Immunosuppressants - South Korea

South Korea

Highlights

In South Korea, the revenue in the Immunosuppressants market is estimated to reach US$451.40m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 15.75%, leading to a market volume of US$937.70m by 2029.
When compared globally, United States is expected to generate the highest revenue, with US$35.47bn in 2024.
In South Korea, the demand for immunosuppressants is rapidly increasing due to the growing prevalence of autoimmune diseases.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Immunosuppressants market in South Korea has been experiencing steady growth in recent years.

Customer preferences: One of the main factors driving the growth of the Immunosuppressants market in South Korea is the increasing prevalence of autoimmune diseases. As the population ages and lifestyles change, the incidence of autoimmune diseases such as rheumatoid arthritis and lupus is on the rise. As a result, demand for Immunosuppressants has been increasing steadily.

Trends in the market: In addition to the growing prevalence of autoimmune diseases, there are several other trends driving the Immunosuppressants market in South Korea. One of these is the increasing availability of new and innovative Immunosuppressants drugs. As pharmaceutical companies continue to invest in research and development, new drugs are being introduced to the market that offer improved efficacy and fewer side effects. This is driving demand for Immunosuppressants in South Korea, as patients seek out the latest and most effective treatments.Another trend driving the Immunosuppressants market in South Korea is the growing popularity of biosimilars. Biosimilars are drugs that are designed to be similar to existing biologic drugs, but are produced by different manufacturers. Biosimilars are generally less expensive than their branded counterparts, and as a result, they are becoming increasingly popular in South Korea. This is driving down the cost of Immunosuppressants, making them more accessible to a wider range of patients.

Local special circumstances: One of the key drivers of the Immunosuppressants market in South Korea is the country's well-developed healthcare system. South Korea has a highly educated population, and a strong emphasis on preventative healthcare. This has led to a high level of demand for Immunosuppressants, as patients seek out the latest and most effective treatments for autoimmune diseases.

Underlying macroeconomic factors: The Immunosuppressants market in South Korea is also being driven by broader macroeconomic trends. South Korea is a rapidly developing country, with a growing middle class and a strong economy. As a result, there is a high level of demand for healthcare services, including Immunosuppressants. In addition, the government has been investing heavily in healthcare infrastructure, which is helping to drive growth in the Immunosuppressants market. Overall, the Immunosuppressants market in South Korea is expected to continue to grow in the coming years, driven by a combination of demographic, economic, and healthcare-related factors.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.