South Korea Lung Cancer Therapeutics Market Report 2022 to 2030

South Korea Lung Cancer Therapeutics Market Analysis

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By 2030, it is anticipated that the South Korea Lung Cancer Therapeutics Market will reach a value of $875 Mn from $435 Mn in 2022, growing at a CAGR of 9.1% during 2022-2030. The Lung Cancer Therapeutics Market in South Korea is dominated by a few domestic pharmaceutical companies such as Yuhan Corporation, Hanmi Pharmaceutical, and Celltrion Healthcare. The Lung Cancer Therapeutics Market in South Korea is segmented into different types of cancer and different therapy type. Some of the major factors affecting the South Korean lung cancer therapeutics market are the prevalence of unhealthy lifestyles, demand for targeted therapies and the presence of highly efficient drugs.

ID: IN10KRPH041 CATEGORY: Pharmaceuticals GEOGRAPHY: South Korea AUTHOR: Dr. Vishwa Modhia

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South Korea Lung Cancer Therapeutics Analysis Summary

By 2030, it is anticipated that the South Korea Lung Cancer Therapeutics market will reach a value of $875 Mn from $435 Mn in 2022, growing at a CAGR of 9.1% during 2022-2030.

South Korea is geographically located in East Asia, constituting the southern part of the Korean Peninsula. South Korea's principal administrative divisions are nine provinces and seven metropolitan cities, with a current population of roughly 51.8 Mn people. Lung cancer is the second most prevalent male cancer and the fifth most common female cancer. Radiotherapy is available at 95 radiotherapy centres throughout the country. There are now two proton centres available, and two carbon-ion facilities are under construction. In most hospitals, linear accelerators for intensity-modulated radiotherapy (IMRT), respiratory-gating, and image-guided radiotherapy are up to date.

According to the latest WHO data published in 2020 Lung Cancers Deaths in South Korea reached 20,293 or 8.10% of total deaths. The age-adjusted Death Rate is 20.90 per 100,000 population ranks South Korea 49^th in the world. South Korea's government spends 4.7% of its GDP on healthcare.

South Korea Lung Cancer Therapeutics Analysis

Market Dynamics

Market Growth Drivers

In 2019, a Korean population-based organised lung cancer screening programme was established based on the findings of K-LUCAS. In South Korea, multiple molecular diagnoses and associated diagnoses are used to apply for lung cancer precision medicine. The majority of lung cancer procedures are conducted in academic centres by dedicated general thoracic surgeons. According to the Korean Association for Thoracic Surgical Oncology, roughly 190 active general thoracic surgeons now treat lung cancer patients in 35 institutions. In South Korea, lobectomy is still the most commonly done resection (75-80%). These aspects could boost the South Korea Lung Cancer Therapeutics market.

Market Restraints

Along with the WHO Framework Convention on Tobacco Control, the South Korean government has implemented several tobacco control policies, including cigarette price increases, the establishment of smoking-free public spaces, the prohibition of tobacco advertising in stores, and the display of warnings on all cigarette packages. However, the prevalence of e-cigarette usage has increased, particularly among teens, generating public health concerns. In South Korea, the systemic therapy option is primarily based on pharmacological approval by the Ministry of Food and Drug Safety (MFDS) and the national insurance reimbursement status. These factors may deter new entrants into the South Korea Lung Cancer Therapeutics market.

Competitive Landscape

Key Players

Yuhan Corporation: Yuhan Corporation is a South Korean pharmaceutical company that produces and distributes a range of medicines, including those used in the treatment of lung cancer
Hanmi Pharmaceutical: Hanmi Pharmaceutical is a South Korean pharmaceutical company that develops and manufactures a range of medicines, including those used in the treatment of lung cancer
Green Cross Lifesciences
Celltrion Healthcare
Kolon Life Science

Recent Notable Updates

October 2022: Ono Pharmaceutical announced that Opdivo (nivolumab) Intravenous Infusion (Opdivo), a human anti-human PD-1 monoclonal antibody, has been approved by the Ministry of Food and Drug Safety (MFDS) in South Korea for the neoadjuvant treatment of adult patients with resectable non-small cell lung cancer in combination with platinum-doublet chemotherapy. This approval is based on the findings of a global multi-centre, randomised, open-label Phase 3 clinical trial comparing Opdivo with chemotherapy to chemotherapy alone as a neoadjuvant treatment in patients with resectable non-small cell lung cancer (NSCLC).

Healthcare Policies and Reimbursement Scenarios

The regulation and reimbursement of lung cancer therapeutics in South Korea are overseen by the Ministry of Food and Drug Safety (MFDS) and the National Health Insurance Service (NHIS). The Korean government kicked off the National Cancer Control Plan (NCCP) in 1995 and, following the adoption of the National Cancer Center Act in 2000, the National Cancer Center Korea (NCC Korea) was finally established in 2001. Lung cancer therapies must be included in the National Health Insurance Drug List (NHI Drug List).

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

Lung Cancer Therapeutics Segmentation

By Type (Revenue, USD Billion):

Small Cell Lung Cancer
Non-small Cell Lung Cancer
Lung Carcinoid Tumor

By Therapy (Revenue, USD Billion):

Radiation Therapy
Targeted Therapy
Immunotherapy
Chemotherapy
Others

By Type of Molecule (Revenue, USD Billion):

Small Molecules
Biologics

By Drug Class (Revenue, USD Billion):

Alkylating Agents
Antimetabolites
Multikinase Inhibitors
Mitotic Inhibitors
EGFR Inhibitors
Others

By Distribution Channel (Revenue, USD Billion):

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Methodology for Database Creation

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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

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Analyzing historical proprietary data collected from multiple projects.
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Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
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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.
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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.
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