South Korea Diabetes Drugs Market Size
| Study Period | 2021- 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1 Billion |
| Market Size (2029) | USD 1.22 Billion |
| CAGR (2024 - 2029) | 4.04 % |
| Market Concentration | Medium |
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 Diabetes Drugs Market Analysis
The South Korea Diabetes Drugs Market size is estimated at USD 1 billion in 2024, and is expected to reach USD 1.22 billion by 2029, growing at a CAGR of 4.04% during the forecast period (2024-2029).
The COVID-19 pandemic positively impacted the Diabetes Drugs market growth in South Korea. Patients with diabetes, infected with COVID-19 may experience elevated blood glucose, abnormal glucose variability, and diabetic complications. The prevalence of diabetes in people with COVID-19 caused a significant increase in the severity and mortality of COVID-19 in people with either type 1 (T1DM) or type 2 diabetes mellitus (T2DM), especially in association with poor glycemic control. While new-onset hyperglycemia and new-onset diabetes (both T1DM and T2DM) have been increasingly recognized in the context of COVID-19 and have been associated with worse outcomes. To avoid aggravation, a patient's blood glucose should be monitored and managed regularly.
Diabetic drugs are medicines developed to stabilize and control blood glucose levels among people with diabetes. Diabetic drugs are commonly used to manage diabetes. Diabetic drugs have been potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the COVID-19 pandemic. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as administering additional insulin or ingesting additional carbohydrates by monitoring their blood glucose levels. Diabetes poses an emerging healthcare burden across the country and is one of the leading causes of premature death, morbidity, and loss of economic growth.
In South Korea, the prevalence of diabetes in adults is higher and the economic burden of diabetes is higher than that of overall cancer. Diabetic complications or related comorbidities and hospitalization are associated with high costs. Effective strategies are needed to manage patients with diabetic complications and use healthcare resources and reduce the economic burden. It is expected that increased information regarding both the magnitude and the specific components of the economic burden of diabetes in Korea will influence health policymakers to prioritize its prevention and management and to allocate more health care resources to diabetes.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
South Korea Diabetes Drugs Market Trends
The oral anti-diabetic drugs segment holds the highest market share in the South Korea Diabetes Drugs Market in the current year
The oral anti-diabetic drugs segment holds the highest market share of about 55.2% in the South Korea Diabetes Drugs Market in the current year.
Oral Anti-Diabetic Drugs are available internationally and are recommended for use when escalation of treatment for type 2 diabetes is required along with lifestyle management. Oral agents are typically the first medications used in treating type 2 diabetes due to their wide range of efficacy, safety, and mechanisms of action. Anti-diabetic drugs help diabetes patients control their condition and lower the risk of diabetes complications. People with diabetes may need to take anti-diabetic drugs for their whole lives to control their blood glucose levels and avoid hypoglycemia and hyperglycemia. Oral anti-diabetic agents present the advantages of easier management and lower cost. So they became an attractive alternative to insulin with better acceptance, which enhances adherence to the treatment.
Diabetes is a significant health problem and one of the tremendous challenges for healthcare systems all over South Korea. The prevalence of known type 1 & 2 diabetes in the South Korean adult population is very high, along with many patients not yet diagnosed with the disease. Due to an aging population and unhealthy lifestyle, the prevalence of type 2 diabetes is expected to increase steadily over the next few years. High-quality care, including adequate monitoring, control of risk factors, and active self-management, are the key factors for preventing complications in South Korean patients with type 2 diabetes.
Awareness of diabetes and glycemic control requires significant improvements in South Korea. The new national-level action plan is required to raise awareness about diabetes and prediabetes, improve glycemic control and minimize the occurrence of adverse health outcomes. With growing awareness, the adoption of anti-diabetic drugs is expected to improve.
Therefore, owing to the above factors, the studied market is anticipated to grow over the analysis period.
Glucagon-like peptide-1 receptor agonist Segment is expected to witness a healthy CAGR in the South Korea Diabetes Drugs Market over the forecast period
Glucagon-like peptide -1 receptor agonist drugs are expected to register a CAGR of around 7.2% over the forecast period.
Glucagon-like peptide-1 receptor agonists (GLP-1RAs) are a class of medications used for treating type 2 diabetes, and some drugs are also approved for obesity. One of the benefits of this class of drugs over older insulin secretagogues, such as sulfonylureas or meglitinides, is that they contain a lower risk of causing hypoglycemia. Besides being important glucose-lowering agents, GLP-1RAs include significant anti-inflammatory and pulmonary protective effects and benefit gut microbes' composition.
The high prevalence of type 2 diabetes is associated with a significant economic burden. The costs of diabetes are increased in patients with co-morbidities such as hypertension and hyperlipidemia and in patients who develop complications. Costs increase with an increasing number of complications. The National Health Insurance (NHI) Act covers all public health insurance in Korea. This Act covers the entire population, and all citizens earning an income in Korea must contribute a percentage of their monthly salary.
Employers are also responsible for matching employee contributions. Two health insurance agencies are under the MOHW: the Health Insurance Review Agency (HIRA) and the National Health Insurance Corporation (NHIC). In particular, the HIRA is responsible for reviewing reimbursement coverage/non-coverage and pricing applications from pharmaceutical and medical device companies. The company may expand its market and obtain a larger sales volume if reimbursement is obtained, enhancing market prospects in the coming years.
South Korea Diabetes Drugs Industry Overview
The South Korea Diabetes Drugs Market is moderately consolidated, with major manufacturers, namely Eli Lilly, Sanofi, Novo Nordisk, AstraZeneca, and other generic players, holding a presence in the region. A major share of the market is held by manufacturers concomitant with strategy-based M&A operations and constantly entering the market to generate new revenue streams and boost existing ones.
South Korea Diabetes Drugs Market Leaders
-
AstraZeneca
-
Boehringer Ingelheim
-
Eli Lilly and Company
-
Novo Nordisk A/S
-
Sanofi Aventis
*Disclaimer: Major Players sorted in no particular order
South Korea Diabetes Drugs Market News
- December 2023: Daewoong Pharmaceutical signed a contract with Russian pharmaceutical company JSC Pharmasyntez to export Envlo, an SGLT-2 inhibitor for diabetes treatment developed by the South Korean pharmaceutical company, to five member countries of the Commonwealth of Independent States, including Russia.
- April 2023: LG Chem Ltd. launched a new diabetes combination drug, Zemidapa Tab. The drug is based on the active ingredient gemigliptin, known as Zemiglo, and dapagliflozin.
South Korea Diabetes Drugs Market Report - 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 Insulins
- 5.1.1 Basal or Long Acting Insulins
- 5.1.1.1 Lantus (Insulin Glargine)
- 5.1.1.2 Levemir (Insulin Detemir)
- 5.1.1.3 Toujeo (Insulin Glargine)
- 5.1.1.4 Tresiba (Insulin Degludec)
- 5.1.1.5 Basaglar (Insulin Glargine)
- 5.1.2 Bolus or Fast Acting Insulins
- 5.1.2.1 NovoRapid/Novolog (Insulin Aspart)
- 5.1.2.2 Humalog (Insulin Lispro)
- 5.1.2.3 Apidra (Insulin Glulisine)
- 5.1.3 Traditional Human Insulins
- 5.1.3.1 Novolin/Actrapid/Insulatard
- 5.1.3.2 Humulin
- 5.1.3.3 Insuman
- 5.1.4 Biosimilar Insulins
- 5.1.4.1 Insulin Glargine Biosimilars
- 5.1.4.2 Human Insulin Biosimilars
-
5.2 Oral Anti-diabetic drugs
- 5.2.1 Biguanides
- 5.2.1.1 Metformin
- 5.2.2 Alpha-Glucosidase Inhibitors
- 5.2.2.1 Alpha-Glucosidase Inhibitors
- 5.2.3 Dopamine D2 receptor agonist
- 5.2.3.1 Bromocriptin
- 5.2.4 SGLT-2 inhibitors
- 5.2.4.1 Invokana (Canagliflozin)
- 5.2.4.2 Jardiance (Empagliflozin)
- 5.2.4.3 Farxiga/Forxiga (Dapagliflozin)
- 5.2.4.4 Suglat (Ipragliflozin)
- 5.2.5 DPP-4 inhibitors
- 5.2.5.1 Onglyza (Saxagliptin)
- 5.2.5.2 Tradjenta (Linagliptin)
- 5.2.5.3 Vipidia/Nesina(Alogliptin)
- 5.2.5.4 Galvus (Vildagliptin)
- 5.2.6 Sulfonylureas
- 5.2.6.1 Sulfonylureas
- 5.2.7 Meglitinides
- 5.2.7.1 Meglitinides
-
5.3 Non-Insulin Injectable drugs
- 5.3.1 GLP-1 receptor agonists
- 5.3.1.1 Victoza (Liraglutide)
- 5.3.1.2 Byetta (Exenatide)
- 5.3.1.3 Bydureon (Exenatide)
- 5.3.1.4 Trulicity (Dulaglutide)
- 5.3.1.5 Lyxumia (Lixisenatide)
- 5.3.2 Amylin Analogue
- 5.3.2.1 Symlin (Pramlintide)
-
5.4 Combination drugs
- 5.4.1 Insulin combinations
- 5.4.1.1 NovoMix (Biphasic Insulin Aspart)
- 5.4.1.2 Ryzodeg (Insulin Degludec and Insulin Aspart)
- 5.4.1.3 Xultophy (Insulin Degludec and Liraglutide)
- 5.4.2 Oral Combinations
- 5.4.2.1 Janumet (Sitagliptin and Metformin)
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 Novo Nordisk A/S
- 7.1.2 Takeda
- 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 Aventis
- *List Not Exhaustive
-
7.2 COMPANY SHARE ANALYSIS
- 7.2.1 Novo Nordisk A/S
- 7.2.2 Sanofi Aventis
- 7.2.3 Eli Lilly
- 7.2.4 Merck and Co.
- 7.2.5 Others
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
South Korea Diabetes Drugs Industry Segmentation
Diabetes Drugs are used to manage Diabetes Mellitus by Lowering the Glucose Level in the Blood. The South Korea Diabetes Drugs Market is Segmented into Drugs (Insulin Drugs, Oral Anti-Diabetic Drugs, Non-Insulin Injectable Drugs, And Combination Drugs). The Report offers the Value (In USD) and Volume (In Units) for the above Segments.
| Insulins | Basal or Long Acting Insulins | Lantus (Insulin Glargine) |
| Levemir (Insulin Detemir) | ||
| Toujeo (Insulin Glargine) | ||
| Tresiba (Insulin Degludec) | ||
| Basaglar (Insulin Glargine) | ||
| Insulins | Bolus or Fast Acting Insulins | NovoRapid/Novolog (Insulin Aspart) |
| Humalog (Insulin Lispro) | ||
| Apidra (Insulin Glulisine) | ||
| Insulins | Traditional Human Insulins | Novolin/Actrapid/Insulatard |
| Humulin | ||
| Insuman | ||
| Insulins | Biosimilar Insulins | Insulin Glargine Biosimilars |
| Human Insulin Biosimilars | ||
| Oral Anti-diabetic drugs | Biguanides | Metformin |
| Oral Anti-diabetic drugs | Alpha-Glucosidase Inhibitors | Alpha-Glucosidase Inhibitors |
| Oral Anti-diabetic drugs | Dopamine D2 receptor agonist | Bromocriptin |
| Oral Anti-diabetic drugs | SGLT-2 inhibitors | Invokana (Canagliflozin) |
| Jardiance (Empagliflozin) | ||
| Farxiga/Forxiga (Dapagliflozin) | ||
| Suglat (Ipragliflozin) | ||
| Oral Anti-diabetic drugs | DPP-4 inhibitors | Onglyza (Saxagliptin) |
| Tradjenta (Linagliptin) | ||
| Vipidia/Nesina(Alogliptin) | ||
| Galvus (Vildagliptin) | ||
| Oral Anti-diabetic drugs | Sulfonylureas | Sulfonylureas |
| Oral Anti-diabetic drugs | Meglitinides | Meglitinides |
| Non-Insulin Injectable drugs | GLP-1 receptor agonists | Victoza (Liraglutide) |
| Byetta (Exenatide) | ||
| Bydureon (Exenatide) | ||
| Trulicity (Dulaglutide) | ||
| Lyxumia (Lixisenatide) | ||
| Non-Insulin Injectable drugs | Amylin Analogue | Symlin (Pramlintide) |
| Combination drugs | Insulin combinations | NovoMix (Biphasic Insulin Aspart) |
| Ryzodeg (Insulin Degludec and Insulin Aspart) | ||
| Xultophy (Insulin Degludec and Liraglutide) | ||
| Combination drugs | Oral Combinations | Janumet (Sitagliptin and Metformin) |
South Korea Diabetes Drugs Market Research FAQs
How big is the South Korea Diabetes Drugs Market?
The South Korea Diabetes Drugs Market size is expected to reach USD 1 billion in 2024 and grow at a CAGR of 4.04% to reach USD 1.22 billion by 2029.
What is the current South Korea Diabetes Drugs Market size?
In 2024, the South Korea Diabetes Drugs Market size is expected to reach USD 1 billion.
Who are the key players in South Korea Diabetes Drugs Market?
AstraZeneca, Boehringer Ingelheim, Eli Lilly and Company, Novo Nordisk A/S and Sanofi Aventis are the major companies operating in the South Korea Diabetes Drugs Market.
What years does this South Korea Diabetes Drugs Market cover, and what was the market size in 2023?
In 2023, the South Korea Diabetes Drugs Market size was estimated at USD 0.96 billion. The report covers the South Korea Diabetes Drugs Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the South Korea Diabetes Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Diabetes Drugs Industry Report
Statistics for the 2024 South Korea Diabetes Drugs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Diabetes Drugs analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
