New Market Report Now Available: South Korea Pharmaceuticals & Healthcare Report Q1 2011

Dec. 1, 2010 - PRLog -- South Korea has a highly developed and growing economy, which is reflected in BMI's forecast for the country's pharmaceutical market. Drug market expenditure is forecast to reach almost KRW19,327bn (US$19.33bn) at consumer prices in 2014 (with a forecast CAGR of 7.1% in local currency terms), supported by an aging population with rising demand for drugs as well as the planned liberalisation of the health insurance sector. By 2019, pharmaceutical expenditure is expected to have reached KRW26,500bn (US$26.50bn).

Changes to South Korea's medicine pricing and purchasing regime were announced in the first half of 2010. The government is planning to reduce maximum drug prices by 15-25% over the three years starting from October 2010. BMI expects that increased volume consumption will offset much of these negative pricing pressures. However, if volume growth fails to materialise, market values could be affected more severely.

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

South Korea's pharmaceutical business environment was ranked third in the Asia Pacific region in Q111. The country's pharmaceutical BER score has increased from 67.0 in Q410 to 67.9 in Q111, placing it seven points clear of fourth-placed China. In terms of both 'rewards' and 'risks' indicators, South Korea is rated amongst the most attractive markets in the region.

Local industry has traditionally focused on generics. However, several domestic players including Chong Kun Dang have been looking to branch into originator drugs, supported by the country's strong research and development (R&D) infrastructure.

In October 2010, South Korean consumer electronics manufacturer Samsung Electronics revealed its intention to purchase a controlling stake in local medical device company Medison. At the same time, some medical device manufacturers are expanding into other pharmaceutical and medical fields. For example, in October 2009, South Korean Arigene acquired US-based biotechnology firm Trimeris for US$81mn. The US company is developing therapeutic agents for the treatment of viral diseases.

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, Q111
- 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
- Table: Pharmaceutical Sales Indicators 2006-2014
- Key Growth Factors - Industry
- Table: Healthcare Expenditure Indicators 2006-2014
- Table: Government Healthcare Expenditure Indicators 2006-2014
- Table: Private Healthcare Expenditure Indicators 2006-2014
- Key Growth Factors - Macroeconomic
- Table: South Korea - Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2006-2014
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators 2006-2014
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2006-2014
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2006-2014
- Pharmaceutical Trade Forecast
- Table: Pharmaceutical Export & Import Indicators 2006-2014
- 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
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Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=9641...

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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.