EXECUTIVE SUMMARY

SWOT ANALYSIS

    South Korea Pharmaceuticals Industry SWOT
    South Korea Political SWOT
    South Korea Economic SWOT
    South Korea Business Environment SWOT

PHARMACEUTICALS RISK/REWARD RATINGS

    Table: Asia Pacific – Regional Pharmaceuticals Risk/Reward Ratings, Q113
    Rewards
    Risks

SOUTH KOREA – MARKET SUMMARY

REGULATORY REGIME

    Regulatory Developments
    Counterfeiting
    Controversial Trade Practices
    Intellectual Property Regime
    IP Deficiencies
    Patent Litigation
    Pricing Regime
    Price Cuts
    Reimbursement Regime
    Separation of Prescribing and Dispensing
    Hospital Purchasing
    Table: Selected List Of Illegal Rebates Cases
    Foreign Trade Developments

INDUSTRY TRENDS AND DEVELOPMENTS

    Epidemiology
    Non-Communicable Diseases
    Communicable Diseases
    Healthcare System
    Healthcare Financing
    National Health Insurance Corporation
    Medical Tourism
    Research And Development
    Table: MOHW’s R&D Grants by Company & Industry Field, 2004-09
    Table: Top R&D Spenders In Listed Firms In Selected Asia Pacific Countries (%)
    Stem Cell Research
    Biotechnology Sector
    Table: South Korea’s Bio-Industry Backbone
    Clinical Trials
    Medical Devices

INDUSTRY FORECAST SCENARIO

      Overall Market Forecast
      Table: Pharmaceuticals Sales Indicators, 2008-2016
      Healthcare Market Forecast
      Table: Healthcare Expenditure Indicators, 2008-2016
      Table: Healthcare Governmental Indicators, 2008-2016
      Table: Healthcare Private Indicators, 2008-2016
      Key Growth Factors – Macroeconomic
      Prescription Drug Market Forecast
      Table: Prescription Drug Sales Indicators, 2008-2016
      Patented Drug Market Forecast
      Table: Patented Drug Market Indicators 2008-2016
      Generic Drug Market Forecast
      Table: Generic Drug Sales Indicators, 2008-2016
      OTC Medicine Market Forecast
      Table: List Of OTC Drugs To Be Sold Outside Pharmacies
      Table: OTC Medicine Sales Indicators, 2008-2016
      Pharmaceutical Trade Forecast
      Table: Exports and Imports Indicators, 2008-2016
      Medical Device Market Forecast
      Table: Medical Devices Sales Indicators, 2008-2016
      Other Healthcare Data Forecasts
      Key Risks To BMI’s Forecast Scenario

COMPETITIVE LANDSCAPE

      Pharmaceutical Industry
      Domestic Pharmaceutical Industry
      Table: Top-20 Pharmaceutical Firms By R&D Expenditure As % Of Total In South Korea (2011)
      Table: Companies with a Representative on KPMA Board of Directors, 2012
      Table: Pharmaceutical Manufacturers, 2004-10
      Table: Pharmaceutical Production, 1991-2010 (KRWbn)
      Table: Pharmaceutical Production by Therapeutic Category, 2009-2010 (KRWbn)
      Table: Leading Pharmaceuticals Companies On Korea Exchange According To Market Capitalisation
      Foreign Pharmaceuticals Sector
      Table: KRPIA Members, 2012
      Recent Pharmaceutical Sector Developments
      Pharmaceutical Wholesale
      Table: Pharmaceutical Wholesalers, 2000-10
      Table: Pharmaceutical Wholesalers by Province/City, 2010
      Pharmaceutical Retail
      Table: Pharmaceutical Retailers, 2000-10
      Table: Pharmaceutical Retailers by Province/City, 2010
      Table: Recent Developments In OTC Liberalisation

COMPANY PROFILES

  Leading Local Manufacturers
      Dong-A
      Chong Kun Dang Pharmaceutical
      Hanmi Pharmaceutical Co
      Yuhan Corporation
      Daewoong Pharmaceutical
    South Korea Pharmaceuticals & Healthcare Report Q1 2013
      Bukwang Pharmaceutical Company
      Kuhnil Pharmaceutical
      Choongwae
  Leading Multinational Companies
  GlaxoSmithKline
  Pfizer
  Sanofi-Aventis
  Merck & Co
  Novartis
  Eli Lilly

DEMOGRAPHIC OUTLOOK

      South Korea – Population By Age Group
      South Korea – Population By Age Group
      South Korea – Key Population Ratios
      South Korea – Rural and Urban Population

GLOSSARY

BMI METHODOLOGY

      How We Generate Our Pharmaceuticals Industry Forecasts
      Risk/Reward Ratings Methodology
      Ratings Overview
      Table: Pharmaceuticals Business Environment Indicators
      Weighting
      Table: Weighting Of Components
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