South Korea Biosimilars Market Size & Outlook, 2020-2027
South Korea biosimilars market, 2016-2027 (US$M)
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South Korea biosimilars market highlights
- The South Korea biosimilars market generated a revenue of USD 389.0 million in 2020 and is expected to reach USD 1,609.3 million by 2027.
- The South Korea market is expected to grow at a CAGR of 22.5% from 2021 to 2027.
- In terms of segment, recombinant non-glycosylated proteins was the largest revenue generating product in 2020.
- Recombinant Glycosylated Proteins is the most lucrative product segment registering the fastest growth during the forecast period.
Biosimilars market data book summary
| Market revenue in 2020 | USD 389.0 million |
| Market revenue in 2027 | USD 1,609.3 million |
| Growth rate | 22.5% (CAGR from 2020 to 2027) |
| Largest segment | Recombinant non-glycosylated proteins |
| Fastest growing segment | Recombinant Glycosylated Proteins |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Recombinant Non-Glycosylated Proteins, Recombinant Glycosylated Proteins |
| Key market players worldwide | Amgen Inc, Roche, Sandoz Group AG ADR, Dr. Reddy’s Laboratories, Teva Pharmaceutical Industries Ltd, Pfizer Inc, Samsung Bioepis, Biocon, Viatris Inc, Celltrion Healthcare, AbbVie Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.9% of the global biosimilars market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, China biosimilars market is projected to lead the regional market in terms of revenue in 2027.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,725.1 million by 2027.
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Biosimilars Market Scope
Biosimilars Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea biosimilars market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biosimilars market will help companies and investors design strategic landscapes.
Recombinant non-glycosylated proteins was the largest segment with a revenue share of 53.78% in 2020. Horizon Databook has segmented the South Korea biosimilars market based on recombinant non-glycosylated proteins, recombinant glycosylated proteins covering the revenue growth of each sub-segment from 2016 to 2027.
The South Korean government has invested heavily in domestic biopharmaceutical companies by providing capital and regulatory assistance. For instance, in 2011, the government reportedly began a consulting program in order to help South Korean biopharmaceutical companies understand the regulatory process for biosimilar approval at home and abroad.
And in 2012, the government invested over 35% of the national medical R&D budget in biosimilars development. South Korea’s early investments in the biosimilars industry are helping two companies in the country namely, Celltrion and Samsung Bioepis, both have received approval for biosimilars of blockbuster drugs.
Celltrion’s infliximab biosimilar is currently approved in various countries and is aiming for USD 1 billion in global sales of the drug. The company stated that they intend to invest an additional USD 275 million at their Korean manufacturing site in order to gain more production capacity by 2021.
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Our clientele includes a mix of biosimilars market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea biosimilars market , including forecasts for subscribers. This country databook contains high-level insights into South Korea biosimilars market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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South Korea biosimilars market size, by product, 2016-2027 (US$M)
South Korea Biosimilars Market Outlook Share, 2020 & 2027 (US$M)
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