Singapore, Aug 26, 2010: Having displayed fluctuating growth rates in the years 2005-2009, the South Korean pharmaceuticals market is expected to stabilize from 2010, showing slight deceleration in growth over the years up to 2014, says Research and Markets report titled "South Korea Pharmaceutical Market Analysis, 2010-2014".
The South Korea pharmaceuticals market generated total revenues of $9,603.3 million in 2009, representing a compound annual growth rate (CAGR) of 7 percent for the period spanning 2005-2009. In comparison, the Chinese and Japanese markets grew with CAGRs of 20.1 percent and 2.3 percent respectively, over the same period, to reach respective values of $23,796.9 million and $66,889.3 million in 2009.
Cardiovascular sales proved the most lucrative for the South Korea pharmaceuticals market in 2009, generating total revenues of $1,804.1 million, equivalent to 18.8 percent of the market's overall value. In comparison, alimentary/metabolism sales generated revenues of $1,335.7 million in 2009, equating to 13.9 percent of the market's aggregate revenues.
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