South Korea Cancer Immunotherapy Market Size & Outlook

Monoclonal antibodies was the largest segment with a revenue share of 68.05% in 2023. Horizon Databook has segmented the South Korea cancer immunotherapy market based on monoclonal antibodies, check point inhibitors, oncolytic viral therapies and cancer vaccines covering the revenue growth of each sub-segment from 2018 to 2030.

South Korea is one of the pioneering members of the Organization for Economic Cooperation and Development (OECD) in the cancer treatment space. South Korea recorded the highest five-year survival rate for gastric and colorectal cancer in 2019.

Treatment costs for cancer crossed USD 8 billion in 2018, accounting for almost 12% of the country's total medical expenditure. The average per capita cancer treatment cost was USD 5,250. South Korea recorded the highest prevalence of thyroid, stomach, lung, colorectal, breast, prostate, and liver cancers in 2018.

The cancer immunotherapy market in South Korea is expected to be further driven by intense competition among major players. Although Bristol-Myers Squibb Company and Merck & Co., Inc. remain the leaders owing to Opdivo and Keytruda, respectively, some of the key players in the local market space are Boryung Pharmaceutical, ImmuneOncia Therapeutics, and Dong-A ST.