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
- 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
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- 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 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.
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.
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.