South Korea to Emerge as Leading Biosimilar Market by 2020

Korea is one the leading market for biosimilar products and is expected to dominate the global pie with a significant share of 22% by 2020.

Release Date: 04-Oct-2013



South Korea has emerged as one of the strategic location for the development of biosimilars on the global level. Among the various emerging countries identified for development of biosimilars, South Korea is one of the most promising countries where pharmaceutical companies have identified huge investment potentials for the drug development process. One of the major reasons for the attractiveness of South Korea is the end of patent protection for some blockbuster drugs in the coming years and the need for novel therapeutics. Offering the advantages of favourable government and business conducive environment, the South Korean biosimilars market is poised for significant and rapid growth in the future years. There are many favorable steps undertaken by the government in this regard, some of them being tax holidays, tax concessions, cash grant, site location support and financial support for pharmaceutical companies investing in Korea. 

South Korea has a strategic role in the global biosimilars market in the years to come. Among the emerging nations best suited for development of biosimilars, South Korea is one of the most promising countries where pharmaceutical companies have identified huge potentials. One of the major reasons for the attractiveness of Korea is the end of patent protection for some blockbuster drugs in the coming years and the need for novel therapeutics. Offering the advantages of favourable government and business conducive environment, the Korean biosimilars market is poised for significant and rapid growth in the future years.

 

For more information visit: “South Korea Biosimilar Market Opportunity Analysis”

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