"South Korea Pharmaceuticals & Healthcare Report Q4 2010" now available at Fast Market Research

Sept. 4, 2010 - PRLog -- BMI would describe South Korea as a transitional pharmaceutical market. Characteristic of an emerging market, combined sales of prescription drugs and over-the-counter (OTC) medicines are forecast to post high single-digit compound annual growth rates (CAGRs) over the next five years. However, the operating environment is similar to that seen in traditional markets.

South Korea's Pharmaceutical Business Environment Rating (BER) has increased from 66.9 out of 100 in Q310 to 67.0 in Q410, due to a slight improvement in our evaluation of the Country Risks. Scores for the other main BER sub-categories - Industry Rewards, Country Rewards and Industry Risks - have remained unchanged from the previous quarter. However, South Korea has dropped from first to third in the 17-country ratings system, due to improved BER scores recorded by Australia (66.9 to 70.2) and Japan (66.7 to 68.8).

Indicative of a developed pharmaceutical market, selling and administrative expenses recorded by drugmakers operating in South Korea dropped in 2009, as the government enforced new rules on illegal rebates and other inappropriate marketing practices. The most aggressive cost-container was Swiss multinational Roche, which reduced its 'selling and administrative' expenditure by 45%. The next biggest cuts were implemented by Abbott Korea (-12.5%), Baxter Korea (-11.4%), AstraZeneca Korea (-9.8%) and Janssen Korea (-6.1%).

The largest local drugmaker according to Q110 sales was Green Cross. However, its revenue was boosted significantly (+125%) by demand for its H1N1 swine flu vaccine. Without this exceptional demand driver, the largest firm would have been Dong-A, with sales of US$178mn in first three months of this year. Three firms - Hamni, Choongwae and Chong Kun Dang - attributed their below-average financial results on a challenging operating environment.

It is BMI's view that South Korea will emerge as a global leader in biosimilar research and development. In April 2010, the Korea Food and Drug Administration (KFDA) announced plans to publish guidelines for approving improved generic versions of biological products before the end of H110. The administration already has guidelines for generic versions of brand-name biological products, but the new guidelines will be for improved versions which are differently prepared from the same active ingredients used in brand-name ones.

A May 2010 survey by The Korea Chamber of Commerce and Industry revealed that progress in the country's medical tourism industry has been slow, despite it being a year since the Korean government allowed local hospitals to sell medical treatments to foreign patients in an effort to boost the medical tourism industry.

For more information or to purchase this report, go to:
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Partial Table of Contents:

Executive Summary
SWOT Analysis
- South Korea Pharmaceuticals Industry SWOT
- South Korea Political SWOT
- South Korea Economic SWOT
- South Korea Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Asia Pacific - Regional Business Environment Ratings, Q410
- Rewards
- Risks
South Korea - Market Summary
Regulatory Regime
- Recent Regulatory Developments
- Controversial Trade Practices
- Direct-To-Consumer Advertising
- Intellectual Property Regime
- Market Access Barriers
- Patent Litigation
- Pricing Regime
- Price Cuts
- Reimbursement Regime
- Hospital Purchasing
- Foreign Trade Developments
Industry Trends and Developments
- Epidemiology
- Non-Communicable Diseases
- Communicable Diseases
- Healthcare System
- Healthcare Financing
- National Health Insurance Corporation
- Healthcare System Reforms
- Medical Tourism
- Research and Development
- Table: New Molecular Entities Developed By South Korean Drugmakers
- Recent R&D Developments
- Clinical Trials
- Biotechnology Sector
- Table: South Korea's Bio-Industry Backbone
- Medical Devices
- Table: Classification Of Medical Devices In South Korea
- Recent Developments in the Medical Devices Sector
Industry Forecast Scenario
- Overall Market Forecast
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic
- South Korea - Economic Activity
- Prescription Drug Market Forecast
- Patented Drug Market Forecast
- Generic Drug Market Forecast
- OTC Medicine Market Forecast
- Pharmaceutical Trade Forecast
- Other Healthcare Data Forecasts
- Key Risks to BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Industry
- Table: Top Ten Prescription Drugs In South Korea According To 2009 Sales
- Table: Top Ten Products In South Korea According To 2008 Sales
- Domestic Pharmaceutical Industry
- South Korea's Leading Pharmaceutical Companies According To Q110 Sales
- Recent Company Developments
Company Profiles
- Leading Indigenous Manufacturers
- Dong-A
- Chong Kun Dang Pharmaceutical
- Hanmi Pharmaceutical Co
- Yuhan Corporation
- Daewoong Pharmaceutical
- Bukwang Pharmaceutical Company
- Kuhnil Pharmaceutical
- Choongwae
- Leading Multinational Companies
- GlaxoSmithKline
- Pfizer
- Sanofi-Aventis
- Merck & Co
- Novartis
- Eli Lilly
Country Snapshot: South Korea Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Wages, 2000-2012
BMI Methodology
- How We Generate Our Pharmaceutical Industry Forecasts
- Risk/Reward Ratings Methodology
- Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
- Weighting
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Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=8080...

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.