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South Korea<\/span><\/h1>\n

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Featured image: Photo by Kenneth Bastian<\/a> on Unsplash<\/a><\/p>\n

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The South-Korean Self-Medication & Pharma market and future outlook to 2035<\/b><\/h2>\n

South Korea\u2019s Self-Medication and Pharma market is among the world\u2019s top markets, offering golden opportunities if you are considering expanding your business internationally.\u00a0<\/span><\/i><\/p>\n

South Korea has one of the largest OTC and pharma markets in the Asian-Pacific region and ranks <\/span>11th amongst the world\u2019s consumer health and pharma markets<\/b>. The market was valued at<\/span> USD 12,9 billion in 2020 <\/b>and should reach around <\/span>USD 30,7 billion ex-factory in 2035<\/b>, according to Chameleon Pharma Consulting Group forecasts. Increases in insur\u00adance cov\u00ader\u00adage, South Korea\u2019s aging pop\u00adu\u00adla\u00adtion, and favorable gov\u00adern\u00adment ini\u00adtia\u00adtives are expected to con\u00adtinue dri\u00adving the country\u2019s growth.<\/span><\/p>\n

The country\u2019s indus\u00adtry is highly frag\u00admented, with almost all domes\u00adtic consumer health and pharma com\u00adpa\u00adnies hav\u00ading a <\/span>strong port\u00adfo\u00adlio of generic prod\u00aducts <\/b>rather than expen\u00adsive, branded drugs. The South Korean mar\u00adket is tough to enter, but clearly reg\u00adu\u00adlated IP rights, chang\u00ading demo\u00adgraph\u00adics, and gov\u00adern\u00adment sup\u00adport have con\u00adtributed to mak\u00ading the South Korean self-medication and Rx indus\u00adtry attrac\u00adtive to multi\u00ad-na\u00adtional com\u00adpa\u00adnies. South Korea has been described as a \u2018tran\u00adsi\u00adtional healthcare mar\u00adket\u2019, with high CAGRs expected in the com\u00adbined sales of OTC and Rx med\u00adi\u00adcines over the next years.<\/span><\/p>\n

The South Korean gov\u00adern\u00adment has signed <\/span>free trade agreements<\/b> with the US, Europe, and India that are aimed at improv\u00ading the IPR frame\u00adwork in the coun\u00adtry and mak\u00ading the OTC and Rx indus\u00adtry more attrac\u00adtive to for\u00adeign invest\u00adment. In gen\u00aderal, the EU-Korea Free Trade Agreement aims to strengthen trans\u00adparency in drug pric\u00ading deci\u00adsions, gov\u00adern\u00adment poli\u00adcies, and enforce\u00adment.<\/span><\/p>\n

Entering the intricate South Korean market may be a challenge for any OTC and pharma company, but Chameleon Pharma Consulting Group has years of expertise to support you in entering this market!<\/span><\/p>\n

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South Korea OTC and pharma market in 2035<\/h2>\n

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USD 30,7 Billion<\/strong><\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=\u00bb4.17.4″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb]<\/p>\n

OTC and pharma market size, ex-factory<\/p>\n

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4-5%<\/strong><\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=\u00bb4.17.4″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb]<\/p>\n

OTC and pharma market growth<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=\u00bb1″ admin_label=\u00bbNumber Counter\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb background_color=\u00bb#EEEEEE\u00bb locked=\u00bboff\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_row _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_column type=\u00bb4_4″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_text _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb locked=\u00bboff\u00bb global_colors_info=\u00bb{}\u00bb]<\/p>\n

South Korea in numbers<\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=\u00bb1_3,1_3,1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_column type=\u00bb1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_number_counter title=\u00bbTotal population \u00bb number=\u00bb 51 715 162″ percent_sign=\u00bboff\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb number_text_color=\u00bb#0B0B7A\u00bb global_colors_info=\u00bb{}\u00bb][\/et_pb_number_counter][\/et_pb_column][et_pb_column type=\u00bb1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_number_counter title=\u00bbMale\/Female\u00bb number=\u00bb1.01″ percent_sign=\u00bboff\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb number_text_color=\u00bb#0B0B7A\u00bb global_colors_info=\u00bb{}\u00bb][\/et_pb_number_counter][\/et_pb_column][et_pb_column type=\u00bb1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_number_counter title=\u00bbPopulation growth \u00bb number=\u00bb0.26%\u00bb percent_sign=\u00bboff\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb number_text_color=\u00bb#0B0B7A\u00bb global_colors_info=\u00bb{}\u00bb][\/et_pb_number_counter][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=\u00bb1_3,1_3,1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_column type=\u00bb1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_number_counter title=\u00bbBirth rate\u00bb number=\u00bb6.89\/1000″ percent_sign=\u00bboff\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb number_text_color=\u00bb#0B0B7A\u00bb global_colors_info=\u00bb{}\u00bb][\/et_pb_number_counter][\/et_pb_column][et_pb_column type=\u00bb1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_number_counter title=\u00bbMortality rate \u00bb number=\u00bb6.96\/1000″ percent_sign=\u00bboff\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb number_text_color=\u00bb#0B0B7A\u00bb global_colors_info=\u00bb{}\u00bb][\/et_pb_number_counter][\/et_pb_column][et_pb_column type=\u00bb1_3″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_number_counter title=\u00bbLife expectancy\u00bb number=\u00bb82.78 years\u00bb percent_sign=\u00bboff\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb number_text_color=\u00bb#0B0B7A\u00bb global_colors_info=\u00bb{}\u00bb][\/et_pb_number_counter][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=\u00bb1″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb locked=\u00bboff\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_row _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_column type=\u00bb4_4″ _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb global_colors_info=\u00bb{}\u00bb][et_pb_cta title=\u00bbInterested in this market? \u00bb button_url=\u00bbhttps:\/\/www.chameleon-pharma.com\/about\/contacts\/\u00bb button_text=\u00bbClick Here\u00bb _builder_version=\u00bb4.16″ _module_preset=\u00bbdefault\u00bb background_color=\u00bb#0B0B7A\u00bb global_colors_info=\u00bb{}\u00bb]<\/p>\n

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We are ready to support you in\u00a0<\/span>Strategy, Marketing, Systematic International Company Partner Identification, Commercial Due Diligence, Business Development, Acquisition Search, Regulatory\u00a0projects,<\/span>\u00a0and more in order to ensure your growth.<\/span><\/p>\n<\/div>\n<\/div>\n

[\/et_pb_cta][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

South KoreaFeatured image: Photo by Kenneth Bastian on UnsplashThe South-Korean Self-Medication & Pharma market and future outlook to 2035 South Korea\u2019s Self-Medication and Pharma market is among the world\u2019s top markets, offering golden opportunities if you are considering expanding your business internationally.\u00a0 South Korea has one of the largest OTC and pharma markets in the […]<\/p>\n","protected":false},"author":7,"featured_media":0,"parent":8782,"menu_order":111,"comment_status":"open","ping_status":"open","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"[caption id=\"attachment_902\" align=\"alignleft\" width=\"300\"] Temple South Korea<\/a> by Paul J Everett<\/a> with CC<\/a>[\/caption]\r\n\r\nSouth Korea has one of the largest OTC and Pharma mar\u00adkets in the Asia-Pacific region and ranks 13^{th<\/sup> among the world\u2019s phar\u00adma\u00adceu\u00adti\u00adcal mar\u00adkets<\/strong>. South Korea\u2019s Pharma mar\u00adket was val\u00adued at US $20 billion in 2012, having grown from US $14.5 billion in 2006 at a CAGR of 5.5%. It is expected to grow at a CAGR of 7.6% to reach US $31.04 billion by 2018. Increases in insur\u00adance cov\u00ader\u00adage, South Korea\u2019s age\u00ading pop\u00adu\u00adla\u00adtion and favourable gov\u00adern\u00adment ini\u00adtia\u00adtives are expected to con\u00adtinue dri\u00adving the country\u2019s growth.\r\n\r\nThe country\u2019s indus\u00adtry is highly frag\u00admented, with almost all domes\u00adtic phar\u00adma\u00adceu\u00adti\u00adcal com\u00adpa\u00adnies hav\u00ading a strong port\u00adfo\u00adlio of generic prod\u00aducts rather than expen\u00adsive, branded drugs. The South Korean mar\u00adket is tough to enter, but clearly reg\u00adu\u00adlated IP rights, chang\u00ading demo\u00adgraph\u00adics and gov\u00adern\u00adment sup\u00adport have con\u00adtributed to mak\u00ading the South Korean phar\u00adma\u00adceu\u00adti\u00adcal indus\u00adtry attrac\u00adtive to multi\u00ad-na\u00adtional com\u00adpa\u00adnies<\/strong>. South Korea has been described as a \u2018tran\u00adsi\u00adtional phar\u00adma\u00adceu\u00adti\u00adcal mar\u00adket\u2019, with high single-digit CAGRs expected in the com\u00adbined sales of OTC and Rx med\u00adi\u00adcines over the next five years.\r\n\r\nOTC med\u00adi\u00adcines have been a grow\u00ading sector in South Korea due to a ten\u00addency for self-prescription among patients. There are around 21,000 phar\u00adma\u00adcies in South Korea, with Boots and Wat\u00adsons among them. The South Korean gov\u00adern\u00adment has signed free trade agreements with the US, Europe and India that are aimed at improv\u00ading the IPR frame\u00adwork in the coun\u00adtry and mak\u00ading the phar\u00adma\u00adceu\u00adti\u00adcal indus\u00adtry more attrac\u00adtive to for\u00adeign invest\u00adment.\r\n\r\nIn gen\u00aderal, the EU-Korea Free Trade Agreement aims to strengthen trans\u00adparency in drug pric\u00ading deci\u00adsions, gov\u00adern\u00adment poli\u00adcies and enforce\u00adment.<\/strong>","_et_gb_content_width":"","footnotes":"","_wp_rev_ctl_limit":""},"class_list":["post-8808","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/pages\/8808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/comments?post=8808"}],"version-history":[{"count":12,"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/pages\/8808\/revisions"}],"predecessor-version":[{"id":17467,"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/pages\/8808\/revisions\/17467"}],"up":[{"embeddable":true,"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/pages\/8782"}],"wp:attachment":[{"href":"https:\/\/www.chameleon-pharma.com\/es\/wp-json\/wp\/v2\/media?parent=8808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}}