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Market for NSCLC Drugs in South Korea to Grow to 54,320 Patients in 2017 Finds Frost & Sullivan - Targeted therapies offer hope in the face of low survival rates and increasing incidence - Pharma.Frost.com
Market for NSCLC Drugs in South Korea to Grow to 54,320 Patients in 2017 Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Kuala Lumpur, Malaysia, 2012/01/12 - Targeted therapies offer hope in the face of low survival rates and increasing incidence - Pharma.Frost.com.

   
 
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Approximately 85.0 per cent of lung cancer patients in South Korea are afflicted with non-small cell lung cancer (NSCLC), creating a plethora of opportunities for pharmaceutical companies to expand their portfolios of drugs for this disease. Pharmas' R&D efforts will be bolstered by South Korea's advanced medical and research infrastructure, combined with the burgeoning biotechnology industry.

New analysis from Frost & Sullivan (pharma.frost.com), Non-small Cell Lung Cancer Drug Market in South Korea, finds that the market earned revenues of US$96.0 million 2010 and expects this to reach US$219.0 million in 2017.

South Korea's aging population presents drug manufacturers with a vast market, as patients are generally aged 65 or above at the time of diagnosis. In addition to this, the majority of patients are in stage III or IV at the time of diagnosis, where the primary treatment involves drugs.

"Due to the universal health insurance coverage provided by the South Korean government, the majority of diagnosed patients are able to seek treatment," says Frost & Sullivan Research Analyst Neha Koul. "The high level of access means that patients can comply with the drug regimen prescribed by their physician, although the choice of drugs will depend on the reimbursement provided by the government."

As the levels of early diagnosis are low, it reduces the patient volume that could benefit from drug therapy. Further, the lack of a regular screening program and the often innocuous early signs of the disease impede the likelihood of an early diagnosis. In this scenario, sponsoring disease awareness programs to aid the identification of risk factors and early symptoms of NSCLC is the need of the hour.

Manufacturers can also capture a larger market share by developing drugs that prolong survival and decrease the severity of the side effects. However, before they can commercially launch their new drugs, they need to conduct rigorous clinical trials and studies to prove the drugs' efficacy so that the government grants them reimbursement status.

"A new drug application must show clear improvement in patients and has to be backed by solid data, especially since the approval process has become more stringent in recent years," notes Koul.

Among the drugs in the late stages (phase II and III) of trials, targeted therapies are expected to dominate the market. Although these novel drugs herald a more personalized approach to treatment, they are also known as 'premium priced' therapies and come with hefty price tags. Other drugs that are showing considerable promise at the trial stages are NSCLC vaccines, which stimulate the patient's own immune system to generate a non-toxic and longer-term antitumor response.

Multinational and foreign companies are expected to increasingly acquire niche biotechnology companies, such as those developing biosimiliars or innovative biopharmaceuticals for NSCLC.

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your contact details.

Non-small Cell Lung Cancer Drug Market in South Korea is part of the Pharmaceutical & Biotechnology Growth Partnership Services program. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Non-small Cell Lung Cancer Drug Market in South Korea / P527

 
 
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Market for NSCLC Drugs in South Korea to Grow to 54,320 Patients in 2017 Finds Frost & Sullivan

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