Republic of Korea: Medicaments Containing Hormones Market 2024

Medicaments Containing Hormones Market Size in Republic of Korea

The South Korean medicaments containing hormones market rose slightly to $X in 2023, with an increase of X% against the previous year. Overall, the total consumption indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Medicaments containing hormones consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Medicaments Containing Hormones Production in Republic of Korea

In value terms, medicaments containing hormones production expanded slightly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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Medicaments Containing Hormones Exports

Exports from Republic of Korea

In 2023, medicaments containing hormones exports from South Korea dropped notably to X tons, declining by X% against the previous year. Over the period under review, exports, however, saw prominent growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, medicaments containing hormones exports fell dramatically to $X in 2023. Overall, exports, however, enjoyed tangible growth. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for medicaments containing hormones exports from South Korea, with a X% share of total exports. Moreover, medicaments containing hormones exports to Indonesia exceeded the volume sent to the second major destination, Georgia (X kg), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Indonesia stood at X%.

In value terms, Indonesia ($X) remains the key foreign market for medicaments containing hormones but not antibiotics exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Georgia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Indonesia amounted to X%.

Export Prices by Country

In 2023, the average medicaments containing hormones export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price saw a pronounced reduction. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Indonesia totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Hormones Imports

Imports into Republic of Korea

In 2023, approx. X tons of medicaments containing hormones but not antibiotics were imported into South Korea; picking up by X% on 2022. In general, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, medicaments containing hormones imports dropped markedly to $X in 2023. Overall, imports, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Japan (X tons) constituted the largest medicaments containing hormones supplier to South Korea, with a X% share of total imports. Moreover, medicaments containing hormones imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X kg), sixfold.

From 2012 to 2023, the average annual rate of growth in terms of volume from Japan was relatively modest.

In value terms, Japan ($X) and the United States ($X) appeared to be the largest medicaments containing hormones suppliers to South Korea.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2023, the average medicaments containing hormones import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a abrupt decrease. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Japan stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform