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:

The South Korean Pharmaceutical Market Outlook to 2014: Healthcare regulation and reforms, disease burden and market dynamics

http://www.reportlinker.com/p0203700/The-South-Korean-Pharmaceutical-Market-Outlook-to-2014-Healthcare-regulation-and-reforms-disease-burden-and-market-dynamics.html

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

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Pharmaceutical Industry: The South Korean Pharmaceutical Market Outlook to 2014: Healthcare regulation and reforms, disease burden and market dynamics

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