South Korea SGLT2 Inhibitors Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 1.2 Billion by 2030, growing at a CAGR of 17.0% from 2024 to 2030.
The South Korea SGLT2 Inhibitors market has seen substantial growth in recent years, driven by the increasing demand for diabetes treatments and heart failure management. Sodium-glucose co-transporter 2 (SGLT2) inhibitors are a class of medications that help manage type 2 diabetes and chronic kidney disease by inhibiting the SGLT2 protein in the kidneys. This results in the reduction of blood glucose levels and aids in the prevention of kidney damage, making them vital for diabetic patients in South Korea. The growing prevalence of diabetes in the country, combined with advancements in healthcare technology, has created a ripe environment for the expansion of the SGLT2 inhibitors market.
One of the key applications of SGLT2 inhibitors in South Korea is their role in diabetes management. As the number of individuals diagnosed with type 2 diabetes increases, the demand for effective treatment options is rising. SGLT2 inhibitors, like canagliflozin and empagliflozin, have become first-line treatments due to their ability to lower blood sugar levels and offer additional benefits such as weight loss and blood pressure reduction. Moreover, recent studies have revealed their potential in treating heart failure, even in patients without diabetes, further expanding their use in South Korea's healthcare sector.
From an industry perspective, the SGLT2 inhibitors market has attracted significant attention from pharmaceutical companies. These companies are working on improving the efficiency of existing drugs, ensuring better patient compliance, and lowering side effects. This has led to partnerships, collaborations, and an increase in research and development (R&D) activities in the South Korean healthcare industry. Additionally, regulatory bodies have played a pivotal role in facilitating the approval and market entry of new SGLT2 inhibitor drugs, making them more accessible to patients in need.
The requirement for SGLT2 inhibitors in South Korea’s healthcare industry is driven by both demographic and economic factors. With an aging population, the need for innovative treatments to combat chronic diseases, such as diabetes and heart disease, has intensified. Moreover, rising healthcare expenditures are pushing both private and public sectors to adopt cost-effective, long-term therapeutic solutions like SGLT2 inhibitors, which promise to reduce the overall burden on the healthcare system by preventing complications linked to diabetes and kidney disease.
In summary, the South Korea SGLT2 Inhibitors market is on the rise, fueled by the increasing prevalence of diabetes and heart-related diseases. With advancements in drug development and a growing understanding of their potential, SGLT2 inhibitors are expected to play an even larger role in shaping the future of healthcare in South Korea, benefiting both patients and the pharmaceutical industry alike.
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AstraZeneca
Hengrui Medicine
Johnson and Johnson
Kelun Pharmaceutical
Chia Tai-Tianqing Pharmaceutical
Hansoh Pharmaceutical Group
Orifarm
Starpharma
Sandoz
Bristol-Myers Squibb
Boehringer Ingelheim
Merck
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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 SGLT2 Inhibitors Market
Dapagliflozin
Empagliflozin
Canagliflozin
Ergoloid mesylates (including new generation compounds)
Others (e.g., Ipragliflozin)
Type 2 Diabetes Mellitus
Heart Failure
Chronic Kidney Disease
Weight Management
Hypertension
Oral
Injectable
Hospital pharmacies
Retail pharmacies
Online pharmacies
Clinics
Others (e.g., specialty pharmacies)
Adults (aged 18-65)
Seniors (aged 65 and above)
Pediatric populations (aged 0-17)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea SGLT2 Inhibitors 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 SGLT2 Inhibitors Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea SGLT2 Inhibitors Market, By Type
6. South Korea SGLT2 Inhibitors Market, By Application
7. South Korea SGLT2 Inhibitors Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea SGLT2 Inhibitors Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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