Group items tagged

The South Korean pharmaceutical industry is highly fragmented, with almost all the domestic pharmaceutical companies having a strong portfolio of generic products rather than expensive, branded drugs. An increase in insurance coverage, an ageing population and favorable government initiatives are expected to drive future growth in the pharmaceutical industry in South Korea. Improved intellectual property rights, changing demographics and government support have contributed towards making the South Korean pharmaceutical industry attractive for MNCs.

Taiwan's pharmaceutical market was worth USD 4.4 billion in 2012 having grown at a CAGR of 2.9%. It is estimated to reach USD 5.5 billion by 2018, growing at a CAGR of 3.9%. Although the size of the market is small compared with other growing markets in Asia, it is expected to provide a market entry point for companies wishing to launch their products in other larger markets.

Social media marketing has gained increased focus, and retail banks are changing their business models and product offerings to cater to the ballooning market of social media users. The increasing prevalence of the internet and widespread adoption of smartphones have fuelled social media expansion, with more than half the internet population now engaged in social networking. Although the use of social media remains risky territory for many banks, some have started to explore opportunities in this channel. However, despite initial skepticism by retail banks, social media is expected to emerge as a key complimentary channel for business development. Banks are expected to focus more on synergies that can be generated by social media and other key channels over the next five years.