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South Korea has plans to invest over $1.7 billion (US) into its biotech and biopharma segments over the next five years. The pharmaceutical market in South Korea is predicted to increase to $23.2 billion (US), an increase from the $19.5 billion (US) in 2018, according to Global Data.
GlobalData’s research reveals that a number of deals within key therapy areas in South Korea’s pharma/biotech space have followed an increased trend between 2015 and 2018. The potential for biopharmaceutical development is very high in these areas, which include oncology, gastroenterology and immunology.