GENE ONLINE|News &
Opinion
Blog

2022-08-01| Special

South Korea’s Biotech Industry:Trends, Landscape, and Clusters Overview

by GeneOnline
Share To

While the global pharmaceutical industry is facing enormous challenges in operation and R&D innovation due to the changing global trend, the South Korean pharmaceutical industry is also facing severe difficulties such as reduced production capacity, tightened regulations, insufficient innovation, and patent expirations. In order to ensure sustained innovations to meet diverse needs of patients, governments, insurance providers, and the market for innovative medicines, pharmaceutical companies have placed a strong emphasis on exploring areas of unmet medical needs. With the support of the South Korean government, these companies are investing approximately 65% of their annual net revenues to secure the production of innovative medicines.

At the same time, South Korea's biotech and pharmaceutical industries are actively engaged in clinical studies, with the market share of clinical trials led by South Korea climbing from eighth place in 2019 to sixth place in 2020. Over the past few years, the global pharmaceutical and biotech industries have together witnessed how South Korea is becoming increasingly active in the global market as a country with its drug development capabilities.

It's free! Log in now to read

LATEST
Axsome’s AXS-05 Achieves Endpoints In Alzheimer’s Agitation Trial
2022-11-29
Spectrum to Cut 75% of Staff and NSCLC Program Following CLR
2022-11-28
Full-Life Technologies to Acquire Focus-X Therapeutics, Bolstering Peptide-Focused Radiopharmaceutical Pipeline
2022-11-28
Medeologix Acquires Three Silicon Valley Medical Device CDMO Companies and Establishes One-Stop Shop Mass Production Facilities in Taiwan
2022-11-28
GenFleet Therapeutics to Present Data from Phase I Trial of GFH009 Monotherapy at the 2022 Annual Meeting of American Society of Hematology (ASH)
2022-11-28
Everest’s Renal Drug Gets Placed On Fast Track For Approval In Taiwan And Korea
2022-11-28
Canada Authorizes Roche’s Polivy as First-Line Lymphoma Treatment
2022-11-27
EVENT
2022-12-01
BIOCHINA 2022
Online
2022-12-10
64TH ASH ANNUAL MEETING & EXPOSITION
New Orleans, USA
2022-12-14
BIOHK2022
Hong Kong, China
2023-01-07
7th Asia Microbiome Conference
Taipei, Taiwan
Scroll to Top

Create an account with us now to say goodbye to all the pop-ups!