As per MRFR analysis, the South Korea Biologic Therapy Market Size was estimated at 7.46 (USD Billion) in 2023.The South Korea Biologic Therapy Market Industry is expected to grow from 8.5(USD Billion) in 2024 to 12.5 (USD Billion) by 2035. The South Korea Biologic Therapy Market CAGR (growth rate) is expected to be around 3.568% during the forecast period (2025 - 2035).
Key South Korea Biologic Therapy Market Trends Highlighted
The South Korea Biologic Therapy Market is experiencing a notable shift towards the increasing adoption of personalized medicine, reflecting a global trend that emphasizes tailored treatments based on individual patient profiles. This trend is driven by advancements in genomics and biotechnology, which enable healthcare providers to design biologic therapies that target specific pathways in diseases, particularly in areas like oncology and autoimmune disorders. Additionally, the South Korean government supports the growth of the biologic therapy sector through initiatives that aim to enhance research, development, and production capabilities.
These efforts are complemented by increased funding for biotech startups and collaboration between academic institutions and industry players, fostering innovation within the field.Another important trend is the rising demand for biosimilars as a cost-effective alternative to original biologic products. South Korea has established a favorable regulatory environment that encourages the development of biosimilars, making it an attractive landscape for both local and international pharmaceutical companies. This expansion presents an opportunity for companies to explore partnerships that facilitate research and expedite the market entry of these therapies.
Moreover, there is a growing focus on the expansion of public awareness regarding biologic therapies, resulting in a more educated patient population that is actively seeking information on available treatment options.This increased awareness, fueled by both healthcare professionals and patient advocacy groups, offers opportunities for companies to educate and engage potential patients effectively. Overall, the South Korea Biologic Therapy Market reflects an environment rich with potential, driven by innovation, government support, and an informed consumer base.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
South Korea Biologic Therapy Market Drivers
Rising Incidence of Chronic Diseases
The South Korea Biologic Therapy Market Industry is being significantly driven by the increasing prevalence of chronic diseases, particularly autoimmune disorders and cancer. Recent data from the Ministry of Health and Welfare of South Korea indicates that the number of reported cancer cases has increased by 20% over the last decade, with approximately 230,000 new cases expected annually.
Additionally, organizations such as the Korean Cancer Association highlight the need for more advanced treatment options as traditional therapies often fall short for many patients.The rise in chronic disease prevalence necessitates innovative biological therapies, leading to an expanded market for such treatments in South Korea, providing opportunities for both local and international biotech companies to invest and further develop biologic therapies specific to these conditions.
Advances in Technology and Research
Technological advancements in biotechnology and Research and Development (R&D) are vital drivers for the South Korea Biologic Therapy Market Industry. The country has made significant investments in biopharmaceutical R&D, with the South Korean government increasing its budget for biotechnology research by 25% over the past five years.
The Korea Biotechnology Industry Organization (KOBIO) reports that over 300 biotech firms are actively engaged in developing biologic therapies, fostering an ecosystem of innovation.These advancements are likely to streamline the production processes, reduce costs, and enhance the efficacy of biologic therapies, thereby encouraging their adoption in clinical settings and supporting long-term market growth.
Supportive Regulatory Environment
South Korea has established a supportive regulatory framework to facilitate the approval and commercialization of biologic therapies. The Ministry of Food and Drug Safety (MFDS) has implemented expedited approval processes for innovative therapies, significantly reducing the typical time frame for bringing new biologics to market.
This approach not only encourages local companies but also attracts foreign investments, allowing international pharmaceutical giants to enter the South Korea Biologic Therapy Market Industry.Recent updates in the regulatory landscape reflect a commitment to industry growth, as evidenced by the fact that in 2022, over 40 new biological products were approved for use within the country, showcasing a proactive stance on promoting advanced medical treatments.
South Korea Biologic Therapy Market Segment Insights
Biologic Therapy Market Therapy Type Insights
The South Korea Biologic Therapy Market showcases a diverse landscape within the Therapy Type segment, reflecting a significant adoption of innovative treatments geared towards addressing various health issues. Monoclonal antibodies have emerged as a key player, known for their precision in targeting specific cells, which plays a critical role in treating cancers and autoimmune diseases. The development of these therapeutics is supported by growing investments in Research and Development, coupled with a robust regulatory framework aimed at expediting the approval of new therapies.In recent years, the vaccines segment has gained unprecedented momentum bolstered by public health initiatives and the government's commitment to increasing vaccination rates, especially following the COVID-19 pandemic.
This has not only enhanced awareness but also fostered technological advancements leading to the development of more effective vaccines. Cell therapy is also gaining traction in South Korea, with its ability to regenerate damaged tissues and organs, making it a promising option for various degenerative diseases. The increasing prevalence of chronic illnesses and the aging population in South Korea drive the demand for such advanced treatments, posing significant opportunities for growth in the sector.
Gene therapy, on the other hand, shows significant promise as a breakthrough technique to treating genetic illnesses by directly changing the disease-causing genes. The continuous research and trial efforts highlight the importance and potential of these medicines for improving patient outcomes. Collectively, these Therapy Type categories represent the dynamic evolution of the South Korean Biologic Therapy Market, reflecting technical advancements and the rising shift toward individualized medicine that meets the demands of the people.
The market is underscored by a collaborative approach among stakeholders including healthcare providers, research institutions, and policy makers, driving innovation and ensuring that South Korea remains at the forefront of biologic therapy advancements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Biologic Therapy Market Application Insights
The South Korea Biologic Therapy Market, particularly within the Application segment, showcases a comprehensive array of therapeutic areas, including Oncology, Autoimmune Diseases, Infectious Diseases, and Cardiovascular Diseases. Oncology has emerged as a significant contributor, driven by increasing cancer incidence rates, which necessitate advanced treatments. Autoimmune Diseases represent another vital area, attributed to rising awareness and prevalence, reflecting the region's healthcare shift towards personalized treatment.
On the other hand, the Infectious Diseases segment benefits from South Korea's robust public health infrastructure and advanced research capabilities, ensuring timely responses to emerging pathogens.Cardiovascular Diseases continue to pose a considerable health challenge, with biologic therapies becoming crucial in managing chronic conditions associated with this segment. Overall, the diversity of applications in the South Korea Biologic Therapy Market highlights the growing demand for specialized treatments, underpinned by substantial Research and Development investments and a supportive regulatory framework that fosters innovation. This dynamic environment ultimately enhances the prospects for market growth and drives the evolution of therapeutic strategies tailored to specific health conditions.
Biologic Therapy Market Route of Administration Insights
The South Korea Biologic Therapy Market is significantly influenced by the Route of Administration, which encompasses administration methods such as Intravenous, Subcutaneous, and Intramuscular deliveries. Intravenous administration is particularly important due to its ability to deliver larger volumes of biologic therapies rapidly into the bloodstream, ensuring immediate therapeutic effects. Conversely, Subcutaneous administration is notable for its convenience and patient compliance, allowing self-administration, which mitigates the challenges associated with hospital visits.
Intramuscular administration serves as an effective method for therapies that require slower absorption rates, thereby maintaining a prolonged therapeutic effect. In South Korea, the increasing prevalence of chronic diseases and advancements in biologic therapies are driving the demand for these various routes of administration. As healthcare systems continue to evolve, the preference for less invasive, patient-friendly routes enhances the growth potential of biologics, shaping the South Korea Biologic Therapy Market dynamics significantly. The focus on optimizing these routes not only improves treatment outcomes but also supports broader trends toward personalized medicine and enhanced patient care in the region.
Biologic Therapy Market End User Insights
The End User segment of the South Korea Biologic Therapy Market plays a crucial role in determining the overall landscape and growth potential of the industry. Hospitals are typically at the forefront of biologic therapies, offering advanced treatment options for patients with chronic and complex conditions, thus driving a significant demand for these therapies. Clinics also contribute to the market by providing outpatient care and specialized treatments, enhancing access to biologic therapies and increasing patient volume.
Additionally, Home Healthcare is gaining traction, as it allows patients to receive therapies in the comfort of their own homes, improving adherence to treatment regimens while reducing hospital readmissions.This tailored approach to patient care not only enhances the quality of life but also accommodates the aging population in South Korea, who increasingly prefer home-based solutions. Furthermore, the increasing incidence of chronic diseases and the growing emphasis on personalized medicine are further propelling the demand across all End User categories. Overall, the South Korea Biologic Therapy Market segmentation reflects a diverse landscape with each End User demonstrating significant importance in catering to the evolving healthcare needs of the population.
South Korea Biologic Therapy Market Key Players and Competitive Insights
The South Korea Biologic Therapy Market is witnessing significant growth and evolution, characterized by rising innovations, strategic collaborations, and an increasing focus on patient-centric treatments. In this vibrant landscape, various players are competing to carve out niche markets and establish their positions as key contributors to health care advancements. The current market is marked by a plethora of biologics that cater to a range of therapeutic areas, including autoimmune diseases, oncology, and infectious diseases. With stringent regulatory frameworks and an emphasis on product efficacy and safety, companies have been striving to ensure compliance while enhancing their product portfolios.
The market dynamics are being influenced by factors such as growing incidences of chronic diseases, an aging population, and increased healthcare spending, drawing attentiveness from both global and local firms aiming to leverage South Korea's robust biotechnology ecosystem.In the context of the South Korean Biologic Therapy Market, EirGenix has established a noteworthy presence, focusing on the development and manufacturing of high-quality biological products. The company's pivotal strength lies in its robust manufacturing capabilities, which allow for flexibility and scalability, ensuring a swift response to market demands.
EirGenix excels in the development of monoclonal antibodies and biosimilars, positioning itself strategically to address the growing demand for cost-effective therapeutic options. Furthermore, EirGenix's commitment to research and development emphasizes its innovative approach in the biologics field, allowing it to stay competitive and cater to evolving patient needs. The firm's effective operational strategies and partnerships with local healthcare providers have also contributed to its growing reputation in the South Korean market, enabling it to enhance its product offerings effectively.Samyang Biopharmaceuticals is a prominent player in the South Korean Biologic Therapy Market, recognized for its comprehensive portfolio of therapeutic solutions. The company specializes in biopharmaceuticals, particularly in the areas of oncology and autoimmune diseases.
Leveraging advanced technologies, Samyang's key products include innovative biologic drugs that target specific disease pathways, demonstrating its strength in precision medicine. The company is well-positioned in the market due to its strong pipeline of therapies, which are developed with a keen focus on unmet medical needs. Recent mergers and acquisitions further exemplify Samyang's strategy to bolster its market presence and expand its R&D capabilities. These strategic moves not only enhance its product offerings but also reinforce its commitment to leading advancements in biologics. With an emphasis on collaboration with academic institutions and research organizations, Samyang Biopharmaceuticals continues to thrive in South Korea's competitive landscape, underscoring its critical role in shaping the future of biologic therapies.
Key Companies in the South Korea Biologic Therapy Market Include:
South Korea Biologic Therapy Market Industry Developments
Recent developments in the South Korea Biologic Therapy Market have shown significant advancements and strategic movements among key players. In October 2023, LG Chem announced positive results from its clinical trials for a new biologic therapy, potentially enhancing its position in the market. EirGenix has also been expanding its portfolio, with new partnerships aimed at increasing accessibility to its products.
Meanwhile, SK Biopharmaceuticals reported a 15% growth in market valuation due to the successful launch of a novel therapy aimed at neurological disorders. Mergers and acquisitions have marked the recent landscape; for instance, in September 2023, Samsung Biologics completed the acquisition of a smaller biotech firm, enhancing its Production capabilities. In August 2023, Hanmi Pharmaceutical announced a partnership with Genexine for the joint development of a groundbreaking drug targeting autoimmune diseases.
The South Korean Biologic Therapy Market has been bolstered by these strategic moves along with governmental support for biopharmaceutical innovations, which includes incentives for Research and Development initiatives and funding opportunities for start-ups in this sector. These elements collectively indicate a dynamic and rapidly evolving market landscape in South Korea.
South Korea Biologic Therapy Market Segmentation Insights
Biologic Therapy Market Therapy Type Outlook
Biologic Therapy Market Application Outlook
Biologic Therapy Market Route of Administration Outlook
Biologic Therapy Market End User Outlook
Hospitals
Clinics
Home Healthcare
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 7.46(USD Billion) |
| MARKET SIZE 2024 | 8.5(USD Billion) |
| MARKET SIZE 2035 | 12.5(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 3.568% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | EirGenix, Samyang Biopharmaceuticals, SK Biopharmaceuticals, Hugel, Celltrion, LG Chem, Daewoong Pharmaceutical, Hanmi Pharmaceutical, Genexine, Green Cross Corporation, MedAccess, KB Pharmaceuticals, Samsung Biologics, Chugai Pharmaceutical |
| SEGMENTS COVERED | Therapy Type, Application, Route of Administration, End User |
| KEY MARKET OPPORTUNITIES | Rising demand for personalized medicine, Increasing investment in R&D initiatives, Growing prevalence of chronic diseases, Expanding healthcare infrastructure, Strong regulatory support for biologics |
| KEY MARKET DYNAMICS | Growing demand for targeted therapies, Increasing investment in R&D, Rising prevalence of chronic diseases, Expanding biosimilars market, Regulatory support for innovation |
| COUNTRIES COVERED | South Korea |
Frequently Asked Questions (FAQ) :
The South Korea Biologic Therapy Market is expected to be valued at 8.5 USD Billion in 2024.
By 2035, the South Korea Biologic Therapy Market is anticipated to reach a value of 12.5 USD Billion.
The market is expected to grow at a CAGR of 3.568% from 2025 to 2035.
Monoclonal Antibodies is projected to hold the largest market share, valued at 5.0 USD Billion in 2035.
Vaccines are expected to reach a market value of 3.2 USD Billion in 2035.
Key players include EirGenix, Samyang Biopharmaceuticals, SK Biopharmaceuticals, and Celltrion among others.
The Cell Therapy segment is valued at 1.5 USD Billion in 2024.
Gene Therapy is estimated to be valued at 1.7 USD Billion in 2024.
Growth opportunities stem from advancements in therapy types and increasing demand for biologics.
Challenges include regulatory hurdles and competition from biosimilars in the market.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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