South Korea Anti-Rheumatic Drug Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type Of Disease (Osteoarthritis, Rheumatoid Arthritis, Gout, Lupus, Others), By Drug Class (Disease-modifying Anti-Rheumatic Drugs (DMARDs), Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, JAK Inhibitor, Others), And By Sales Channel (Prescription, Over-the-counter (OTC)) - Forecasts From 2022 To 2027

South Korea’s antirheumatic drugs market was valued at US$4,414.190 million in 2020. The market is projected to grow at a CAGR of 3.87% to attain a value of US$5,757.048 million by 2027. The growth of the market in this country is majorly attributed to the growing geriatric population on account of a good healthcare system across the country. According to data from the World Bank Group, the proportion of the South Korean population aged 65 and above was 7.51% in 2001, and this number had risen to 14.42% in 2018. Even if someone contracts the disease at a young age, symptoms of rheumatoid arthritis usually appear at this age.  Therefore, the rising geriatric population in South Korea will continue to drive with it the cases of rheumatoid arthritis, thus boosting the market growth of antirheumatic drugs in the country.

Furthermore, supportive government policies and measures in order to provide affordable healthcare services are also shaping the growth of the antirheumatic drug market in South Korea. The availability of insurance coverage is further increasing the sales of medicines among people undergoing treatment for the disease, thus augmenting the market growth of antirheumatic drugs in the country. Fairly high cases of malaria in these Asian countries and the availability of both generic and over-the-counter (OTC) drugs for the treatment of the disease are also contributing to the market growth of anti-rheumatic drugs.

COVID-19 SCENARIO

The outbreak of Non-steroidal anti-inflammatory drug (NSAID) use could worsen disease severity in COVID-19 patients, according to a theory. NSAIDs are a crucial analgesic and are readily available to the general public without a prescription, especially in patients with rheumatological diseases. NSAIDs are not linked to worse COVID-19 outcomes, according to evidence from administrative records, short studies of hospitalized patients, and community research. We sought to define the safety of NSAIDs and determine if prior NSAID use was linked to a worsening of COVID-19 disease.

KEY DEVELOPMENT

• APR 2022- GSK's and SK Bioscience's agreement in a phase III research, the COVID-19 vaccine candidate met the coprimary goals; in South Korea, a biologics license application for SKYCovioneTM (GBP510/GSK adjuvant) has been made.

The South Korean antirheumatic drugs market has been segmented based on the type of disease, type of molecule, and sales channel. By type of disease, the market has been segmented as osteoarthritis, rheumatoid arthritis, gout, lupus, and others. By type of molecule, the South Korean antirheumatic drug market has been classified into pharmaceuticals and biopharmaceuticals. The market segmentation has also been done by sales channel as prescription and over-the-counter (OTC).

Segmentation

• By Type of Disease
  • Osteoarthritis
  • Rheumatoid Arthritis
  • Gout
  • Lupus
  • Others
• By Drug Class
  • Disease-modifying Anti-Rheumatic Drugs (DMARDs)
  • Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
  • Corticosteroids
  • JAK inhibitor
  • Others
• By Sales Channel
  • Prescription
  • Over-The-Counter (OTC)