South Korea Oral Anti-Diabetic Drug Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South Korea Oral Anti-Diabetic Drug Market Analysis
South Korea Oral Anti-Diabetic Drug Market is expected to register a CAGR of more than 3% during the forecast period and 506 million in revenue in the forecast period.
Diabetes patients are more likely to suffer problems if they become infected with a virus. Diabetes was shown to be prevalent in 14.6% of H1N1 cases and 54.4% of Middle East respiratory syndrome (MERS-CoV) cases in a prior investigation. Diabetes, one of the most frequent comorbidities, has been linked to increased mortality and morbidity in COVID-19. Furthermore, the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) have identified diabetes as a possible risk factor (CDC). Diabetes, one of the most frequent comorbidities, has been linked to increased mortality and morbidity in COVID-19. Furthermore, the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) have identified diabetes as a possible risk factor (CDC).
One in seven Koreans over 30 have diabetes, but their disease recognition rate and treatment rate continue to stay at a low level, according to an academic group's fact sheet. Diabetes is more prevalent among adults in South Korea, and the economic cost of diabetes is more than that of general cancer. Diabetes problems or related comorbidities, as well as hospitalization, have considerable expenditures. Effective techniques are required to control diabetes complications, use healthcare resources, and decrease the financial burden. Increased knowledge of the scale and particular components of the economic burden of diabetes in Korea is likely to persuade health officials to prioritize its prevention and management and to commit more healthcare resources to diabetes.
Therefore, owing to the above factors, the studied market is anticipated to grow over the analysis period.
South Korea Oral Anti-Diabetic Drug Market Trends
metformin Segment Occupied the Highest Market Share in the South Korea Oral Anti-Diabetic Drugs Market in the current year.
In terms of revenue, the metformin segment is anticipated to lead the Korea Oral Anti-Diabetic Drugs Market and post a CAGR of over 1% during the forecast year. Among the several Oral anti-diabetes drugs available, metformin constitutes one of the key pharmacotherapeutic agents in the management of T2DM. Diabetes is a major health issue that poses considerable problems to healthcare systems in South Korea.
The prevalence of recognized type 1 and type 2 diabetes in the South Korean adult population is relatively high, with many individuals still undiagnosed. The prevalence of type 2 diabetes is expected to rise steadily over the next few years due to an aging population and an unhealthy lifestyle (the percentage of energy intake from carbohydrates is higher in diabetes patients than in those without diabetes, while that from protein and fat is lower in diabetics). High-quality treatment, including proper monitoring, risk factor reduction, and active self-management, is critical for avoiding complications in type 2 diabetes patients in South Korea.
All public health insurance in Korea is covered under the National Health Insurance Act. This Act applies to the whole population, and all Korean nationals earning a living must contribute a portion of their monthly earnings. Employers are also obligated to match employee contributions. The MOHW oversees two health insurance agencies: the Health Insurance Review Agency (HIRA) and the National Health Insurance Corporation (NHIC). The HIRA, in particular, is in charge of examining reimbursement coverage or non-coverage, as well as price applications from pharmaceutical and medical drugs companies. If the company receives payment, it may be able to extend its market and increase its sales volume.
The increasing Diabetes Population in South Korea is driving the market.
Diabetes is more prevalent among adults in South Korea, and the economic cost of diabetes is more than that of general cancer. Diabetes problems or related comorbidities, as well as hospitalization, have considerable expenditures. Effective techniques are required to control diabetes complications, use healthcare resources, and decrease the financial burden. Increased knowledge of the scale and particular components of the economic burden of diabetes in Korea is likely to persuade health officials to prioritize its prevention and management and to commit more healthcare resources to diabetes.
Diabetic pharmaceuticals are medications designed to stabilize and manage blood glucose levels in diabetics. Diabetes medications are routinely used to control the disease. Diabetes medications are classified into several types. Each class of drug has a unique method of action for lowering blood sugar. A medication may function by stimulating the pancreas to produce and release more insulin, reducing the liver's capacity to produce and release sugar, inhibiting the action of intestinal enzymes that break down carbs, and many other mechanisms. It also raises cell sensitivity to insulin, decreasing the kidneys' capacity to absorb sugar, and so increasing the quantity of sugar excreted in the urine. The prevalence of recognized type-1 and type-2 diabetes in the adult South Korean population is significant, as is the number of individuals who have not yet been diagnosed. The prevalence of type-2 diabetes is expected to rise steadily over the next few years due to an aging population and an unhealthy lifestyle (the percentage of energy intake from carbohydrates is higher in diabetes patients than in those without diabetes, while that from protein and fat is lower). High-quality treatment, including proper monitoring, risk factor reduction, and active self-management, is critical for reducing complications in type 2 diabetes patients.
As a result of the aforementioned reasons, the studied market is expected to increase throughout the analysis period.
South Korea Oral Anti-Diabetic Drug Industry Overview
The South Korean oral anti-diabetes drug market is consolidated, with a few major manufacturers like Eli Lilly, AstraZeneca, Sanofi, and Janssen Pharmaceuticals having a global market presence, while the remaining manufacturers are confined to the other local or regional markets. Companies are focusing on innovations in diabetes drugs.
South Korea Oral Anti-Diabetic Drug Market Leaders
Eli Lilly and Company
Astellas
Sanofi
Janseen
Astrazeneca
*Disclaimer: Major Players sorted in no particular order
South Korea Oral Anti-Diabetic Drug Market News
- May 2022: Mounjaro (tirzepatide) injection to improve blood sugar control in adults with type 2 diabetes was approved as an addition to diet and exercise. Mounjaro was effective at improving blood sugar and was more effective than the other diabetes therapies with which it was compared in clinical studies.
- June 2022: Daewoong Pharmaceutical confirmed promising phase 3 topline results focusing on the therapeutic effects of Enavogliflozin monotherapy and combination therapy with Metformin. Daewoong's Enavogliflozin is an SGLT-2 inhibitor in development for the first time in Korea.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Oral Anti-diabetic drugs
5.1.1 Biguanides
5.1.1.1 Metformin
5.1.2 Alpha-Glucosidase Inhibitors
5.1.2.1 Alpha-Glucosidase Inhibitors
5.1.3 Dopamine D2 receptor agonist
5.1.3.1 Bromocriptin
5.1.4 SGLT-2 inhibitors
5.1.4.1 Invokana (Canagliflozin)
5.1.4.2 Jardiance (Empagliflozin)
5.1.4.3 Farxiga/Forxiga (Dapagliflozin)
5.1.4.4 Suglat (Ipragliflozin)
5.1.5 DPP-4 inhibitors
5.1.5.1 Onglyza (Saxagliptin)
5.1.5.2 Tradjenta (Linagliptin)
5.1.5.3 Vipidia/Nesina(Alogliptin)
5.1.5.4 Galvus (Vildagliptin)
5.1.6 Sulfonylureas
5.1.6.1 Sulfonylureas
5.1.7 Meglitinides
5.1.7.1 Meglitinides
6. MARKET INDICATORS
6.1 Type-1 Diabetic Population
6.2 Type-2 Diabetic Population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Takeda
7.1.2 Novo Nordisk
7.1.3 Pfizer
7.1.4 Eli Lilly
7.1.5 Janssen Pharmaceuticals
7.1.6 Astellas
7.1.7 Boehringer Ingelheim
7.1.8 Merck And Co.
7.1.9 AstraZeneca
7.1.10 Bristol Myers Squibb
7.1.11 Novartis
7.1.12 Sanofi
- *List Not Exhaustive
7.2 Company Share Analysis
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
South Korea Oral Anti-Diabetic Drug Industry Segmentation
Orally administered antihyperglycemic drugs reduce blood glucose levels. They are often used in type 2 diabetes care. South Korea Oral Anti-Diabetic Drug Market is segmented into drugs (Biguanides, Alpha-glucosidase inhibitors, Dopamine-D2 receptor agonists, Sodium-glucose Cotransport-2 (SGLT-2) inhibitor, Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Sulfonylureas, and Meglitinides). The report offers the value (in USD million) and volume (in Units million) for the above segments.
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Frequently Asked Questions
What is the current South Korea Oral Anti-Diabetic Drug Market size?
The South Korea Oral Anti-Diabetic Drug Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in South Korea Oral Anti-Diabetic Drug Market?
Eli Lilly and Company, Astellas, Sanofi, Janseen and Astrazeneca are the major companies operating in the South Korea Oral Anti-Diabetic Drug Market.
What years does this South Korea Oral Anti-Diabetic Drug Market cover?
The report covers the South Korea Oral Anti-Diabetic Drug Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Oral Anti-Diabetic Drug Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Oral Anti-Diabetic Drug Industry Report
Statistics for the 2024 South Korea Oral Anti-Diabetic Drug market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Oral Anti-Diabetic Drug analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
