Global Pharma Supplies $320.8 Billion in Clinical Research Medicines in 2023

In 2023, international pharmaceutical firms supplied clinical trial medications to local patients valued at approximately 320.8 billion won. The overall quantity of clinical trials carried out that year was 1,723, reflecting a 7.7 percent rise from the prior year. In the last five years, the quantity of clinical trials has increased at an average yearly rate of 2.9 percent, with phase 3 trials experiencing the most significant rise—an increase of 12.8 percent to reach 644 trials.

“Global pharmaceutical companies continue to bring crucial trials to Korea, maintaining a positive trend for five consecutive years,” the KRPIA official said, noting that last year’s investment growth surpassed expectations. 

Moreover, the amount of early-phase clinical trials (phase 1 and 2) increased at an average annual rate of 14.5 percent and 7.9 percent, respectively, during the last five years. As stated by the KRPIA representative, this indicates that Korea's clinical trial capabilities, encompassing their quality, are receiving international acknowledgment.

The report additionally emphasized the continuous attention of global pharmaceutical firms on rare and serious illnesses. In 2023, cancer studies constituted 69.0 percent (975 trials) of significant clinical research, whereas rare disease studies represented 13.5 percent (191 trials). In the last five years, cancer research increased by 10.0 percent, while research on rare diseases expanded by 35.3 percent.

As stated by the KRPIA official, this ongoing investment is responsible for cultivating local expertise and facilitating the expansion of the pharmaceutical sector. In 2023, the overall count of R&D staff reached 2,299, indicating consistent growth since 2018. Importantly, clinical research staff constituted 52.9 percent of the R&D team.