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Non-small Cell Lung Cancer Drug Market in South Korea
Frost & Sullivan, Aug 2011, Pages: 81
This research service presents an overview and analysis of the non-small cell lung cancer drug market in South Korea from 2010 to 2017. It provides an analysis of the patient load, typical treatment regimens, clinical trial statistics by phase, and treatment challenges. Along with this coverage, the research service also outlines market drivers and restraints, Market Engineering measurements, and market trends. The research service ends with a market analysis, which includes the competitive structure, and industry megatrends.
This Frost & Sullivan research service titled Non-small Cell Lung Cancer Drug Market in South Korea provides an overview of the market, government initiatives, patient load, and competitive assessment. In this study, Frost & Sullivan's expert analysts thoroughly examine the following types of non-small cell lung cancer (NSCLC): adenocarcinoma, squamous cell carcinoma, and large cell carcinoma.
Market Overview
The Non-small Cell Lung Cancer Drug Market in South Korea to Grow from $96.0 Million 2010 to $219.0 Million in 2017
Targeted Therapies Offer Hope in the Face of Low Survival Rates and Increasing Incidence
Approximately 85.0 per cent of lung cancer patients in South Korea are afflicted with NSCLC, creating a plethora of opportunities for pharmaceutical companies to expand their portfolios of drugs for this disease. Pharmas’ R&D efforts will be bolstered by South Korea’s advanced medical and research infrastructure, combined with the burgeoning biotechnology industry. South Korea’s aging population presents drug manufacturers with a vast market, as patients are generally aged 65 or above at the time of diagnosis. In addition, the majority of patients are in stage III or IV at the time of diagnosis, where the primary treatment involves drugs. “Due to the universal health insurance coverage provided by the South Korean government, the majority of diagnosed patients are able to seek treatment,” says the analyst. “The high level of access means that patients can comply with the drug regimen prescribed by their physician, although the choice of drugs will depend on the reimbursement by the government.”
The low level of early diagnosis reduces the patient volume that could benefit from drug therapy. In addition, the lack of a regular screening program and the often innocuous early signs of the disease impede the likelihood of an early diagnosis. In this scenario, sponsoring disease awareness programs to aid the identification of risk factors and early symptoms of NSCLC is the need of the hour. Manufacturers can also capture a larger market share by developing drugs that prolong survival and decrease the severity of the side effects. However, before they can commercially launch new drugs, they need to conduct rigorous clinical trials and studies to prove the drugs’ efficacy so that the government grants them reimbursement status. “A new drug application must show clear improvement in patients and has to be backed by solid data, especially since the approval process has become more stringent in recent years,” notes the analyst.
Among the drugs in the late stages (phase II and III) of trials, targeted therapies are expected to dominate the market. Although these novel drugs herald a more personalized approach to treatment, they are also known as ‘premium priced’ therapies and come with hefty price tags. Other drugs that are showing considerable promise at the trial stages are NSCLC vaccines, which stimulate the patient’s own immune system to generate a non-toxic and longer-term antitumor response. Multinational and foreign companies are expected to increasingly acquire niche biotechnology companies, such as those developing biosimiliars or innovative biopharmaceuticals for NSCLC.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Adenocarcinoma
- Squamous cell carcinoma
- Large cell carcinoma
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