South Korea Breast Cancer Therapeutics Market Report 2022 to 2030

South Korea Breast Cancer Therapeutics Market Analysis

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The market for South Korean breast cancer therapeutics is expected to witness a rise from $266 Mn in 2022 to $753 Mn in 2030 with a CAGR of 13.9% for the period 2022-30 most probably due to the rise in sedentary lifestyle choices in South Korea and introduction of more sophisticated treatment options. The market is segmented by therapy, by cancer type, and by distribution channel. Hanmi Pharmaceuticals Co Ltd, Daewoong Pharmaceutical Co Ltd, and Eli Lilly are some major competitors in the South Korean breast cancer therapeutics market.

ID: IN10KRPH031 CATEGORY: Pharmaceuticals GEOGRAPHY: South Korea AUTHOR: Parul Choudhary

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South Korea Breast Cancer Therapeutics Market Executive Analysis

South Korea's breast cancer therapeutics market size is at around $266 Mn in 2022 and is projected to reach $753 Mn in 2030, exhibiting a CAGR of 13.9% during the forecast period. The Ministry of Health and Welfare's approved 2022 budget total is $79 Bn, approximately 16% of the overall government budget. It is an increase of $6.40 Bn (8.8%) over the budget for 2021. In a total of $8.5 Bn, the government's share of health insurance revenue has increased marginally by 0.1%. With the elimination of the requirement for dependents for individuals qualifying for Medical Aid benefits, there will also be an increase of $6,570 Bn in Medical Aid spending, or 5.8%, over the previous year. South Korea has universal healthcare that is paid for by a combination of taxes on tobacco products, outside donations, and government subsidies. Residents have the option to select their own healthcare facility and provider under the National Health Insurance plan.

Within the next ten years, it is anticipated that South Korea will experience a rapid rise in the incidence rate of breast cancer as a result of an aging population and the adoption of a westernized lifestyle. The National Cancer Screening Program (NCSP) of Korea advises women aged 40 to 69 to have mammography every two years, while women over 70 should be screened based on personal risk and choice. The best way to screen for breast cancer is still being debated, with many supporting customized screenings, or screening based on individual risk, for women under the age of 70 as well. Gamma-glutamyltransferase (GGT) blood levels above normal have been linked to the onset and progression of breast cancer in South Korean women. Breast cancer occurred most frequently in the post-menopausal women group with obesity and higher serum GGT levels. In South Korea, blood GGT levels may thus represent a novel and potential risk factor for breast cancer.

south korea breast cancer therapeutics market

Market Dynamics

Market Growth Drivers

Some of the main factors influencing the growth of the market are the introduction of more sophisticated technologies in South Korea and the increase in demand for medicines for breast cancer. Due to the fast-paced business culture and the rise of working from home after COVID-19, workplace stress has escalated. Additionally, sedentary habits have contributed to a number of health issues. These factors have raised the incidence of breast cancer, which will increase the demand for breast cancer treatments in South Korea. Supportive actions carried out by local governments and public groups are anticipated to raise awareness of the condition and motivate patients to receive the best possible breast cancer therapy. The Korean Cancer Study Group (KCSG), for instance, promotes research partnerships in the field of breast cancer. Moreover, population-based screening efforts have begun in South Korea.

Market Restraints

The expansion of the breast cancer therapy market in South Korea may be constrained by the absence of efficient medicines and side effects associated with treatment. The expansion of the market can potentially be hampered by the high cost of treating breast cancer in South Korea.

Competitive Landscape

Key Players

Celltrion Inc (KOR)
SK Biopharmaceuticals Co Ltd (KOR)
Hanmi Pharmaceuticals Co Ltd (KOR)
Daewoong Pharmaceutical Co Ltd (KOR)
Eli Lilly
Pfizer
Novartis
Merck

Healthcare Policies and Regulatory Landscape.

Depending on the patient's demands and the treatment they receive, the public healthcare system in Korea may cover between 50 and 80 % of medical expenses. This covers the price of doctor visits, routine treatments, accident insurance, and prescription drugs. Breast cancer treatment is covered by South Korea's national healthcare system. For people with low incomes and who have advanced forms of breast cancer, the government also offers financial help. A variety of campaigns and programs have also been established in South Korea to promote early identification of breast cancer and improve awareness of the disease. This includes instructions on self-examination and routine screenings. For some treatments and procedures, such as breast reconstruction surgery, there are limitations on coverage, so it's possible that portion of it won't be fully covered.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

South Korea Breast Cancer Therapeutics Segmentation

By Therapy (Revenue, USD Billion):

Radiation Therapy
- Targeted Therapy
  - Ribociclib
  - Abemaciclib
  - Afinitor
  - Everolimus
  - Trastuzumab
  - Olaparib
  - Ado-Trastuzumab Emtansine
  - Palbociclib
  - Pertuzumab
  - Herceptin
  - Tykerb (Lapatinib)
  - Others
Hormonal Therapy
- Selective Estrogen Receptor Modulators (SERMs)
- Aromatase Inhibitors
- Estrogen Receptor Downregulators (ERDs)
Chemotherapy
- Taxanes
- Anthracyclines
- Anti-metabolites
- Alkylating Agents
Immunotherapy

By Cancer Type (Revenue, USD Billion):

Hormone Receptor
HER+

By Distribution Channel (Revenue, USD Billion):

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.