South Korea Gene Therapy on Neurological Diseases Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 2.4 Billion by 2030, growing at a CAGR of 19.0% from 2024 to 2030.
South Korea's gene therapy sector is experiencing significant growth, particularly in applications targeting neurological diseases. The market, valued at approximately USD 6.5 million in 2023, is projected to reach USD 9.6 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.7% from 2024 to 2030. citeturn0search2 This expansion is driven by advancements in biotechnology, supportive government policies, and increasing collaborations between public institutions and private biotech firms.
In 2019, the South Korean government enacted the "Act on the Safety and Support for Advanced Regenerative Medicine and Advanced Biological Products," effective since August 2020. This legislation established a comprehensive framework for the regulation and promotion of gene therapies, including provisions for expedited and conditional approvals, safety management systems, and long-term follow-up protocols. citeturn0search0 Such regulatory measures have streamlined the approval process, facilitating faster market entry for innovative therapies.
A notable example is Helixmith's Engensis (VM202), a gene therapy targeting diabetic peripheral neuropathy (DPN). Engensis has received Regenerative Medicine Advanced Therapy (RMAT) designation from the U.S. FDA, highlighting its potential in addressing unmet medical needs in neurological conditions. citeturn0search12 This designation underscores the global recognition of South Korean advancements in gene therapy.
The government's commitment extends beyond regulation. Initiatives such as the K-Bio Vaccine Fund, launched in July 2022 with a pool of USD 300 million, aim to support the development of innovative drugs and vaccines. Additionally, the Ministry of Trade, Industry, and Energy has earmarked approximately USD 461 million for projects enhancing manufacturing technologies related to advanced biological products. citeturn0search0 These investments are crucial for fostering a robust infrastructure capable of supporting large-scale production and distribution of gene therapies.
International collaborations further bolster the market. In May 2024, CIC Innovation Services LLC and CHA BIO GROUP signed a Memorandum of Understanding to establish an innovation center focusing on cell and gene biobanking. This partnership aims to create a biotech-focused ecosystem, providing companies with access to specialized equipment, mentorship, and global networks, thereby accelerating innovation in gene therapy. citeturn0search4
For industries aiming to enter or expand within South Korea's gene therapy market, understanding the regulatory landscape is paramount. Compliance with the Act on Advanced Regenerative Medicine, adherence to Good Manufacturing Practice (GMP) guidelines, and engagement with the Advanced Regenerative Medicine and Advanced Biological Products Policy Review Committee are essential steps. Furthermore, leveraging government incentives and participating in public-private partnerships can provide strategic advantages.
In summary, South Korea's gene therapy market, especially concerning neurological diseases, presents substantial opportunities. The synergy of progressive regulations, significant government investments, and active international collaborations creates a conducive environment for innovation and growth in gene therapy applications.
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Biogen
Novartis
Sarepta Therapeutics
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 Gene Therapy on Neurological Diseases Market
Antisense Oligonucleotides
Adeno-associated Virus Vectors
CRISPR-based Gene Editing
DNA Plasmid
Parkinson’s Disease
Alzheimer’s Disease
Huntington’s Disease
Amyotrophic Lateral Sclerosis (ALS)
Multiple Sclerosis
Viral Delivery
Non-viral Delivery
Therapeutic Gene Therapy
Preventive Gene Therapy
Hospitals
Research Institutes
Pharmaceutical and Biotech Companies
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Gene Therapy on Neurological Diseases 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 Gene Therapy on Neurological Diseases Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Gene Therapy on Neurological Diseases Market, By Type
6. South Korea Gene Therapy on Neurological Diseases Market, By Application
7. South Korea Gene Therapy on Neurological Diseases Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Gene Therapy on Neurological Diseases Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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