South Korea Drugs For Coronavirus Infection Market was valued at USD 2 Billion in 2022 and is projected to reach USD 4.5 Billion by 2030, growing at a CAGR of 10% from 2024 to 2030.
South Korea's pharmaceutical industry has played a pivotal role in the global fight against COVID-19, particularly through the production and distribution of drugs for coronavirus infection. As of 2023, the nation's pharmaceutical market was valued at approximately 31.7 trillion South Korean won, reflecting a consistent growth trajectory over the past decade. citeturn0search4**Key Contributions and Developments:**- **Domestic Vaccine Production:** SK Bioscience, in collaboration with the University of Washington's Institute for Protein Design, developed Skycovione, South Korea's first homegrown COVID-19 vaccine. This vaccine utilizes GSK's AS03 adjuvant technology and demonstrated safety and efficacy in phase III trials involving over 4,000 participants. citeturn0search12- **Generic Drug Manufacturing for Global Distribution:** South Korean companies have been instrumental in producing generic versions of COVID-19 treatments for low- and middle-income countries. Celltrion and Dongbang FTL secured licenses to produce Pfizer's oral COVID-19 treatment, aiming to supply up to 95 nations. Similarly, Celltrion, Hanmi Pharm, and Dongbang FTL were among 27 global drugmakers chosen to produce Merck's COVID-19 pill, molnupiravir, for 105 countries. citeturn0search2turn0search0- **Challenges in Therapeutic Development:** Despite initial efforts, several South Korean biotech firms, including CrystalGenomics and Chong Kun Dang Group, ceased the development of COVID-19 therapeutics. Factors contributing to this decision included the transition of COVID-19 to an endemic phase, reduced feasibility, and challenges in conducting clinical trials due to geopolitical issues and volunteer recruitment difficulties. citeturn0search1**Industry Requirements and Implications:**The rapid mobilization of South Korea's pharmaceutical sector in response to the pandemic underscores the industry's capacity for innovation and global collaboration. To sustain and enhance this role, the industry must focus on:- **Regulatory Agility:** Streamlining approval processes to expedite the development and distribution of essential medicines.- **Global Partnerships:** Fostering collaborations with international organizations and pharmaceutical companies to expand the reach of South Korean-manufactured treatments.- **Investment in Research and Development:** Allocating resources towards the discovery of novel therapeutics and vaccines to address current and future health challenges.South Korea's proactive approach in the "Drugs For Coronavirus Infection Market" not only highlights its pharmaceutical prowess but also sets a precedent for addressing global health crises through innovation, collaboration, and strategic industry practices.
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Organic Vaccines
Phelix Therapeutics
NanoViricides
Humabs BioMed
AstraZeneca
Inovio Pharmaceuticals
Novavax
Hemispherx Biopharma
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 Drugs For Coronavirus Infection Market
Antivirals
Monoclonal Antibodies
Corticosteroids
Immunomodulators
Vaccines
Oral
Intravenous
Inhalation
Intramuscular
Topical
Prescription Drugs
Over-the-Counter (OTC) Drugs
Research and Development Drugs
Age Group
Gender
Comorbid Conditions
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Government Healthcare Facilities
Wholesale Distributors
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Drugs For Coronavirus Infection 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 Drugs For Coronavirus Infection Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Drugs For Coronavirus Infection Market, By Type
6. South Korea Drugs For Coronavirus Infection Market, By Application
7. South Korea Drugs For Coronavirus Infection Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Drugs For Coronavirus Infection Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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