South Korea Active Pharmaceutical Ingredient (API) Market Overview, 2027

South Korea API Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition, Forecast & Opportunities.

"South Korea is known for its strong presence in the pharmaceutical industry, including the production of active pharmaceutical ingredients (APIs). To lessen its reliance on foreign materials, South Korea has been working to improve its domestic capacity for producing API. Through a number of programs and policies, the government has aggressively promoted the growth of the local API business. This emphasis on API manufacturing is a component of South Korea's larger plan to enhance its pharmaceutical industry and increase its capacity to service its own healthcare requirements. While countries like India and China remain dominant in the global API manufacturing industry, South Korea has emerged as a notable player with its focus on quality, technology, and innovation. The South Korean government has implemented policies and initiatives to support the growth of the pharmaceutical industry, including API manufacturing. South Korea has a robust regulatory framework for pharmaceutical manufacturing that adheres to international quality standards, these regulatory authorities, such as the Ministry of Food and Drug Safety (MFDS), enforce strict regulations to ensure the safety and efficacy of APIs. The South Korean API industry is a major contributor to the South Korean economy. It is also a vital part of the global pharmaceutical supply chain. The industry is expected to continue to grow in the coming years, and South Korea is likely to become a major player in the global API market. According to the report titled ""South Korea Active Pharmaceutical Ingredients Market Overview, 2027"", published by Bonafide Research, the market is expected to grow exorbitantly over the forecast period. Though synthetic APIs are widely used to manufacture drugs, biotech APIs are expected to grow rapidly over the forecast period. This is due to the launches of new drugs and biological products, acquisitions, collaborations, and regional expansion initiatives being taken by the companies to maintain stability in the market. The captive segment has the largest market share and is anticipated to grow in the future owing to the easy availability of raw materials and huge investments by major companies to develop high-end manufacturing facilities. Recent advancements and research suggest that companies are more focused on in-house manufacturing than outsourcing to others. The captive API segment accounted for the major market share and is expected to grow at a steady CAGR over the forecast period. Generic APIs are expected to be in demand over the forecast period as the branded API segment's demands are declining. This is due to the consolidation in the pharma industry and various drugs going off-patent. Due to a rise in over-the-counter drugs and the lower cost of generic drugs, it is expected to lure consumers. The increasing obesity, diabetes, and other chronic diseases, which are long-lasting and require the patient to consume the drugs on a daily basis, drive the demand for cheaper alternatives to save costs. Thus, the demand for generic API will rise in future years coupled with government incentives.

What's Inside a Bonafide Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

The cardiovascular diseases segment accounts for the largest application due to increasing heart-related diseases worldwide. Rising awareness, preventive treatment, and government measures are further expected to drive future demand for API. On the other hand, oncology applications are expected to grow rapidly over the forecast period due to the changing lifestyles of Millennials and the growing number of cancer patients in recent years. The metabolic disorders caused by sedentary lifestyles and hormonal imbalances created in the human body are the factors increasing the risks of these diseases. Diabetes is another chronic disease that is on the rise among the populace in the country. Though synthetic APIs led the market, biotech APIs are expected to grow rapidly in the forecast period owing to increased demand for biopharmaceuticals and the number of innovations in the field to meet medical needs for various diseases. It is considered to be a highly profitable segment that has attracted many key players to invest in these manufacturing facilities. COVID-19 Impact: The pandemic had a combination of effects on the API market, creating demand shocks across the world, but some drugs that were required to treat the virus' effects were in huge demand. There was an increased demand for fever, cold, and cough drugs. In 2020 it decreased by -2.80% due to supply chain logistics at a standstill. However, the future markets are projected to grow exorbitantly as they have recovered from the pandemic shocks. Many manufacturing units in South Korea were shut down due to a lack of raw materials and the pandemic effects which affected the world markets for API. Also, the decrease in demand for pharmaceuticals for certain elective procedures has also led to a decline in the market's growth in 2020. The sales declined also because the supply chain logistics were at a standstill due to immobility. Although the demand for drugs like paracetamol, azithromycin, and hydroxychloroquine is up, the demand for them is down. To treat the symptoms and numerous health conditions that a COVID-19 patient may have, such as cough, cold, and high fever, a variety of medications are employed, leading to the pharmaceutical industry being the epicenter of the pandemic. South Korean API manufacturers are placing a strong emphasis on meeting international quality standards and regulatory compliance. South Korean API manufacturers are increasingly engaging in strategic partnerships and collaborations with global pharmaceutical companies and research institutions. These collaborations facilitate knowledge exchange, technology transfer, and co-development of APIs, enabling South Korean manufacturers to access new markets, expertise, and research advancements. To optimize production processes and boost productivity, South Korean API producers are utilizing cutting-edge technologies like process automation, artificial intelligence (AI), and machine learning (ML). To reduce their negative effects on the environment, South Korean businesses are introducing eco-friendly procedures and green production techniques. Considered in this report ? Geography: United States (US) ? Historic Year: 2016 ? Base year: 2021 ? Estimated year: 2022 ? Forecast year: 2027

Make this report your own

Have queries/questions regarding a report?

Take advantage of intelligence tailored to your business objective

Prashant Tiwari

Prashant Tiwari

Research Analyst

Aspects covered in this report United States • Active Pharmaceutical Ingredients Market with its value, forecast, and segments • Application wise Active Pharmaceutical Ingredients distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Based on a synthesis of Active Pharmaceutical Ingredients in the report • Synthetic API • Biotech API Based on the drug type of Active Pharmaceutical Ingredients in the report • Branded API • Generic API

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now
Prashant Tiwari

Based on the type of manufacture of Active Pharmaceutical Ingredients in the report • Captive API • Merchant API By Therapeutic Application Type in the report • Communicable Diseases • Oncology • Diabetes • Cardiovascular Disease • Pain management • Respiratory Diseases • Other Therapeutic Applications The approach of the report This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the pharmaceutical industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Please get in touch with our sales team to find out more. "

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Introduction
  • 2.1. Market Definition
  • 2.2. Market Scope & Segmentation
  • 2.3. Research Methodology
  • 3. South Korea Macro Economic Indicators
  • 4. South Korea Active Pharmaceutical Ingredients Market Category Analysis
  • 4.1. Key findings
  • 4.2. Market Drivers
  • 4.3. Market Restraints
  • 4.4. Policies & Certification
  • 4.5. Opportunities
  • 4.6. Value Chain Analysis
  • 4.7. Key Developments - 2021
  • 5. South Korea Active Pharmaceutical Ingredients Market Trends
  • 6. South Korea Active Pharmaceutical Ingredients Market Overview
  • 6.1. Market Size By Value
  • 6.2. Market Share
  • 6.2.1. By Synthesis Type
  • 6.2.2. By Therapeutic Application
  • 6.2.3. By Type of Manufacture
  • 7. South Korea Active Pharmaceutical Ingredients Market Segmentations
  • 7.1. South Korea Active Pharmaceutical Ingredients Market, By Synthesis Type
  • 7.1.1. South Korea Active Pharmaceutical Ingredients Market Size, By Synthetic API, 2016 - 2027F
  • 7.1.2. South Korea Active Pharmaceutical Ingredients Market Size, By Biotech API, 2016 - 2027F
  • 7.2. South Korea Active Pharmaceutical Ingredients Market, By Therapeutic Application
  • 7.2.1. South Korea Active Pharmaceutical Ingredients Market Size, By Communicable Diseases, 2016 - 2027F
  • 7.2.2. South Korea Active Pharmaceutical Ingredients Market Size, By Oncology, 2016 - 2027F
  • 7.2.3. South Korea Active Pharmaceutical Ingredients Market Size, By Diabetes, 2016 - 2027F
  • 7.2.4. South Korea Active Pharmaceutical Ingredients Market Size, By Cardiovascular Disease, 2016 - 2027F
  • 7.2.5. South Korea Active Pharmaceutical Ingredients Market Size, By Pain management, 2016 - 2027F
  • 7.2.6. South Korea Active Pharmaceutical Ingredients Market Size, By Respiratory Diseases, 2016 - 2027F
  • 7.2.7. South Korea Active Pharmaceutical Ingredients Market Size, By Other Therapeutic Applications, 2016 - 2027F
  • 7.3. South Korea Active Pharmaceutical Ingredients Market, By Type of Manufacture
  • 7.3.1. South Korea Active Pharmaceutical Ingredients Market Size, By Captive API, 2016 - 2027F
  • 7.3.2. South Korea Active Pharmaceutical Ingredients Market Size, By Merchant API, 2016 - 2027F
  • 8. South Korea Active Pharmaceutical Ingredients Market Opportunity Assessment
  • 8.1. By Active Pharmaceutical Ingredients, 2022F to 2027F
  • 8.2. By Therapeutic Application, 2022F to 2027F
  • 8.3. By Type of Manufacture, 2022F to 2027F
  • 9. Competitive Landscape
  • 9.1. Porter's Five Forces
  • 9.2. Company Profiles
  • 9.2.1. Company 1
  • 9.2.2. Company 2
  • 9.2.3. Company 3
  • 9.2.4. Company 4
  • 9.2.5. Company 5
  • 9.2.6. Company 6
  • 9.2.7. Company 7
  • 9.2.8. Company 8
  • 10. Strategic Recommendations
  • 11. Disclaimer

List of Table
Table 1: South Korea Active Pharmaceutical Ingredients Market Size of Synthetic API (2016 to 2027F) (In USD billion)
Table 2: South Korea Active Pharmaceutical Ingredients Market Size of Biotech API (2016 to 2027F) (In USD billion)
Table 3: South Korea Active Pharmaceutical Ingredients Market Size of Communicable Diseases (2016 to 2027F) (In USD billion)
Table 4: South Korea Active Pharmaceutical Ingredients Market Size of Oncology (2016 to 2027F) (In USD billion)
Table 5: South Korea Active Pharmaceutical Ingredients Market Size of Diabetes (2016 to 2027F) (In USD billion)
Table 6: South Korea Active Pharmaceutical Ingredients Market Size of Cardiovascular Disease (2016 to 2027F) (In USD billion)
Table 7: South Korea Active Pharmaceutical Ingredients Market Size of Pain management (2016 to 2027F) (In USD billion)
Table 8: South Korea Active Pharmaceutical Ingredients Market Size of Respiratory Diseases (2016 to 2027F) (In USD billion)
Table 9: South Korea Active Pharmaceutical Ingredients Market Size of Other Therapeutic Applications (2016 to 2027F) (In USD billion)
Table 10: South Korea Active Pharmaceutical Ingredients Market Size of Captive API (2016 to 2027F) (In USD billion)
Table 11: South Korea Active Pharmaceutical Ingredients Market Size of Merchant API (2016 to 2027F) (In USD billion)
Table 12: Key Facts of Company 1
Table 13: Key Facts of Company 2
Table 14: Key Facts of Company 3
Table 15: Key Facts of Company 4
Table 16: Key Facts of Company 5
Table 17: Key Facts of Company 6
Table 18: Key Facts of Company 7
Table 19: Key Facts of Company 8

List of Figure
Figure 1: South Korea Active Pharmaceutical Ingredients Market Size By Value 2016 to 2027F (In USD billion)
Figure 2: South Korea Active Pharmaceutical Ingredients Market Share By Volume By Synthesis Type (2016, 2021 & 2027F)
Figure 3: South Korea Active Pharmaceutical Ingredients Market Share By Volume By Therapeutic Application (2016, 2021 & 2027F)
Figure 4: South Korea Active Pharmaceutical Ingredients Market Share By Type of Manufacture (2016, 2021 & 2027F)
Figure 5: Market Attractiveness Index, By Synthesis Type
Figure 6: Market Attractiveness Index, By Therapeutic Application
Figure 7: Market Attractiveness Index, By Type of Manufacture
Figure-8: Porter's Five Forces Meter of Active Pharmaceutical Ingredients Industry in South Korea

Why Bonafide Research?

  • Our seasoned industry experts bring diverse sector experience, tailoring methodologies to your unique challenges.
  • Leveraging advanced technology and time-tested methods ensures accurate and forward-thinking insights.
  • Operating globally with a local touch, our research spans borders for a comprehensive view of international markets.
  • Timely and actionable insights empower swift, informed decision-making in dynamic market landscapes.
  • We foster strong client relationships based on trust, transparency, and collaboration.
  • Our dedicated team adapts and evolves strategies to meet your evolving needs.
  • Upholding the highest standards of ethics and data security, we ensure confidentiality and integrity throughout the research process.

How client has rates us?

Requirement Gathering & Methodology
92%
Data Collection Techniques
97%
Our Research Team & Data Sourcing
93%
Data Science & Analytical Tools
81%
Data Visualization & Presentation Skills
86%
Project/ Report Delivery & After Sales Services
88%
Logo

South Korea Active Pharmaceutical Ingredient (API) Market Overview, 2027

Contact usWe are friendly and approachable, give us a call.