Republic of Korea: Respiration Apparatus Market 2024

Respiration Apparatus Market Size in Republic of Korea

In 2021, the South Korean respiration apparatus market decreased by -8.7% to $X for the first time since 2015, thus ending a five-year rising trend. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +109.3% against 2015 indices. Respiration apparatus consumption peaked at $X in 2020, and then declined in the following year.

Respiration Apparatus Production in Republic of Korea

In value terms, respiration apparatus production contracted to $X in 2021 estimated in export price. Overall, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +96.3% against 2015 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 41%. As a result, production attained the peak level of $X, and then contracted in the following year.

Respiration Apparatus Exports

Exports from Republic of Korea

In 2021, shipments abroad of ozone therapy, oxygen therapy, aerosol therapy, respiration apparatus increased by 5.7% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 205% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, respiration apparatus exports expanded notably to $X in 2021. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 357%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Ethiopia (X tons), India (X tons) and Chile (X tons) were the main destinations of respiration apparatus exports from South Korea, with a combined 75% share of total exports. These countries were followed by Indonesia, Panama, the United States, Japan, Russia and Vietnam, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were in Panama (with a CAGR of +158.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for respiration apparatus exported from South Korea were India ($X), Ethiopia ($X) and Chile ($X), together comprising 62% of total exports.

Ethiopia, with a CAGR of +193.1%, saw the highest rates of growth with regard to the value of exports, among 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 respiration apparatus export price amounted to $X per ton, picking up by 4.2% against the previous year. Overall, the export price continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 50%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Russia ($X per ton), while the average price for exports to Panama ($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 Ethiopia (+46.2%), while the prices for the other major destinations experienced more modest paces of growth.

Respiration Apparatus Imports

Imports into Republic of Korea

In 2021, approx. X tons of ozone therapy, oxygen therapy, aerosol therapy, respiration apparatus were imported into South Korea; increasing by 14% compared with 2020. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 38%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, respiration apparatus imports soared to $X in 2021. Overall, imports posted buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 27%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest respiration apparatus supplier to South Korea, with a 32% share of total imports. Moreover, respiration apparatus imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was taken by Malaysia (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+17.0% per year) and Malaysia (+59.5% per year).

In value terms, the largest respiration apparatus suppliers to South Korea were New Zealand ($X), China ($X) and the United States ($X), with a combined 44% share of total imports. Mexico, Germany, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, Malaysia, with a CAGR of +42.2%, 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

In 2021, the average respiration apparatus import price amounted to $X per ton, with an increase of 4% against the previous year. In general, the import price, however, continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2017 an increase of 5.1%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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