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Pharmaceutical industry in South Korea - statistics & facts

The pharmaceutical industry in South Korea is a significant industry worth over 23 trillion South Korean won as of 2018. Pharmaceutical spending accounted for approximately 1.7 percent of South Korea’s GDP in 2018, while spending per capita increased steadily. In addition, the exports of pharmaceutical products from South Korea increased sharply during the COVID-19 pandemic. As the country is gearing up to manufacture a large amount of coronavirus vaccine, the Korean pharmaceutical industry is expected to grow further.

What are the figures for the Korean pharma industry?

The value of pharmaceuticals produced in Korea has grown throughout recent years, rising from around 14 billion South Korean won in 2013 to over 18.5 billion in 2018. This growth corresponds to the increased production of both over-the-counter (OTC) and prescription drugs; the latter has consistently accounted for approximately 83 percent of the production value. The vast majority of pharmaceutical distributors are pharmacies, of which there are over 22 thousand across the country and represent around 84 percent of all distributors.

In international trade, pharmaceutical exports exceeded 4.6 billion U.S. dollars in 2018, more than doubled compared to exports in 2013. Meanwhile, imports have remained fairly stable and valued at around 6.5 billion U.S. dollars in 2018. Although the difference between exports and imports remains considerable, it has steadily decreased in recent years, and the gap is expected to narrow further.

Who are the key players in the Korean pharma industry?

Hanmi Pharmaceutical was the leading pharmaceutical manufacturer in Korea as of 2018, with a production value of over 900 billion South Korean won. Chong Kun Dang and Celltrion followed with approximately 817 billion and 726 billion South Korean won worth of products respectively. In 2020, the ranking of pharmaceutical companies seems to change as the pharmaceutical business environment is directly related to the coronavirus pandemic. In the first half of 2020, Celltrion recorded the largest revenue among domestic pharmaceutical companies thanks to its COVID-19 antibody treatments. Its revenue grew by 93.1 percent compared to the same period in the previous year.

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Impacts of Covid-19

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Pharmaceutical industry in South Korea

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Pharmaceutical industry in South Korea - statistics & facts

The pharmaceutical industry in South Korea is a significant industry worth over 23 trillion South Korean won as of 2018. Pharmaceutical spending accounted for approximately 1.7 percent of South Korea’s GDP in 2018, while spending per capita increased steadily. In addition, the exports of pharmaceutical products from South Korea increased sharply during the COVID-19 pandemic. As the country is gearing up to manufacture a large amount of coronavirus vaccine, the Korean pharmaceutical industry is expected to grow further.

What are the figures for the Korean pharma industry?

The value of pharmaceuticals produced in Korea has grown throughout recent years, rising from around 14 billion South Korean won in 2013 to over 18.5 billion in 2018. This growth corresponds to the increased production of both over-the-counter (OTC) and prescription drugs; the latter has consistently accounted for approximately 83 percent of the production value. The vast majority of pharmaceutical distributors are pharmacies, of which there are over 22 thousand across the country and represent around 84 percent of all distributors.

In international trade, pharmaceutical exports exceeded 4.6 billion U.S. dollars in 2018, more than doubled compared to exports in 2013. Meanwhile, imports have remained fairly stable and valued at around 6.5 billion U.S. dollars in 2018. Although the difference between exports and imports remains considerable, it has steadily decreased in recent years, and the gap is expected to narrow further.

Who are the key players in the Korean pharma industry?

Hanmi Pharmaceutical was the leading pharmaceutical manufacturer in Korea as of 2018, with a production value of over 900 billion South Korean won. Chong Kun Dang and Celltrion followed with approximately 817 billion and 726 billion South Korean won worth of products respectively. In 2020, the ranking of pharmaceutical companies seems to change as the pharmaceutical business environment is directly related to the coronavirus pandemic. In the first half of 2020, Celltrion recorded the largest revenue among domestic pharmaceutical companies thanks to its COVID-19 antibody treatments. Its revenue grew by 93.1 percent compared to the same period in the previous year.

Interesting statistics

In the following 4 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Pharmaceutical industry in South Korea".

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