South Korea Oncology Drugs Market Analysis


  • Type: Therapeutics Area
  • Published : February 2022
  • Region: Asia
  • Country: South Korea
  • Report ID : 5061

  • Format: PPT, PDF

South Korea Oncology Drugs Market: Segmented by Test, Type, and Application Type – Growth, Market Size, Future Prospects & Competitive Analysis, 2021 – 2028

SKU: 5061 Categories: ,

Report Description of the South Korea Oncology Drugs Market

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Research Objective:

  • To analyze and forecast the market size of South Korea Oncology Drugs Drugs market
  • To classify and forecast South Korea Oncology Drugs Market market based on application, drugs, project type, and application.
  • To identify drivers and challenges for South Korea Oncology Drugs market
  • To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in South Korea Oncology Drugs market
  • To conduct pricing analysis for South Korea Oncology Drugs Drugs market
  • To identify and analyze the profile of leading players operating in South Korea Oncology Drugs market

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for Atopic Dermatitis drug market
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Atopic Dermatitis market
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis

South Korea Oncology Drugs Market Executive Summary

There is massive scope for interventional oncology drug in developing countries such as South Korea possess populations with high prevalence and incidence rates of cancer, which drives the adoption of interventional oncology devices for the treatment of cancer, which would surge the overall interventional oncology devices market in the country.

Market Size and Key Findings

The South Korea Oncology Drugs market size is at around USD xx billion in 2021 and is projected to reach USD xx billion in 2028, exhibiting a CAGR of xx% during the forecast period.

In Korea, cancer accounts for one in four deaths and more than 200,000 new cancer cases were diagnosed in 2015. The number of cancer incidences and deaths are expected to increase with an aging population and westernized lifestyles. The Oncology Market is expected to grow during the forecasting period.

Market Dynamics

Market Growth Drivers Analysis

The growth factors for the South Korea Oncology drug market is the increasing number of cancer cases along its rising mortality rate. Furthermore, technological advancements in pharmaceuticals & biotechnology are expected to fuel growth over the forecast period. Other factors include the rise in the geriatric population, increasing cancer prevalence worldwide, and a growing focus on research & development.

Market Restraints

Financial Burden of Product Recalls, Lack of Clinical Evidence for Locoregional Treatments and Dearth of Trained Interventional Oncologists have detrimental impact on the home healthcare market growth rate.

COVID-19 impact on “South Korea Oncology Drugs Market” 

During COVID-19, the growth of the interventional oncology drug market was negatively impacted, especially in 2020. Although the interventional oncology facilities continued to operate, the sales of the companies were negatively impacted.

Competitive Landscape

Key Players

Key market players include Abbott Laboratories, Takara Bio Inc., Hemosure Inc., Sentinel CH. SpA, and Others

Products in Pipeline

Takara Bio Inc. currently has clinical development projects in therapeutic approaches such as Engineered T cell therapy for Acute lymphocytic leukemia and Oncolytic viral therapy for Malignant melanoma and Pancreatic cancer

Notable Recent Deals

Sentinel Oncology announced today that it has entered an agreement with the McQuade Center for Strategic Research and Development, LLC (MSRD), a member of the global Otsuka family of pharmaceutical companies to support the clinical development of a first-in-class therapeutic with the potential to treat Fragile X syndrome (FXS), a rare, genetic condition that causes intellectual disability, behavioral and learning challenges, and various physical characteristics

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of South Korea Oncology Drugs Services

The Korean Society of Hospice & Palliative Care (KSHPC) updated that the Ministry of Health & Welfare Department of Korea has announced public health medical coverage for terminal cancer patients. This includes Hospice & Palliative Care service cost which will come into effect around July 2015. The coverage will include nursing aid fee and is expected to gradually expand to cover hospice home care service. This is a huge step forward as public health medical coverage designed for cancer patients were mainly focused on “Cure” rather than “Care” since 2005.

1. Report Description of the South Korea Oncology Drugs Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. South Korea Oncology Drugs Market Executive Summary
2.1 South Korea Oncology Drugs Market – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of South Korea Oncology Drugs Market
3.1 Market Growth Drivers Analysis
3.1.1 Increasing number of cancer cases along its rising mortality rate
3.1.2 Technological advancements in pharmaceuticals & biotechnology
3.1.3 Rise in the geriatric population
3.1.4 Increasing cancer prevalence
3.1.5 Growing focus on research & development.
3.2 Market Restraints Analysis
3.3 Financial Burden of Product Recalls,
3.4 Lack of Clinical Evidence for Locoregional Treatments
3.5 Dearth of Trained Interventional Oncologists
3.6 Covid-19 Market Impact Analysis
3.3.1 Negative impact on outcomes
4. Oncology Drugs Market Segmentation
4.1 By Test Analysis:
4.1.1 ALK Tests
4.1.2 BRCA Tests
4.1.3 Colorectal Cancer Screening Tests
4.1.4 EGFR Tests
4.1.5 HER2 Amplification Tests
4.1.6 KRAS Tests
4.2 By Type Analysis:
4.2.1 Avastin
4.2.2 Rituxan
4.2.3 Herceptin
4.2.4 Alimta
4.3 By Application Type Analysis:
4.3.1 Hospital
4.3.2 Clinic
4.3.3 Home Care
5. South Korea Oncology Drugs Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives in South Korea Oncology Drugs Market
6.4 Notable recent deals in South Korea Oncology Drugs Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers &Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Abbott Laboratories Company Overview
Product & Services, Strategies & Financials
7.2 Takara Bio Inc. Company Overview
Product & Services, Strategies & Financials
7.3 Hemosure Inc Company Overview
Product & Services, Strategies & Financials
7.4 Sentinel CH. SpA Company Overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Pricing and Reimbursement scenario of South Korea Oncology Drugs Market
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development South Korea Oncology Drugs Market
9.2 Future Opportunities
10. Strategic Recommendations

Oncology Drugs Market Segmentation

By Test:

Based on the Test  the market is segmented into ALK Test, BRCA Tests, Colorectal Cancer Screening Tests, EGFR Tests, HER2 Amplification Tests, and KRAS Tests

  • ALK Tests
  • BRCA Tests
  • Colorectal Cancer Screening Tests
  • EGFR Tests
  • HER2 Amplification Tests
  • KRAS Tests.

By Type:

Avastin is a drug that targets angiogenesis (blood vessel growth), which means it stops cancer from growing blood vessels, thus starving itself of nutrients. Rituxin uses monoclonal antibodies, which are designed to attack certain types of cells in the body that cause disease or illness. Herceptin targets the HER-family of receptors (human epidermal growth factor receptor). These are proteins that help cancer cells grow, divide, and spread throughout the body – which means stopping this from happening is a key step in stopping cancer from developing. Alimta is a drug that has been approved by FDA to treat lung cancer and malignant pleural mesothelioma.

  • Avastin
  • Rituxan
  • Herceptin
  • Alimta

By Application Type:

In hospitals, the use of Oncology Drug Market is used to treat cancer. It reduces the size of a tumor or destroys it by destroying harmful cells to slow down or stop its growth, spread, and improve symptoms related to treatment.In-Clinic, the Oncology drug market will help to reduce or stop cancer cells from growing by blocking specific proteins that cause them to grow quickly. At Homecare, Oncology drugs are used to shrink or stop tumor growth by interfering with cell division (which prevents cancer cells from growing and dividing) or by killing cells that divide rapidly.

  • Hospital
  • Clinic
  • Home Care

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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