South Korea Generic Drug Market Report by Therapy Area (Central Nervous System, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology, and Others), Drug Delivery (Oral, Injectables, Dermal/Topical, Inhalers), Distribution Channel (Retail Pharmacies, Hospital Pharmacies), and Region 2024-2032

South Korea Generic Drug Market Report by Therapy Area (Central Nervous System, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology, and Others), Drug Delivery (Oral, Injectables, Dermal/Topical, Inhalers), Distribution Channel (Retail Pharmacies, Hospital Pharmacies), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A16389
Buy Now

Market Overview:

South Korea generic drug market size is projected to exhibit a growth rate (CAGR) of 3.79% during 2024-2032. The implementation of favorable government initiatives, the expiration of various branded medicines, the expanding pharmaceutical industry in the country, and the escalating demand for affordable treatment plans represent some of the key factors driving the market.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Growth Rate (2024-2032) 3.79%


A generic drug is a pharmaceutical product that is equivalent to a brand-name or innovator drug in terms of its active ingredients, dosage, safety, efficacy, and intended use. However, it is typically marketed and sold under its chemical or generic name, rather than the brand name that was initially patented by the drug's manufacturer. The dosage form, strength, and route of administration of a generic drug are the same as the brand-name drug, ensuring consistent and predictable therapeutic outcomes. To be approved as a generic drug, it must demonstrate bioequivalence to the brand-name drug. This means that the generic drug must have the same rate and extent of absorption in the body as the brand-name drug, leading to similar therapeutic effects. Generic drugs are typically more affordable than brand-name drugs. This cost savings is often a result of competition in the pharmaceutical market after the expiration of the patent on the brand-name drug. Once a brand-name drug's patent expires, other pharmaceutical companies can produce and market generic versions of the drug. This competition leads to lower prices for consumers.

South Korea Generic Drug Market Trends:

The South Korean government has implemented various policies and initiatives to promote the use of generic drugs as a means to reduce healthcare costs and enhance the affordability of medications. These policies include incentivizing physicians to prescribe generics, promoting generic substitution at pharmacies, and implementing pricing mechanisms that encourage the use of generic medications. In addition, the escalating cost of healthcare services and medications has become a significant concern in South Korea. To address this issue, both the government and healthcare providers are increasingly turning to generic drugs as cost-effective alternatives to brand-name medications. This cost-conscious approach has led to a growing preference for generic prescriptions. Besides, South Korea, like many other countries, has an aging population. With the elderly being more susceptible to chronic illnesses and requiring long-term medication, there is a greater need for affordable treatment options. Generic drugs provide a cost-effective solution for managing chronic conditions, such as hypertension, diabetes, and cardiovascular diseases. Moreover, the pharmaceutical industry has been expanding and becoming increasingly competitive. Domestic generic drug manufacturers are investing in research and development to produce high-quality generic medications. This growth in the local pharmaceutical sector has led to a wider range of generic drug options for healthcare providers and consumers. Furthermore, healthcare professionals in South Korea are becoming more aware of the safety and efficacy of generic drugs. They are increasingly inclined to prescribe generic medications when appropriate, which helps boost the acceptance and utilization of generics among patients.

South Korea Generic Drug Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on therapy area, drug delivery, and distribution channel.

Therapy Area Insights:

south korea generic drug market

  • Central Nervous System
  • Cardiovascular
  • Dermatology
  • Genitourinary/Hormonal
  • Respiratory
  • Rheumatology
  • Diabetes
  • Oncology
  • Others
     

The report has provided a detailed breakup and analysis of the market based on the therapy area.. This includes central nervous system, cardiovascular, dermatology, genitourinary/hormonal, respiratory, rheumatology, diabetes, oncology, and others.

Drug Delivery Insights:

  • Oral
  • Injectables
  • Dermal/Topical
  • Inhalers
     

A detailed breakup and analysis of the market based on the drug delivery have also been provided in the report. This includes oral, injectables, dermal/topical, and inhalers.

Distribution Channel Insights:

  • Retail Pharmacies
  • Hospital Pharmacies
     

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes retail pharmacies and hospital pharmacies.

Regional Insights:

south korea generic drug market by Region

  • Seoul Capital Area
  • Yeongnam (Southeastern Region)
  • Honam (Southwestern Region)
  • Hoseo (Central Region)
  • Others
     

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Generic Drug Market Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
  • Therapy Area
  • Drug Delivery
  • Distribution Channel
  • Region
Therapy Areas Covered Central Nervous System, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology, Others
Drug Deliveries Covered Oral, Injectables, Dermal/Topical, Inhalers
Distribution Channels Covered Retail Pharmacies, Hospital Pharmacies
Regions Covered Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), Others
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the South Korea generic drug market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the South Korea generic drug market?
  • What is the breakup of the South Korea generic drug market on the basis of therapy area?
  • What is the breakup of the South Korea generic drug market on the basis of drug delivery?
  • What is the breakup of the South Korea generic drug market on the basis of distribution channel?
  • What are the various stages in the value chain of the South Korea generic drug market? 
  • What are the key driving factors and challenges in the South Korea generic drug?
  • What is the structure of the South Korea generic drug market and who are the key players?
  • What is the degree of competition in the South Korea generic drug market? 

Key Benefits for Stakeholders:

  • IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea generic drug market from 2018-2032.
  • The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea generic drug market.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea generic drug industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
South Korea Generic Drug Market Report by Therapy Area (Central Nervous System, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology, and Others), Drug Delivery (Oral, Injectables, Dermal/Topical, Inhalers), Distribution Channel (Retail Pharmacies, Hospital Pharmacies), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARATI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More
DEinternational Egypt

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

Read More