South Korea Pharma-Biotech Space Predicted $23.2bn by 2022

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.