Why this is important to Wisconsin businesses: Demand is rising for medications to fight obesity and diabetes, and Wisconsin companies in that sector may find opportunities.
South Korea’s biohealth industry is poised for significant growth in 2025 as a result of the country’s high obesity rate.
The Korea Disease Control and Prevention Agency said obesity rates have remained high since 2020, primarily due to lifestyle changes brought on by the pandemic. The agency said more than one-third of the country’s population (37%) is now considered obese.
As a result, several South Korean pharmaceutical companies are working on products to combat obesity. Daewoong Pharmaceutical, TionLab Therapeutics, Daehan New Pharm, and Dalim Biotech are developing a four-week, long-acting obesity treatment injection, while Hanmi Pharmaceutical is advancing Efpeglenatide (HM 11260C), a drug designed for weight reduction and diabetes control. It is set for release in 2026.
South Korea’s biohealth industry is projected to grow at an annual rate of nearly 9%, reaching $370.3 billion by 2030 and ranking eighth globally, according to a market outlook released by the Korea Health Industry Development Institute. South Korea’s biohealth sector was valued at $215.9 billion in 2023.
As public interest in health surges and demand for medical products continues to grow, possibilities may emerge for Wisconsin health care and pharmaceutical companies to establish collaborations in South Korea.
Related Posts
