South Korea Biologics Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 7.06% (2024-2032)
The South Korea biologics market is expanding rapidly, owing to the growing investments in biotechnology as well as pharmaceutical research. According to the latest report by IMARC Group, the market size is projected to exhibit a growth rate (CAGR) of 7.06% during 2024-2032.
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South Korea Biologics Industry Trends and Drivers:
The South Korea biologics market is expanding rapidly, owing to the growing investments in biotechnology as well as pharmaceutical research. Besides this, advanced biological treatments are necessary for chronic diseases like diabetes, cancer, and autoimmune disorders, which are a major cause of the increase in prevalence. Moreover, the government bodies of South Korea, along with private pharmaceutical companies, are heavily investing in research and development (R&D) of biologics to cater to the expansion of the South Korea biologics market.
In line with these factors, the strong focus of the nation on innovation and support for biosimilars, as well as an efficient regulatory framework, has led to the rapid development of both novel biologic therapies and cost-effective alternatives to existing drugs. This focus is further supported by a well-established manufacturing infrastructure, making South Korea a hub for biologics production in the region.
Emerging trends in the South Korea biologics market include a growing interest in cell and gene therapies, with companies increasingly focusing on personalized medicine solutions. Furthermore, the evolving usage of artificial intelligence and advanced analytics to accelerate drug discovery and improve clinical trials is also transforming the sector. Another major trend is the rise in partnerships between domestic and international companies to drive biologics research and global expansion.
Apart from these factors, sustainable production practices and eco-friendly manufacturing methods are becoming more prominent as companies aim to reduce their environmental impact. Consequently, as the government authorities continue to foster a conducive environment for R&D and production, the South Korea biologics market is expected to expand further, positioning the country as a leader in the global biologics industry.
We explore the factors propelling the South Korea biologics market growth, including technological advancements, consumer behaviors, and regulatory changes.
South Korea Biologics Industry Segmentation:
The report has segmented the market into the following categories:
Source Insights:
- Microbial
- Mammalian
- Others
Product Insights:
- Monoclonal Antibodies
- Vaccines
- Recombinant Proteins
- Antisense, RNAi and Molecular Therapy
- Others
Disease Insights:
- Oncology
- Immunological Disorders
- Cardiovascular Disorders
- Hematological Disorders
- Others
Manufacturing Insights:
- Outsourced
- In-House
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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