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Korean Healthcare Industry

home >Korean Healthcare Industry >Annual Growth in Healthcare Expenditure

Annual Growth in Healthcare Expenditure

The annual growth is the second highest in drug total healthcare expenditure among OECD members

  • 12.7% growth in drug expenditure
  • 10.2% in total healthcare expenditure
  • Drug Expenditure
  • Total Health expenditure
  • Ireland12.8%11.4%
  • Korea12.7%10.2%
  • United States9.6%4.8%
  • Australia9.1%4.3%
  • Hungary8.3%6.9%
  • Greece7.9%4.3%
  • Norway7.0%6.5%
  • Canada6.4%4.2%
  • Finland6.0%4.1%
  • Iceland5.8%3.5%
  • Austria5.6%5.9%
  • Nethrlands5.4%1.8%
  • Denmark5.0%4.6%
  • Czech4.6%2.8%
  • Requblic4.1%5.4%
  • Sweden4.0%5.4%
  • Luxembourg3.7%5.3%
  • Germany3.5%1.8%
  • Spain3.4%2.8%
  • Swizeriand3.4%2.8%
  • Italy3.2%3.2%
  • Japan2.2%3.0%
  • OECD6.1%4.8%
Source
: OECD Health Data 2005

Cause of Death

Main causes of death are Cancer, circulatory diseases, respiratory diseases, etc. Stomach, lung, and liver caners have high incidence in Korea. Globally, lung, stomach and breast cancers are the most prevalent. (Source : KSIS 2007)

  • Others 3%
  • Digestive system 7%
  • Endocrine & Metabolic 8%
  • Respiratory system 9%
  • Circulatory system 34%
  • Cancer 39%

Market Projection for Major Adult Diseases

Combined market for the major adult diseases is expected to grow to US$4 billion In 2012 at annual growth rate of 16%

Vasodilator, Diabetes, Arteriosclerosis, Cardiovascular, Antihypertensive

Market 2006 2007E 2012E CAGR
Vasodilator 142 157 235 11.0%
Arteriosclerosis 269 322 655 23.1%
Diabetes 342 390 684 15.2%
Cardiovascular 566 636 1,073 13.4%
Antihypertensive 775 895 1,436 17.3%