While the Korean medical device market dropped in size in 2020 as a result of the COVID-19 pandemic, it rebounded in 2021 to reach a record breaking height of USD 7.9 billion. Local production and exports are also experiencing significant year-on-year growth rates, as the below chart shows.
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As the following graph shows, Korea’s annual growth of pharma spending in real terms dropped ahead of the rest of the OECD.
Ten of the top contract research organizations (CROs) currently operating in South Korea, as selected by KoNECT, the Korea National Enterprise for Clinical Trials. Six domestic firms and four international…
The following table shows how Seoul has risen through the ranks of cities around the world to become the most competitive city for clinical trials of pharma products in 2012.
According to data from the Ministry of Health and Welfare, South Korea’s exports of products in the healthcare sector surged 30.9 percent in the first half from last year. Exports of…
An outline of the geographical distribution of clinical trial sites in South Korea. 184 medical institutions were designated by the Korean government as qualified clinical trial sites in December 2016,…
Compared to the OECD average growth rate for healthcare expenditure, Korea’s growth in expenditure on medicines has remained fairly flat, dropping to zero growth in 2010 for example.
Korean biotech SK Bioscience, known for bringing forward the first South Korean-developed COVID-19 vaccine, is pursuing its beyond-COVID growth strategy with a new green light for its SKYCellflu vaccine. The…
After launching the first Korean COVID-19 vaccine, SKYCovione, SK Bioscience is preparing for its next big milestone, a US subsidiary, with the appointment of two new executives who are already…
SK Bioscience’s announcement that the first batch of its domestically developed COVID vaccine has been shipped may mark a significant milestone in South Korea’s journey towards greater vaccine self-sufficiency. …
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