In South Korea, drug reimbursement decision-making is done by Health Insurance Review Agency (HIRA) based on the potential role and use of the medicine in the context of the country’s national health system. Understanding this market allows pharmaceutical manufacturers to plan clinical trials and evidence submission in South Korea for oncology products and gain quicker market access. South Korea represents an important market for industry because of its advanced economy and sizeable population. However, the country’s implicit cost-effectiveness thresholds may lead to either lack of reimbursement or requirement for a risk-sharing agreement that limits South Korea’s financial risk. Understanding the evidence requirement by the reimbursement agency for clinical and economic decision-making could possibly result in quicker patient access to innovative treatments and hence would benefit overall public health.
As our valued client, you receive access to the analysis. We hope that you find it useful. If you’d like to engage with our analysts, please let us know.
