Domestic firms expand share while the foreign firms struggle in the outpatient prescription market
71.71% share of domestic prescription amount in Q3, YoY 1.33%↑ Foreign affiliates, big and small-medium enterprises’ share fell
The market share of domestic companies in the outpatient market is steadily rising.
Since the same upper limit price was applied to the same ingredient and content products in 2012, an uptrend of foreign affiliates has continued.
However, the share of foreign firms has regularly declined in recent years. It has fallen more than 1% in the past year alone, threatening the 28% level.
According to the UBIST, the market share of prescription amount for foreign corporations was 28.23%, down 1.33%p YoY.
The share of foreign firms, which started at 29.60% in Q1 of last year and declined to 28.70% in Q1, rebounded slightly to 28.89% in Q2 due to the spread of COVID-19.
However, it turned to a downtrend again in Q3 by plunging to 28.23%, struggling to maintain a 28% level.
The slump of foreign corporations was more pronounced among the top companies. The top 10 foreign firms’ market share has declined 0.85%p to 19.64% over the past year.
In particular, 8 of the top 10 companies fell simultaneously except for Boehringer Ingelheim and Daiichi Sankyo.
Pfizer, the only foreign company with a 3% share, also fell 0.26% in a year, while MSD, AstraZeneca, Novartis, Astellas, GSK, Bayer, and BMS declined as well.
Still, Boehringer Ingelheim and Daiichi Sankyo’s share only increased by 0.02%p and 0.01%p.
Besides these 10 companies, the market share of the remaining foreign firms also sunk 0.48%p to 8.59% from 9.07% over the past year.
On the other hand, domestic small and medium enterprises showed strong performance. Except for the top 10 companies, their share rose 1.06%p from 46.88% to 47.94% in a year.
The top 10 domestic firms also expanded by 0.28% to 23.83% during the same period, contributing to the rise of domestic companies.
While 8 out of 10 foreign affiliates’ share fell, 8 out of 10 domestic firms rose, making a striking contrast.
Hanmi Pharmaceutical, the only 4% market share in the outpatient prescription market, increased 0.15%p over a year to 4.46%, and Chong Kun Dang gained 0.04%p to 3.97%.
Shares of HK inno.N, Yuhan Corp., Daewoong Bio, Dong-A ST, Daewon Pharmaceutical, and Hutecs also advanced YoY, but Daewoong Pharmaceutical and Handok declined YoY.