Republic of Korea: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Republic of Korea

The South Korean penicillins or streptomycins medicaments market rose to $X in 2022, with an increase of 1.7% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Republic of Korea

In value terms, penicillins or streptomycins medicaments production amounted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 48%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports from Republic of Korea

In 2022, after two years of growth, there was significant decline in overseas shipments of medicaments of penicillins, streptomycins or derivatives thereof, when their volume decreased by -7.5% to X tons. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 14% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, penicillins or streptomycins medicaments exports declined dramatically to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 32%. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Japan (X tons) was the main destination for penicillins or streptomycins medicaments exports from South Korea, accounting for a 66% share of total exports. Moreover, penicillins or streptomycins medicaments exports to Japan exceeded the volume sent to the second major destination, Bangladesh (X tons), sixfold. The third position in this ranking was held by Pakistan (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+11.8% per year) and Pakistan (+13.5% per year).

In value terms, Japan ($X) remains the key foreign market for medicaments of penicillins, streptomycins or derivatives thereof exports from South Korea, comprising 83% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 5.5% share of total exports. It was followed by Vietnam, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+24.8% per year) and Vietnam (+0.5% per year).

Export Prices by Country

The average penicillins or streptomycins medicaments export price stood at $X per ton in 2022, which is down by -9.7% against the previous year. In general, the export price showed a perceptible reduction. The growth pace was the most rapid in 2018 when the average export price increased by 27%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+11.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports into Republic of Korea

In 2022, supplies from abroad of medicaments of penicillins, streptomycins or derivatives thereof decreased by -5.8% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports showed a noticeable reduction. The pace of growth appeared the most rapid in 2016 when imports increased by 118%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, penicillins or streptomycins medicaments imports contracted to $X in 2022. In general, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2016 when imports increased by 126%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest supplier of penicillins or streptomycins medicaments to South Korea, accounting for a 85% share of total imports. Moreover, penicillins or streptomycins medicaments imports from the UK exceeded the figures recorded by the second-largest supplier, France (X tons), ninefold. The third position in this ranking was held by Italy (X tons), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK totaled +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+89.4% per year) and Italy (-30.4% per year).

In value terms, the UK ($X) constituted the largest supplier of medicaments of penicillins, streptomycins or derivatives thereof to South Korea, comprising 87% of total imports. The second position in the ranking was taken by Italy ($X), with a 4.1% share of total imports. It was followed by France, with a 2% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at +28.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-27.5% per year) and France (+69.6% per year).

Import Prices by Country

The average penicillins or streptomycins medicaments import price stood at $X per ton in 2022, which is down by -8% against the previous year. Overall, the import price recorded a slight slump. The pace of growth appeared the most rapid in 2020 an increase of 48% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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