Overcoming Challenges: The Path to Market Growth Amidst High Costs and Regulatory Barriers in South Korea
Despite its significant growth, the South Korea Dravet Syndrome Market faces considerable challenges, including the high cost of treatments and complex regulatory barriers. Addressing these issues is crucial for sustained market expansion. A comprehensive report on the South Korea Dravet Syndrome Market acknowledges these hurdles, even as it forecasts a market increase from $13.75 million in 2024 to $34.5 million by 2035, with a compound annual growth rate (CAGR) of 8.72%. The high price tag of innovative therapies, particularly those for rare diseases, can limit patient access and put a strain on public and private healthcare systems. Additionally, the small patient population and the scientific complexities of the syndrome make clinical trials and drug approvals a challenging and time-consuming process. These factors can create delays in bringing new treatments to market, impacting the speed of market growth.
However, the market is actively working to overcome these obstacles. The South Korean government and patient advocacy groups are collaborating to improve reimbursement policies and establish support programs that help families access necessary medications. Furthermore, the Ministry of Food and Drug Safety is streamlining approval processes for orphan drugs, recognizing the urgent need for new treatments.