Boston, MA -- (SBWIRE) -- 04/16/2014 -- GlobalData, 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. It is built using data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData's team of industry experts.
In 2013, South Korea's population was approximately at 50.2 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. The South Korean pharmaceutical market is one of the largest in Asia, estimated to be worth $18.6 billion in 2013 and expected to reach $24.3 billion by 2020. The market grew nominally at a Compound Annual Growth Rate (CAGR) of 3.9% over the 2008-2020 period. The medical device market was valued at $3.3 billion in 2008 and is expected to reach approximately $6.3 billion by 2020, at a projected CAGR of 5.5%. These positive trends can primarily be attributed to:

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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.

Scope

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 (Dong-A Pharmaceutical, Yuhan Corporation, Green Cross Corporation, Hanmi Pharmaceutical, and Daewoong Pharmaceuticals) and the medical device market (Siemens Healthcare, Abbott Laboratories, Baxter International, F-Hoffman La Roche and GE Healthcare)

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