South Korea Colorectal Market Analysis

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  • Type: Oncology area
  • Published : June 2021
  • Region: Asia
  • Country: South Korea
  • Report ID : 4930

  • Format: PPT, PDF

South Korea Colorectal Cancer Market: Segmented By Diagnostic Techniques (Stool Test, Immunohistochemistry, Colonoscopy, Flexible Sigmoidoscopy, Others) ,By Therapy Type (Surgery, Radiation Therapy, Chemotherapy, Targeted Therapy, Others) and By Drug Type (Vascular Endothelial Growth Factor (VEGF) Inhibitors, Epidermal Growth Factor Receptor (EGFR) Inhibitors, Programmed Cell Death Protein 1/PD1 Ligand 1 (PD1/PDL1) Inhibitors, BRAF or MEK Inhibitors, Immunomodulators, Tyrosine Kinase (TKI) Inhibitors and Others)- Growth, Trends and Forecasts (2019 – 2028)

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Report Overview

The South Korea colorectal cancer market size stood at around USD xx billion in 2019 and is projected to reach xx billion by 2028, exhibiting a CAGR of around 3.2% during the forecast period.

Colorectal cancer or bowel cancer affect the large intestine and rectum. These cancers result due to unrestrained cell growth that occurs in appendix, colon, and rectum region. In South Korea, the leading cause of death is cancer, of which colorectal cancer death ranked third after lung and liver cancer deaths. In 2020, 12.6% of new cancer cases were of colorectal region. Colorectal cancer accounted for 13.9% and 11.1% of new cancer cases in males and females respectively in 2020.

Market Drivers

In recent decades, South Korea has experienced a rapid increase in colorectal cancer incidence rates. Worldwide, South Korea had the second highest incidence rate of colorectal cancer in 2018, with the rate estimated to be 44.5 cases per 100,000 persons per year. Development of colorectal cancer is largely attributable to the dietary and lifestyle factors associated with westernization such as poor diet characterized by high intakes of red and processed meat and alcoholic drinks and low intakes of fibre-rich foods, low physical activity, and obesity. Obesity has proven to be a stronger risk factor for colon cancer.

Increasing geriatric population and growing number of clinical trials to market new drugs is set to further enhance the overall market demand of colorectal cancer during the forecast period.

 

1. South Korea Colorectal Cancer Market Overview…………………………
A. Market Size
2. Market Growth Drivers…………………………………………….
A. High Incidence Rate
B. Westernised Diet and Lifestyle
3. Types of Colorectal Cancer……………………………………………………………
A. Adenocarcinoma
B. Carcinoid Tumours
C. Gastrointestinal Stromal Tumours
D. Colorectal Lymphoma and Others
4. Colorectal Cancer Market Segmentation………………………………………….
A. Diagnostic Techniques
I. Stool Test
II. Immunohistochemistry
III. Colonoscopy
IV. Flexible Sigmoidoscopy
V. Others
B. Therapy Type
I. Surgery
II. Radiation Therapy
III. Chemotherapy
IV. Targeted Therapy
V. Others
C. Drug Type
I. Vascular Endothelial Growth Factor (VEGF) Inhibitors
II. Epidermal Growth Factor Receptor (EGFR) Inhibitors
III. Programmed Cell Death Protein 1/PD1 Ligand 1 (PD1/PDL1) Inhibitors
IV. BRAF or MEK Inhibitors
V. Immunomodulators
VI. Tyrosine Kinase (TKI) Inhibitors
VII. Others
5. Colorectal Cancer Products Market Share……………………………………….
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape……………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles……………………………………………….
A. Eli Lilly Korea Company Overview, Product & Services, Strategies & Financials
B. Bristol Myers Squibb Company Overview, Product & Services, Strategies & Financials
C. Amgen Company Overview, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape…………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth……………………………………………
A. New Trends and Development of Colorectal Cancer Market
B. Future Opportunities
10. Conclusion

 

 

Market Segmentation

By Diagnostic Techniques:

According to diagnostic techniques market is segmented into stool test, immunohistochemistry, colonoscopy, flexible sigmoidoscopy.

By Therapy Type:

According to type of therapy market segments are surgery, radiation therapy, chemotherapy, targeted therapy, and others. Immunotherapy is expected to remain a significant revenue source for leading players in the forecasted period. Immunotherapy refers to the fighting cancer cells by taking advantage of the human immune system. There are several immunotherapy drugs available for colorectal cancer. These therapeutics include targeted antibodies and checkpoint inhibitors. Targeted therapy is also attaining importance due to its specificity toward cancer cells, while sparing the toxicity to off-target cells. Targeted therapies have already begun to extend the lifespan of metastatic colorectal cancer patients compared with chemotherapy-only therapy.

By Drug Type:

The market segments based on type of drugs used in colorectal cancer treatment are vascular endothelial growth factor (VEGF) inhibitors, epidermal growth factor receptor (EGFR) inhibitors, programmed cell death protein 1/pd1 ligand 1 (pd1/pdl1) inhibitors, BRAF or MEK inhibitors, immunomodulators, tyrosine kinase (TKI) inhibitors and others.

Top Players

Major players in the colorectal cancer drugs market are Merck & Co. Inc., Roche, Sanofi, Amgen, and Pfizer, Celgene. Eli Lilly Korea, Bristol Myers Squibb.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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