South Korean Pharmaceutical Market to Grow Slowly to $20.4 Billion by 2020

PUNE, India, May 20, 2016 /PRNewswire-iReach/ -- In 2015, South Korea's population was approximately at 51.2 million. It has one of the world's highest population densities. The South Korean government has been making continuous efforts to strengthen the economy to ensure long-term growth, and the pharmaceutical market is seen as a key industry for the country's future growth. To support this industry, the South Korean regulatory authorities recently made changes to the regulatory bodies overseeing the pharmaceutical and wider medical sectors, to provide a transparent, strong and efficient regulatory system to facilitate faster approval of pharmaceutical products and medical devices.

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The South Korean pharmaceutical market is one of the largest in Asia, estimated to be worth $18.2 billion in 2015 and expected to reach $20.4 billion by 2020. The market grew nominally at a Compound Annual Growth Rate (CAGR) of 2.4% over the 2008-2020 period. The medical device market was valued at $4.4 billion in 2008 and is expected to reach approximately $6.5 billion by 2020, at a projected CAGR of 6%. These positive trends can primarily be attributed to -

- An increasing elderly population in South Korea, leading to increases in disease incidence and prevalence as well as higher need for long-term care and medical devices

- Increasing awareness in the medical community and the general population regarding early disease detection and diagnosis, leading to higher rates of adoption of treatments and healthcare

Get Complete Report Details @ https://www.wiseguyreports.com/reports/countryfocus-healthcare-regulatory-and-reimbursement-landscape-south-korea .

The industry analysis specialist has released its latest report, "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - South Korea". The report is an essential source of information and analysis on the healthcare, regulatory and reimbursement landscape in South Korea. It identifies the key trends in the healthcare market and provides insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure of South Korea. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical and medical device markets.

The report provides information on the healthcare, regulatory, and reimbursement landscape in South Korea, and includes - 
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers 
- Profiles and SWOT analyses of the major players in the pharmaceutical market (Yuhan Corporation, Green Cross Corporation, Dong-A Pharmaceutical, Hanmi Pharmaceutical, and Daewoong Pharmaceuticals) and the medical device market (Siemens Healthcare, Johnson & Johnson, GE Healthcare, Baxter International, Philips Healthcare) 
- An insightful review of the reimbursement and regulatory landscape, of which analysis includes details of the healthcare reimbursement process, the regulatory agencies and the approval processes for new drugs and medical devices 
- Detailed analysis of the political and economic environment, covering economic indicators, demographics, healthcare infrastructure and healthcare expenditure 
- An overview of the opportunities for and challenges to growth in the South Korean healthcare market

Purchase a 1-User License Copy @ https://www.wiseguyreports.com/checkout?currency=one_user-USD&report_id=472485 .

This report provides analysis of the pharmaceutical market landscape in South Korea, and the impact of the current and emerging market access strategies used by the pharmaceutical industry for new and existing drugs. It includes annualized market data from 2008 to 2015 and forecast to 2020, and discusses the regulatory requirements, key health insurance trends, recent government healthcare reforms, and general industry trends.

Reasons to buy

This report will enhance your decision-making capability by allowing you to - 
- Develop business strategies by understanding the trends shaping and driving South Korea's healthcare market 
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to impact the healthcare market in the future 
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of various competitors 
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership 
- Identify, understand, and capitalize on the opportunities and challenges in South Korea's healthcare market

Inquire more about this report@ https://www.wiseguyreports.com/enquiry/countryfocus-healthcare-regulatory-and-reimbursement-landscape-south-korea.

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