South Africa is considered as a fast growing market in the Global Pharmaceutical Industry Landscape. In the year 2010, the country was officially considered as a developed economy. Though there is an economic situation in many emerging economies, the South Korean market has managed to sail through and has shown itself as a good destination for investment.
Latest report on South Korean Pharmaceutical market states that the South Korean market is 10th largest market in the globe. The country has strong local players with formidable portfolios of generic drugs over expensive branded drugs. The domestic drug companies are strongly sticking to the concept of providing inexpensive generic drugs to maintain their strong hold in the market. The growing insurance coverage, ageing population promoting healthcare expenditure in South Korea, and government initiatives that are favouring the development of the industry are some of the major factors that would contribute the growth of the market.
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Multinational companies are taking advantage of prevailing opportunities in the country due to conducive market conditions in the South Korean regions. The free trade agreement signed by the South Korean government with countries such as USA, Europe and India is further making the region a favourite for multinational companies. The aforementioned positive indications has led the investing syndicates to be favourable towards the South Korean market. Transparent government policies and enforcements, and competitive pricing platforms in the private sectors would further add to the growth of the market.
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