The South Korean government will continue to enforce price pressures on pharmaceuticals as a means to contain the escalating healthcare costs brought on by the country's ageing population. This is particularly as other avenues - including shifting the healthcare cost burden onto consumers - will remain more subdued as private expenditure already accounts for a large portion of total healthcare spending. Moreover, South Korea has developed multiple price control mechanisms that it can leverage upon to reduce pharmaceutical prices.
Full Report Details at
- http://www.fastmr.com/prod/1038293_south_korea_pharmaceuticals.aspx?afid=301
Headline Expenditure Projections
Pharmaceuticals: KRW16,590bn (USD15.8bn) in 2014 to KRW17,117bn (USD15.6bn) in 2015; +3.2% in local currency terms and -1.2% in US dollar terms. Forecast unchanged from previous quarter.
Healthcare: KRW108,117.1bn (USD102.7bn) in 2014 to KRW114,226.3bn (USD103.9bn) in 2015; +5.7% in local currency terms and +1.1% in US dollar terms. Forecast slightly unchanged from previous quarter.
Risk/Reward Indices
In Q4 2015, South Korea ranks second out of the 19 countries surveyed in the Asia Pacific region. South Korea's score for its Rewards variable is high, indicating the country's favourable longer-term standing in terms of its pharmaceutical market development. However, we note that Risks - particularly in relation to pharmaceutical pricing and reimbursement - will remain present, especially as the population ages and requires more public sector resources.
The South Korea Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's South Korea Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the South Korea pharmaceutical and healthcare industry.
Key Benefits
* Benchmark BMI's pharmaceutical and healthcare market forecasts for South Korea, to test other views - a key input for successful budgeting and strategic business planning in the Korean pharmaceutical and healthcare market.
* Target business opportunities and risks in the Korean pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in South Korea.
* Assess the activities, strategy and market position of your competitors
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