South Korea Oncology Clinical Trials Market Report 2022 to 2030

South Korea Oncology Clinical Trials Market Analysis

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South Korea's oncology clinical trials market is projected to grow from $184.8 Mn in 2022 to $305.9 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022-30. The market will be driven by the country's well-established infrastructure, advanced medical facilities, and streamlined regulatory processes. The market is segmented by phase, study design, and indication. Some of the major players include Pfizer Inc., Roche Holding AG & SK Biopharmaceuticals.

ID: IN10KRCT006 CATEGORY: Clinical Trials GEOGRAPHY: South Korea AUTHOR: Vidhi Upadhyay

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South Korea Oncology Clinical Trials Market Executive Summary

The South Korea Oncology Clinical Trials Market is projected to grow from $184.8 Mn in 2022 to $305.9 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022-30. South Korea had 799 registered clinical studies for medicinal treatments in 2020, 432 of which were regional trials and the rest were international trials. During the previous year, the number of both regional and international trials increased. In 2022, Korea is anticipated to have 274,488 new cancer cases and 81,277 cancer deaths. The thyroid was predicted to be the most prevalent cancer location, followed by the lung, colon and rectum, breast, and stomach. These five malignancies were predicted to account for half of the total cancer burden in Korea. Lung cancer was predicted to be the most prevalent cause of death, followed by liver, colorectal, pancreatic, and gallbladder cancers.

South Korea is a fast-expanding nation that has achieved substantial advances in medical research, particularly clinical trials for cancer. The country has several hospitals and research organizations such as National Cancer Center, Seoul National University Hospital, Samsung Medical Center & Korea Cancer Center which highly qualified medical workers make it an appealing location for clinical trials. The efficiency with which oncology clinical trials may be performed in South Korea is one of their most prominent features. The nation has a simplified regulatory framework that enables clinical studies to be approved more quickly, and it also has a huge pool of patients ready to participate in these trials. South Korea is a great place for conducting oncology clinical trials due to its well-developed infrastructure, quick regulatory procedure, and highly competent medical staff. As a result, the nation is anticipated to continue to play a prominent role in worldwide research and development of novel cancer therapies.

south korea oncology clinical trials market analysis

Market Dynamics

Market Growth Drivers

The country's well-established infrastructure and excellent medical facilities, which offer a great setting for conducting clinical trials, are significant development drivers. Moreover, the nation boasts highly competent medical personnel, including experienced oncologists and clinical researchers. Another important growth driver for oncology clinical trials in South Korea is the country's simplified regulatory procedure, which enables for clinical studies to be approved more quickly. This regulatory climate has made it simpler for foreign pharmaceutical corporations to perform clinical trials in the country, leading to a rise in the number of studies. South Korea also has a big number of patients eager to take part in clinical studies. The nation has a strong medical research culture, and patients are typically eager to contribute to the development of novel cancer cures and therapeutics.

Market Restraints

In South Korea, there are also certain limitations to the oncology clinical trials market expansion. Competition from other nations, such as China and India, who are also quickly increasing their medical research infrastructure and regulatory systems, is one of the most significant ones. Moreover, due to the country's tiny population and restricted geographic region, it may be difficult to recruit enough individuals for some kinds of clinical studies. Lastly, some people are concerned about the possibility of conflicts of interest between researchers and pharmaceutical corporations that fund clinical studies.

Competitive Landscape

Key Players

Pfizer Inc.
Roche Holding AG
Novartis International AG
AstraZeneca plc
Merck & Co., Inc.
Eli Lilly and Company
Sanofi S.A.
Bristol Myers Squibb Company
SK Biopharmaceuticals (KOR)
Genexine (KOR)

Notable Insights

November 2022, SK Biopharmaceuticals, based in South Korea, announced that the state-run Korea Drug Development Fund (KDDF) decided to support and fund the company's development of SKL27969, which is being evaluated as a possible therapy for patients with advanced solid tumors, expanding SK Biopharmaceuticals' area of expertise into oncology
August 2022, Genexine, a publicly traded, clinical-staged Korean biopharmaceutical company, revealed that the first patient in a phase 2 clinical trial using triple combination therapy in patients with recurrent/metastatic HNSCC has been dosed
April 2022, Tucatinib, a breast cancer therapy, has been approved for phase 3 clinical trials in South Korea. Tucatinib is an oral breast cancer therapy developed by Seattle Genetics

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 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

6. Methodology and Scope

Oncology Clinical Trials Market Segmentation

By Phase (Revenue, USD Billion):

Phase I
Phase II
Phase III
Phase IV

By Study Design Outlook (Revenue, USD Billion):

Epilepsy
Parkinson's Disease (PD)
Huntington's Disease
Stroke
Traumatic Brain Injury (TBI)
Amyotrophic Lateral Sclerosis (ALS)
Muscle regeneration
Others

By Indication Outlook (Revenue, USD Billion):

Interventional
Observational
Expanded Access

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.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

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.