Republic of Korea: Antisera Market 2024

Antisera Market Size in Republic of Korea

For the third consecutive year, the South Korean antisera market recorded growth in sales value, which increased by 17% to $X in 2021. Overall, consumption posted a prominent increase. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in years to come.

Antisera Production in Republic of Korea

In value terms, antisera production reduced sharply to $X in 2021 estimated in export price. Over the period under review, production, however, showed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 78% against the previous year. As a result, production attained the peak level of $X, and then declined markedly in the following year.

Antisera Exports

Exports from Republic of Korea

In 2021, overseas shipments of antisera and other blood fractions decreased by -50.8% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 196% against the previous year. As a result, the exports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, antisera exports shrank sharply to $X in 2021. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 185%. The exports peaked at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

Germany (X tons), Singapore (X tons) and Turkey (X tons) were the main destinations of antisera exports from South Korea, with a combined 46% share of total exports. These countries were followed by the United States, Vietnam, Italy, Canada, Thailand, Denmark, Indonesia, Brazil, Slovakia and Greece, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +444.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for antisera exported from South Korea were Germany ($X), the United States ($X) and Turkey ($X), together accounting for 49% of total exports. Singapore, Italy, Brazil, Vietnam, Slovakia, Denmark, Canada, Thailand, Indonesia and Greece lagged somewhat behind, together comprising a further 17%.

Denmark, with a CAGR of +872.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average antisera export price amounted to $X per ton, with an increase of 18% against the previous year. Over the period under review, the export price continues to indicate a moderate increase. The growth pace was the most rapid in 2017 when the average export price increased by 93% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Antisera Imports

Imports into Republic of Korea

In 2021, supplies from abroad of antisera and other blood fractions decreased by -10.1% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2020 with an increase of 34%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, antisera imports contracted rapidly to $X in 2021. In general, imports, however, showed strong growth. The pace of growth was the most pronounced in 2018 when imports increased by 33%. Imports peaked at $X in 2020, and then contracted notably in the following year.

Imports by Country

Germany (X tons), the United States (X tons) and China (X tons) were the main suppliers of antisera imports to South Korea, together accounting for 79% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +106.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest antisera suppliers to South Korea were the United States ($X), Germany ($X) and Turkey ($X), together accounting for 57% of total imports. These countries were followed by Switzerland, Ireland, Japan, China and Taiwan (Chinese), which together accounted for a further 28%.

China, with a CAGR of +107.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average antisera import price amounted to $X per ton, dropping by -25.6% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, antisera import price decreased by -38.7% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 38%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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