Republic of Korea: Market for Other Medicaments For Therapeutic Or Prophylactic Uses 2024

Market Size for Other Medicaments For Therapeutic Or Prophylactic Uses in Republic of Korea

The South Korean market for other medicaments for therapeutic or prophylactic uses rose modestly to $X in 2022, picking up by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Consumption of peaked in 2022 and is expected to retain growth in the near future.

Production of Other Medicaments For Therapeutic Or Prophylactic Uses in Republic of Korea

In value terms, production of other medicaments for therapeutic or prophylactic uses dropped to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Production of peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Other Medicaments For Therapeutic Or Prophylactic Uses

Exports from Republic of Korea

In 2022, after three years of decline, there was significant growth in overseas shipments of other medicaments for therapeutic or prophylactic uses, when their volume increased by X% to X tons. In general, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of other medicaments for therapeutic or prophylactic uses skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), India (X tons) and Egypt (X tons) were the main destinations of exports of other medicaments for therapeutic or prophylactic uses from South Korea, with a combined X% share of total exports. Congo, Jordan, Vietnam, Bangladesh, the Philippines, Canada, Morocco, the UK, Myanmar and Turkey lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), India ($X) and Egypt ($X) constituted the largest markets for other medicaments for therapeutic or prophylactic uses exported from South Korea worldwide, together accounting for X% of total exports. Jordan, Canada, Morocco, the UK, Bangladesh, Congo, the Philippines, Turkey, Vietnam and Myanmar lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for other medicaments for therapeutic or prophylactic uses stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price recorded a deep setback. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X,861 per ton), while the average price for exports to Myanmar ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Medicaments For Therapeutic Or Prophylactic Uses

Imports into Republic of Korea

Imports of other medicaments for therapeutic or prophylactic uses into South Korea surged to X tons in 2022, growing by X% on 2021 figures. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of other medicaments for therapeutic or prophylactic uses expanded rapidly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Canada (X tons), China (X tons) and Germany (X tons) were the main suppliers of imports of other medicaments for therapeutic or prophylactic uses to South Korea, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Norway ($X) constituted the largest other medicaments for therapeutic or prophylactic uses suppliers to South Korea, together comprising X% of total imports. Canada, Slovenia, India, France, Italy, Vietnam, Japan and Denmark lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Canada, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for other medicaments for therapeutic or prophylactic uses stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price showed a abrupt slump. The pace of growth appeared the most rapid in 2020 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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