South Korea Vaccine Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.14% (2024-2032)
The proactive stance of the governing body in supporting the biotechnology and pharmaceutical sectors is propelling market growth in South Korea. According to the latest report by IMARC Group, the South Korea vaccine market size is projected to exhibit a growth rate (CAGR) of 4.14% during 2024-2032.
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South Korea Vaccine Industry Trends and Drivers:
The proactive stance of the governing body in supporting the biotechnology and pharmaceutical sectors is propelling the market growth in South Korea. This is leading to higher funding for vaccine research and development (R&D), which is encouraging innovation and the development of new and more effective vaccines. The commitment of the governing body in this sector is also reflected in the establishment of public-private partnerships (PPP) aimed at accelerating vaccine development and production.
Moreover, the growing awareness about the importance of vaccination among the population through public health campaigns and educational initiatives is offering a favorable market outlook. This leads to higher vaccination rates across all age groups, contributing to the overall vaccine demand. Additionally, the rising aging population in the country is leading to the development of vaccines for older adults, such as those for influenza and pneumonia, which are crucial for protecting vulnerable populations. The demographic shift towards an older population is catalyzing the demand for vaccines specifically targeted at age-related diseases.
Apart from this, the adoption of new technologies, including messenger ribonucleic acid (mRNA) vaccines and recombinant protein vaccines, enables the production of more effective and safer vaccines. These advancements are not only improving the efficacy of vaccines but are also reducing the time required for their development and production. The integration of cutting-edge technologies into the vaccine production process is enhancing the ability of the country to respond swiftly to emerging infectious diseases.
Furthermore, the increasing focus on personalized medicine, which is tailored to the genetic makeup of individuals, is gaining traction as a promising approach to improving vaccine efficacy. Besides this, the improvement of cold chain logistics and distribution infrastructure is ensuring that vaccines reach even the most remote areas of the country. This is particularly important for maintaining the efficacy of vaccines, as many require specific storage conditions. The enhancement of distribution networks is also enabling faster and more efficient delivery of vaccines, which is crucial in responding to public health emergencies.
South Korea Vaccine Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest South Korea vaccine market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
The report has segmented the market into the following categories:
Product Type Insights:
- Multivalent Vaccine
- Monovalent Vaccine
Treatment Type Insights:
- Preventive Vaccine
- Therapeutic Vaccine
Technology Insights:
- Conjugate Vaccines
- Inactivated and Subunit Vaccines
- Live Attenuated Vaccines
- Recombinant Vaccines
- Toxoid Vaccines
- Others
Route of Administration Insights:
- Intramuscular and Subcutaneous Administration
- Oral Administration
- Others
Patient Type Insights:
- Pediatric
- Adult
Indication Insights:
- Bacterial Diseases
- Meningococcal Disease
- Pneumococcal Disease
- Diphtheria/Tetanus/Pertussis (DPT)
- Tuberculosis
- Haemophilus Influenzae (Hib)
- Typhoid
- Others
- Viral Diseases
- Hepatitis
- Influenza
- Human Papillomavirus (HPV)
- Measles/Mumps/Rubella (MMR)
- Rotavirus
- Herpes Zoster
- Varicella
- Japanese Encephalitis
- Rubella
- Polio
- Rabies
- Dengue
- Others
Distribution Channel Insights:
- Hospital Pharmacies
- Retail Pharmacies
- Institutional Sales
- Others
End User Insights:
- Hospitals
- Clinics
- Vaccination Centers
- Academic and Research Institutes
- Others
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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