Reportlinker Adds The South Korean Pharmaceutical Market Outlook to 2014: Healthcare Regulation and Reforms, Disease Burden and Market Dynamics
NEW YORK, June 7 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
South Korea has moved from being a developing pharmaceutical market to a fully fledged developed market in the past ten years. The Ministry of Health and Welfare is the nodal agency for protecting public health in South Korea. The country's public health status has improved with respect to infant mortality and life expectancy. This has been fueled by rising income levels and resultant improved living conditions and an improved healthcare system.
Healthcare in South Korea is provided principally by the private sector: 93% of medical institutions are privately held and 90% of specialist doctors work for the private sector. In terms of healthcare expenditure, public healthcare spending has grown at an annual rate of 10.1% on a per capita basis since 1981, which is far above the OECD average of 3.6%.
The South Korean drug approval system is a long-winded process and innovator drug companies are required to obtain several certificates and licenses and have to appear for numerous face-to-face meetings with regulatory officials, during and post the approval process. Foreign manufacturers also find the shipment of imported drugs for testing to be a time-consuming and expensive process.
National Health Insurance (NHI) or the Medical Aid Program (governed by the Ministry of Health and Welfare) are the key bodies which provide healthcare benefits to all citizens of South Korea. The NHI is again financed through contributions from employers and the insured, besides government subsidies. The contribution from an insured employee is determined by the standard monthly wage (half of the contribution or 50% is paid by the employee and the other half by the employer).
Key features of this report
- Macroeconomic environment in South Korea includes economic snapshot, population profile and demographic trends, disease burden and epidemiology
- South Korean healthcare system and regulation involving key trends & events, detailed overview of the healthcare system, healthcare financing, recent healthcare reforms, drugs approval process, intellectual property laws and medical tourism
- Overview of the South Korean pharmaceutical market covering comparative dynamics of emerging & major pharmaceutical market, key recent events and trends, therapeutic category analysis, leading product dynamics, generic drug market and the overall market forecast through 2014
- Forecasts and analysis of the leading products in the South Korean pharmaceutical market over the period 2008–14 spread across major therapeutic indications and classes of treatments
Scope of this report
- Develop insights for the South Korean pharmaceutical market, pricing & regulation, healthcare system and detailed epidemiological status of the common indications/risk factors in the country
- Quickly understand how recent events are affecting the performance of major products, and how the marketers are confronting competitive challenges and a range of strategic responses that are taking shape n the South Korean market
- Gain up-to-date competitive intelligence across a wide-range of marketed products, R&D pipeline, market share data, sales forecast and competitive landscape for the major players in the South Korean pharmaceutical market
- Understand which indications have the greatest potential to provide franchise growth, and how pharmaceutical companies are attempting to capitalize these opportunities in South Korea
Key Market Issues
- Biotech drugs focused in the economic plan: As per a plan finalized by the South Korean government in early 2009 to facilitate mid-term economic growth, R&D is to be supported in 17 key industries that include biologics. According to this plan, which has been agreed upon by a presidential policy council and the national science and technology council, a total of $4.66bn would be invested over the next 4 years on different fields including general healthcare. The over all aim of this plan is to drive economic growth.
- OTC medicines set to grow: OTC medicines have been a growing segment in South Korea due to the regional trend of self-prescription. Besides, product branding is also an important factor with studies showing that 35% of the consumers stick to the brand of medicine that they always buy. Over the medium term, factors that are likely to sustain growth in the sector include retail sector liberalization which is likely to expose people to products for self-medication more frequently. Switch from prescription to OTC is likely to trigger the introduction of newer pharmaceuticals in product portfolios.
- Glivec battling pricing issues in South Korea: Novartis has been battling legal action over the pricing of Glivec in South Korea. In January 2010, Seoul Administrative Court dismissed a petition over Glivec price reduction that was filed by a civic group. The court ruled that imposing such a reduction would disrupt the regular regulatory procedures of drug pricing, followed by the government review process. South Korea patients already had access to Glivec through the government driven insurance schemes. Besides, Novartis has been providing for co-payments that allow patients to receive the drug for free without any out-of-pocket expense.
Key findings from this report
- South Korean pharmaceutical market was valued at around $9bn in 2008, recording a Y-o-Y decline of 4.5%. However, during 2004–08 period, the country recorded strong growth with a CAGR of around 14%. IMS Health recently classified South Korean pharmaceutical market as developed but the country's pharmaceutical market growth has been trailing many of the emerging markets such as China, Russia and Brazil.
- South Korean pharmaceutical market is yet to reach a level of growth like that of the high growth emerging markets, a scenario that may change considering the ongoing reform of pricing system for prescription pharmaceuticals.
- Alimentary tract and metabolism remained the leading therapeutic area in South Korea with a market share of 20%. However, most of the market leading therapy areas in the country recorded a decline over the 2007–08 period primarily due to prevailing unfavorable economic conditions and currency fluctuations.
- Top 10 drugs of the South Korean pharmaceutical market contributed only 6.4% of the total sales in 2008, with 'others' accounting for a substantial share of 93.6%. BMS/sanofi-aventis' Plavix and Pfizer's Lipitor remained the best -selling drugs in 2008.
- The competitive landscape of the South Korean pharmaceutical market has a fair representation from both domestic and multinational players. The top ten players together captured 35.2% of the total pharmaceutical market in 2008. Domestic pharmaceutical companies accounted for 18% in market share, comparable to 17.2% by the leading five multinational players.
Key questions answered
- What will be the major growth indications and the accompanying growth drivers in the South Korean pharmaceutical industry over the next 5 years?
- Which were the leading players in the South Korean pharmaceutical market (both multinational and domestic) in 2008?
- How have recent launches from companies such as Dong-A, sanofi-aventis, Daewoong Pharm, Hanmi and Pfizer performed in the market place?
- Which products will be the future growth drivers for the South Korean pharmaceutical market?
- Which therapeutic categories and indications are forecast to offer significant commercial opportunity over the period 2008–14?
- How is the competitive landscape of key therapeutic areas evolving in South Korea?
Table of Contents
The South Korean Pharmaceutical Market Outlook to
2014
Executive Summary 10
South Korea – an overview 10
Healthcare system and regulation 11
Market analysis 12
Competitive landscape 13
Chapter 1 South Korea – an overview 16
Summary 16
Introduction 17
Overview of Korean history 17
Government 17
Economic snapshot – The miracle on the Hangang river 18
Implications of the global economic recession 19
Population profile and demographic trends 21
Disease burden 24
Epidemiology 24
Chapter 2 Healthcare system and regulation 28
Summary 28
Introduction 29
Key recent trends/events 30
Inappropriate pharmaceutical promotional efforts are under government
spotlight 30
EU and South Korea trade deal 30
Healthcare system 31
Healthcare financing 32
Healthcare expenditure in South Korea 36
Healthcare reforms 37
Imprints of the Japanese model 38
Further reforms needed? 39
Drug approval and IP laws in South Korea 39
Medical tourism 41
Chapter 3 Market analysis 44
Summary 44
Introduction 45
Key recent events and trends 46
Glivec battling pricing issues 46
Peramivir filed in South Korea 47
Homegrown H1N1 vaccine approved in South Korea 47
Economic plan to drive biologics growth 48
OTC market set to grow 48
Therapy area analysis 48
Leading therapy areas of the South Korean market 50
Alimentary tract and metabolism 50
Cardiovascular 51
General anti-infectives 53
Nervous system 54
Therapeutic sub-categories analysis 55
Therapy area sales forecast 56
Leading brands 57
Leading brands sales forecast 60
The generics landscape in South Korea 61
Generics vis-à-vis branded products 62
Leading therapy areas of the generics market 63
Chapter 4 Competitive landscape 68
Summary 68
Introduction 69
Leading players 69
Detailed analysis of leading South Korean pharmaceutical market players 71
Dong-A 71
Overview 71
Sales focus by leading therapy areas 71
Marketed products portfolio 72
Pipeline focus 74
Strategic growth analysis 75
sanofi-aventis 76
Overview 76
Sales focus by leading therapy areas 76
Marketed products portfolio 77
Pipeline focus 79
Strategic growth analysis 81
Daewoong 82
Overview 82
Sales focus by leading therapy areas 83
Marketed products portfolio 84
Pipeline focus 86
Strategic growth analysis 86
Hanmi 87
Overview 87
Sales focus by leading therapy areas 88
Marketed products portfolio 89
Pipeline focus 91
Strategic growth analysis 92
Pfizer 93
Overview 93
Sales focus by leading therapy areas 94
Marketed products portfolio 95
Pipeline focus 96
Strategic growth analysis 97
South Korean generic players 98
Chapter 5 Appendix 101
Anatomical therapeutic classification (ATC) 101
A: Alimentary tract and metabolism 101
B: Blood and blood-forming organs 101
C: Cardiovascular system 101
D: Dermatologicals 102
G: Genitourinary system and sex hormones 102
H: Systemic hormonal preparations 102
J: General anti-infectives systemic 102
K: Hospital solutions 102
L: Antineoplastic and immunomodulating agents 102
M: Musculoskeletal system 103
N: Nervous system 103
P: Parasitology 103
R: Respiratory system 103
S: Sensory organs 103
T: Diagnostic agents 103
V: Various 103
Forecast factors 104
Glossary 105
Index 107
List of Figures
Figure 1.1: Stages of growth of the South Korean economy 19
Figure 1.2: Shrinking population of South Korea 21
Figure 1.3: Changing population profile of South Korea 22
Figure 1.4: Transition of South Korea to a super-aged society 23
Figure 1.5: Leading causes of mortality in 2007 24
Figure 2.6: Healthcare provider's statistics, 2007–08 32
Figure 2.7: Health Insurance agencies' coverage in South Korea 34
Figure 2.8: Management and funding of the NHI 35
Figure 3.9: Comparative position of South Korea 46
Figure 3.10: Leading therapeutic segments of the alimentary tract and metabolism therapy area, 2008 50
Figure 3.11: Leading therapeutic segments of the cardiovascular therapy area, 2008 52
Figure 3.12: Leading therapeutic segments of the anti-infectives therapy area, 2008 53
Figure 3.13: Leading therapeutic segments of the nervous system therapy area, 2008 54
Figure 3.14: Top 10 therapeutic sub-categories of the South Korean market by sales, 2008 55
Figure 3.15: Relative growth of branded and generic products, 2004–08 63
Figure 3.16: Relative sales of branded and generic products across therapy areas, 2008 65
Figure 4.17: Therapy area sales for Dong-A, 2008 72
Figure 4.18: Therapy area sales for Sanofi-Aventis, 2008 77
Figure 4.19: Therapy area sales for Daewoong, 2008 83
Figure 4.20: Therapy area sales for Hanmi, 2008 89
Figure 4.21: Therapy area sales for Pfizer, 2008 94
Figure 4.22: Sales break-up of the leading generic players 100
List of Tables
Table 1.1: Political snapshot of South Korea 18
Table 1.2: Economic snapshot of South Korea 19
Table 1.3: Demographic snapshot of South Korea 23
Table 1.4: Forecast epidemiology of key indications and risk factors in South Korea, 2008–14 25
Table 3.5: South Korean pharmaceutical market by therapy area sales, 2008 49
Table 3.6: South Korea market sales forecast by therapy areas ($m), 56
Table 3.7: Top ten brands of the South Korean pharmaceutical market, 2008 57
Table 3.8: Top 10 brands of the South Korean pharmaceutical market sales forecast, 2008–14 60
Table 3.9: Therapy area sales break-up for generics, 2004–08 64
Table 4.10: Leading players of the South Korean pharmaceutical market, 2008 70
Table 4.11: Leading brands of Dong-A in South Korea, 2008 73
Table 4.12: Dong-A R&D pipeline 75
Table 4.13: Leading brands of Sanofi-Aventis in South Korea, 2008 78
Table 4.14: Key late stage pipeline compounds of Sanofi-Aventis 81
Table 4.15: Leading brands of Daewoong in South Korea, 2008 84
Table 4.16: Key late stage pipeline compounds of Daewoong 86
Table 4.17: Leading brands of Hanmi in South Korea, 2008 90
Table 4.18: Key pipeline compounds of Hanmi 92
Table 4.19: Leading brands of Pfizer in South Korea, 2008 95
Table 4.20: Key pipeline compounds of Pfizer 97
Table 4.21: Leading generic players of the South Korean pharmaceutical market, 2008 99
Companies mentioned Daewoong Pharm, Dong-A, Hanmi, Pfizer, Sanofi-Aventis
To order this report:
Pharmaceutical Industry: The South Korean Pharmaceutical Market Outlook to 2014: Healthcare regulation and reforms, disease burden and market dynamics
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Contact:
Nicolas Bombourg
Reportlinker
Email: [email protected]
US: (805)652-2626
Intl: +1 805-652-2626
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