South Korea Pregabalin Market Outlook

south korea is one of the world’s leading producers of pharmaceutical products. according to the international trade center, south korea exported us$ 6.19 billion worth of drugs and pharmaceutical products in 2017. global demand for pregabalin, a medication used for the treatment of epilepsy, neuropathic pain, fibromyalgia, restless leg syndrome, and other neurological disorders, has increased significantly from its launch in 2004. as such, the south korean market for pregabalin was estimated to be valued at us$ 32 million in 2018. with the aging population of south korea, it is expected that demand for pregabalin in the market will continue to grow in the next decade. south korea has a high healthcare expenditure as percentage of gdp and is a major supporter of biopharmaceuticals r&d, which make it attractive to the medical industry. various government initiatives and innovation has further propelled the demand for pregabalin in the country. strong spending power of the population in south korea encourages people to avail quality medicines. as a result of the surging demand, it is likely that the market size for pregabalin in south korea will increase in the next ten years, and gradually reach us$ 135 million by 2032. though surrounded by the markets of developed countries, the government of south korea has been taking effectual steps to facilitate the growth of the pregabalin market. various organizations are engaging in creating a strong healthcare extravaganza in the country. several pharma industry events are being organized to promote the industry’s stature and create partnerships. they are angling to gain knowledge about how the pregabalin market is performing in the country and also devising strategies to strengthen their existing products in the market. overall, it can be anticipated that the south korean pregabalin market will continue to register a healthy growth rate in the forecast period of 2018-2032. market players will need to undertake effective promotional campaigns as they extend their market presence. by launching innovative products and strengthening collaborations, the south korean pregabalin market can more effectively tap the potential that exists in the country.