South Korean Oncology Drugs Market Size, Share, Growth, Competitive Analysis, and Forecast to 2028

The increasing prevalence of cancer is one of the major factors driving the growth of the South Korean oncology drugs market. According to the Korea Cancer Association, the number of cancer patients in South Korea is expected to reach 2.7 million by 2025. This increase in the number of cancer patients is attributed to the aging population, unhealthy lifestyle, and environmental factors.

The rising government initiatives to support cancer research and development is another factor driving the growth of the South Korean oncology drugs market. The South Korean government has been investing heavily in cancer research and development. In 2019, the government allocated KRW 1.5 trillion (USD 1.3 billion) for cancer research and development. This investment is expected to lead to the development of new and innovative cancer therapies.
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