South Korea Acotiamide API Market | By Type
Acotiamide API Market Revenue was valued at USD 150 Million in 2024 and is estimated to reach USD 300 Million by 2033, growing at a CAGR of 8.5% from 2026 to 2033.
South Korea's active pharmaceutical ingredients (API) market has experienced significant growth, driven by strategic investments in research and development (R&D), expansion of manufacturing facilities, and supportive government policies. The country's focus on enhancing domestic API production aims to reduce reliance on imports and establish South Korea as a global leader in the pharmaceutical industry.
The increasing demand for generic drugs has been a major catalyst for the expansion of the API market in South Korea. Generic drugs account for approximately 60% of the pharmaceutical market, necessitating a robust supply of APIs to meet production needs. This surge in demand has prompted domestic companies to invest heavily in API manufacturing capabilities. For instance, ST Pharm Co. has initiated the construction of its second oligonucleotide manufacturing plant in Banwol, Gyeonggi Province, aiming to more than double its production capacity by 2026. citeturn0search1
Similarly, Yuhan Chemical Inc. is expanding its API production by constructing a new facility in Hwaseong, Gyeonggi Province, focusing on APIs for AIDS and hepatitis B treatments. SK biotek has also completed the expansion of its M3 plant in Sejong, increasing production capacity by over 50%, with plans for further expansion. citeturn0search1
The South Korean government has played a pivotal role in propelling the API market forward through various incentives and programs. These initiatives include providing low-interest loans for facility expansions, offering tax breaks for R&D investments, and simplifying regulations to attract multinational clinical trials. The government's commitment to fostering the pharmaceutical sector is evident in its annual expenditure of over $2 billion through the Ministry of Trade, Industry, and Energy to support strategic emerging sectors like bio/pharma. citeturn0search0
Despite these advancements, challenges persist, particularly concerning the reliance on imported APIs. In 2023, South Korea's self-sufficiency rate for APIs plummeted to 11.9%, highlighting the need for increased domestic production to mitigate vulnerabilities in the global supply chain. The dominance of China and India in API supply underscores the importance of South Korea's efforts to bolster its manufacturing capabilities. citeturn0search1
The regulatory framework, overseen by the Ministry of Food and Drug Safety (MFDS), ensures that APIs meet stringent quality and safety standards. The Drug Master File (DMF) system facilitates the registration process, allowing manufacturers to protect confidential information while complying with regulatory requirements. citeturn0search7
In conclusion, South Korea's API market is on an upward trajectory, driven by the growing demand for generic drugs, substantial investments in R&D and manufacturing, and proactive government support. Addressing challenges related to import dependence and maintaining stringent quality standards will be crucial for South Korea to solidify its position as a global leader in the API industry.
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Sun Pharmaceutical Industries Ltd.
Metrochem API Private Limited
Precise Group
Achemo
Virchow Group
Virchow Healthcare Pvt.
Venkatasai
Conscientia Industrial Co.
Ltd
Hunan Warrant Chiral Pharmaceutical Co.
Ltd
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Acotiamide API Market
Pharmaceutical Manufacturers
Research Institutions
Contract Manufacturing Organizations (CMOs)
Oral Tablets
Capsules
Injectables
Liquid Formulations
Treatment of Functional Dyspepsia
Management of Gastroparesis
Other Gastrointestinal Disorders
Direct Sales
Online Pharmacies
Wholesale Distributors
Retail Pharmacies
Synthetic API
Biotechnology-based API
Natural Extracts
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Acotiamide API Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Acotiamide API Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Acotiamide API Market, By Type
6. South Korea Acotiamide API Market, By Application
7. South Korea Acotiamide API Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Acotiamide API Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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