South Korea Vaccines Market Overview, 2028

South Korea Vaccines Market Overview, 2028

The South Korean vaccine industry stands at the forefront of healthcare innovation, embodying a nation's commitment to safeguarding public health. With a rich history of immunisation programmes and a strong foundation in pharmaceutical research and development, South Korea has emerged as a key player in the global vaccine market. This thriving industry is characterised by its dedication to disease prevention, cutting-edge research initiatives, and a robust regulatory framework. South Korean vaccine manufacturers have gained international recognition for their high-quality products and contributions to global health efforts. The history of vaccines in South Korea is a testament to the nation's dedication to public health and disease prevention. Vaccination efforts in South Korea began in the early 20th century during the Japanese colonial period, primarily focusing on smallpox vaccination. After the Korean War, South Korea embarked on a mission to rebuild its healthcare infrastructure, expanding vaccination programmes to combat infectious diseases. The establishment of the National Immunisation Programme (NIP) in 1982 marked a significant milestone, providing free vaccinations to all eligible individuals, with a strong emphasis on children. Over the years, South Korea continued to expand its vaccine coverage, introducing vaccines against diseases like hepatitis B, measles, rubella, Haemophilus influenzae type b (Hib), varicella (chickenpox), and pneumococcal disease. The country's proactive approach was evident in 2015 when it introduced the human papillomavirus (HPV) vaccine to combat cervical cancer. South Korea has also played an active role in responding to the COVID-19 pandemic, swiftly implementing vaccination programs. Beyond its borders, South Korea has contributed to global health initiatives, supporting vaccination programmes in other countries and participating in international efforts to combat vaccine-preventable diseases. South Korea's commitment to vaccines reflects its unwavering dedication to protecting the health and well-being of its population and contributing to global disease prevention efforts.

According to the research report, ""South Korea Vaccines Market Outlook, 2028,"" published by Bonafide Research, the South Korea Vaccines market is anticipated to grow at an 8% CAGR from 2023–2028. South Korea boasts a robust healthcare infrastructure with well-established hospitals, clinics, and pharmacies. This infrastructure facilitates the administration and distribution of vaccines, making them easily accessible to the population. The South Korean government plays a pivotal role in promoting vaccination as a fundamental aspect of public health. The government's financial support for vaccination programmes and its commitment to immunisation campaigns are instrumental in driving market growth. South Korea participates in global health initiatives and collaborates with international organisations to combat vaccine-preventable diseases worldwide. This commitment strengthens its role in the global vaccine market. South Korea leverages technological advancements in healthcare, such as digital health platforms and telemedicine, to enhance vaccine distribution and patient education. South Korean research institutions and pharmaceutical companies have invested in cutting-edge technologies for vaccine research. This includes the use of genomics, proteomics, and bioinformatics to identify and design vaccine candidates. Modern techniques like reverse vaccinology and structural biology are employed to better understand pathogens and develop targeted vaccines. South Korea has modern vaccine manufacturing facilities equipped with advanced biotechnology and process engineering. These facilities enable the production of vaccines using various technologies, including cell culture-based and recombinant DNA techniques. The adoption of single-use bioreactors and continuous manufacturing processes has improved efficiency and reduced production costs.

Based on the technology, it is segmented into conjugate vaccines, inactivated and subunit vaccines, live-attenuated vaccines, recombinant vaccines, and toxoid vaccines. In South Korea, conjugate vaccines are the leading market. Conjugate vaccines are designed to improve the immune response, particularly in infants and young children. By conjugating a weak antigen (e.g., a bacterial polysaccharide) with a carrier protein, these vaccines stimulate a more robust and effective immune response. This technology has proven highly effective in protecting against diseases caused by encapsulated bacteria, such as Haemophilus influenzae type b (Hib) and Streptococcus pneumoniae. South Korea places significant emphasis on paediatric vaccination. Conjugate vaccines, known for their effectiveness in children, are integral to the country's National Immunisation Programme (NIP). This programme ensures that children receive timely and comprehensive protection against vaccine-preventable diseases.

Based on the route of administration, they are segmented into intramuscular and subcutaneous administration, oral administration, and others. In this country, the Oral Administration is growing market. Oral vaccines can be particularly effective against diseases that enter the body through the gastrointestinal tract. South Korea may have specific disease concerns or outbreaks where oral vaccines are a suitable preventive measure. South Korea's public health authorities may have initiated vaccination campaigns that include the use of oral vaccines as part of their disease prevention and control strategies. Oral vaccines are often used for paediatric populations, and South Korea may have prioritised childhood vaccination programmes that incorporate oral vaccines to protect infants and young children from vaccine-preventable diseases. Oral vaccines can be more acceptable to certain patient populations, such as children or individuals with a fear of needles. High patient acceptance can drive demand for oral vaccines. According to the report, types are segmented into multivalent vaccines and monovalent vaccines. Among them in the monovalent vaccines growing market, South Korea, as a country with international travel and trade, may require or recommend monovalent vaccines for travellers to specific regions where vaccines are designed to protect against a single specific disease. If South Korea faces particular disease challenges or outbreaks that require targeted vaccination efforts, the demand for monovalent vaccines for those specific diseases may increase. Monovalent vaccines can be valuable tools in responding to disease outbreaks or public health emergencies. In the event of an outbreak, rapid vaccination campaigns using monovalent vaccines can help control the spread of the disease. Some diseases primarily affect specific high-risk populations. Monovalent vaccines may be used to protect these vulnerable groups, such as infants, the elderly, or individuals with certain medical conditions.

In terms of disease types, they include the rotavirus, pneumococcal diseases, cancer, influenza, diphtheria, pertussis, and tetanus, the human papilloma virus (HPV), hepatitis, shingles, meningococcal diseases, varicella, mumps, and others. Influenza is a seasonal respiratory illness that can lead to significant morbidity and mortality, especially among vulnerable populations. The seasonal nature of influenza necessitates annual vaccination, which contributes to the consistent demand for influenza vaccines. South Korea's public health authorities often run annual influenza vaccination campaigns to encourage the population, especially high-risk groups like the elderly, young children, and individuals with underlying health conditions, to get vaccinated. South Korea has a well-developed healthcare infrastructure that allows for the efficient distribution and administration of influenza vaccines across the country. The South Korean government may provide support for influenza vaccination campaigns, including funding, vaccine procurement, and awareness campaigns, to ensure widespread access and coverage. Influenza vaccination is particularly important for high-risk populations, including the elderly, pregnant women, healthcare workers, and individuals with chronic medical conditions. Efforts to protect these groups can drive the demand for influenza vaccines.

According to the end user segment, which includes paediatric vaccines and adult vaccines, in the country, adults are a growing end user. As new variants of the virus have emerged, booster shots have become necessary to maintain immunity. South Korea, like many other countries, has initiated booster vaccination programmes for adults, encouraging them to receive additional doses to enhance protection. The South Korean government, in collaboration with healthcare organisations, has launched public health campaigns to educate adults about the importance of vaccination. These campaigns dispel myths, provide accurate information, and encourage adults to stay up-to-date with recommended vaccines. The South Korean government provides subsidies or free vaccines for certain adult populations, such as the elderly or those with specific health conditions. These subsidies incentivize adults to get vaccinated. Public health concerns, such as the potential for disease outbreaks, emphasise the importance of adult vaccination as part of disease prevention strategies.

Based on the distribution channel, it includes hospital pharmacy, retail pharmacy, institutional sales, and others. In South Korea, retail pharmacies are growing as a distribution channel. Retail pharmacies are widely distributed across South Korea, including urban and rural areas. This accessibility makes it convenient for individuals to access vaccines without having to travel long distances to healthcare facilities. Pharmacists in South Korea are highly trained healthcare professionals. Their expertise in medication management and immunisation counselling makes them well-suited to administer vaccines and provide guidance on vaccination-related questions. Many retail pharmacies in South Korea offer digital services, including online appointment scheduling and electronic health records. These digital tools enhance the convenience of receiving vaccines at pharmacies. In many cases, vaccines administered at retail pharmacies are covered by health insurance, making them affordable for patients.

Considered in this report:
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• South Korea Vaccines market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Technology
• Conjugate vaccines
• Inactivated & Subunit vaccines
• Live Attenuated vaccines
• Recombinant vaccines
• Toxoid vaccines
• Viral vector vaccines
• Others

By Route of Administration
• Intramuscular and Subcutaneous Administration
• Oral Administration
• Others

By Disease
• Rotavirus
• Pneumococcal diseases
• Cancer
• Influenza
• Diphtheria, Pertussis, and Tetanus (DTP)
• Human Papilloma Virus (HPV)
• Hepatitis
• Shingles
• Meningococcal diseases
• Varicella (Chicken Pox)
• Mumps
• Others

By Type
• Multivalent vaccines
• Monovalent vaccines

By End-User Type
• Paediatrics
• Adults

By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Drone industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.