South Korea Type II Diabetes Mellitus Market Analysis

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  • Type: Common Disease Area
  • Published : June 2021
  • Region: Asia
  • Country: South Korea
  • Report ID : 4921

  • Format: PPT, PDF

South Korea Type 2 Diabetes Market: Segmented By Drug Class (Dipeptidyl Peptidase-4 [DPP-4] Inhibitors, Alpha-glucosidase Inhibitors, Biguanides, Glucagon-Like Peptide-1 [GLP-1] Receptor Agonists, Sodium-Glucose Cotransporter 2 Inhibitors [SGLT2], Sulfonylureas, Other [Thiazolidinedione, Meglitinides, Glitazones]) and By Application (Glycaemic Control, Cardiovascular Safety, Hypoglycaemic Avoidance and Others) – Growth, Trends and Forecasts (2019 – 2028)

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Report Overview

The South Korea type 2 diabetes market size stood at around USD 460 million in 2019 and is projected to reach xx million by 2028, exhibiting a CAGR of around xx% during the forecast period.

One in seven Koreans over 30 years of age have diabetes. The prevalence of diabetes among Koreans over 30 years stands at 13.8 percent in 2020, as 4.94 million people have the disease. The number almost doubles to reach 9.48 million, or 26.9 percent of the total population, when people with fasting blood sugar disorder are included. The prevalence is rising in both men and women with increase in age. The rate surpassed 10 percent among men in their 40s, and women in their 50s. Among people older than 70, 28.8 percent of men and 29.4 percent of women have diabetes.

 

Market Drivers

The increase in the diabetic population is also related to aging. Korea’s aging population is the fastest among the 37 OCED countries. The number of elderly people aged 65 or older in Korea increased by an annual average of 4.4% (290,000 per year), 1.7 times the OECD average (which is 2.6%). As the elderly population in Korea is expected to continue to increase, the diabetes treatment market is also expected to show rapid growth.

Although the number of diabetics is steadily increasing each year, the share of people recognizing their disease and receiving treatment remains low. About six or seven of 10 diabetic patients are aware of their illness, and six out of 10 are receiving treatment. This low level of awareness about disease and treatment impedes the growth of the market.

 

1. South Korea Type 2 Diabetes Market Overview…………..
A. Market Size
2. Market Growth Drivers…………………………………………………….
A. Increasing in Geriatric Population
B. Rise in Prevalence of Diabetes
3. Prevalence of Type 2 Diabetes………………………………..
A. Prevalence
B. Incidence
4. Type 2 Diabetes Market Segmentation………………………….
A. Drug Class
I. Dipeptidyl Peptidase-4 (DPP-4) Inhibitors
II. Alpha-glucosidase Inhibitors
III. Biguanides
IV. Glucagon-Like Peptide-1 (GLP-1) Receptor Agonists
V. Sodium-Glucose Cotransporter 2 Inhibitors (SGLT2)
VI. Sulfonylureas
VII. Other (Thiazolidinedione, Meglitinides, Glitazones)
B. Application
I. Glycaemic Control
II. Cardiovascular Safety
III. Hypoglycaemic Avoidance
IV. Others
5. Type 2 Diabetes 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. LG Chem Pharmaceuticals Company Overview, Product & Services, Strategies & Financials
B. Daewoong Pharmaceuticals Company Overview, Product & Services, Strategies & Financials
C. Dong-A ST Pharmaceuticals 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 Type 2 Diabetes Market
B. Future Opportunities
10. Conclusion

 

Market Segmentation

By Drug Class:

On the basis of drug class, the market is segmented into dipeptidyl peptidase-4 (DPP-4) inhibitors, alpha-glucosidase inhibitors, biguanides, glucagon-like peptide-1 (GLP-1) receptor agonists, sodium-glucose cotransporter 2 inhibitors (SGLT2), sulfonylureas, other (thiazolidinediones, meglitinides, glitazones). In 2019 the domestic SGLT-2 inhibitor market has grown by about 40%. SGLT-2 inhibitors are expanding their indications in the area of ​​heart failure treatment, and growth is expected to continue due to the high possibility of expanding benefits with DPP-4 inhibitors in the domestic diabetes treatment area.

By Application:

Glycaemic control, cardiovascular safety, hypoglycaemic avoidance, and others are the segments based on of application.

 

Top Players

Competition among domestic pharmaceutical companies to secure the diabetes treatment market is very fierce. The development of diabetes treatment drugs by domestic pharmaceutical companies is focused on the DPP-4 inhibitor series and the SGLT-2 inhibitor series. It is also characterized by active progress in the development of improved new drugs along with new drugs. Some of the major players in the market are Daewoong Pharmaceuticals, LG Chem, Dong A-ST, Daewon Pharmaceuticals, Aju Pharm, AstraZeneca, Boehringer Ingelheim, Astella Pharma.

 

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

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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
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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