South Korea: pharmaceutical market size| ��ƽ��

Market size of the pharmaceutical industry in South Korea from 2013 to 2024 (in trillion South Korean won)

Characteristic	Market value in trillion South Korean won
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Release date

January 2026

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Region

South Korea

Survey time period

2013 to 2024

Supplementary notes

Pharmaceuticals in this statistic include medicinal products, drugs, ultra-narcotics, psychotropic drugs, and active pharmaceutical ingredients.

Figures have been rounded.

1,000 South Korean won equals 0.67 U.S. dollars or 0.57euros as of May 2026.

Citation formats

In 2024, the market size of the pharmaceutical industry in South Korea amounted to **** trillion South Korean won. The market size has generally been increasing since 2013.

Pharmaceuticals in Korea

Many Korean pharmaceutical companies manufacture high-quality products, with leading companies including Celltrion, Hanmi Pharmaceutical, and others. Celltrion recorded a production value of around *** trillion won in 2023. Most drugs produced in South Korea that year were prescription drugs. Injections and oral intake drugs were particularly common.

COVID-19 and Korean Pharmaceutical

Like many others, the Korean pharmaceutical industry was affected by the coronavirus (COVID-19) pandemic. In the first half of 2020, Celltrion saw its revenue grow by **** percent compared to the same period in the previous year. This was thanks to Celltrion’s COVID-19 antibody treatments, and led to the company having the largest revenue among Korean pharmaceuticals at the time. Pharmaceutical exports rose sharply in March 2020, as the coronavirus pandemic spread around the globe, to nearly *** million U.S. dollars’ worth. This was approximately *** times more than the previous month’s export value.