The number of practicing pharmacists in South Korea has shown a steady upward trend. From 2013 to 2023, the number grew from 32.54 to 41.98 thousand persons. Over recent years, particularly from 2017 onwards, year-on-year growth rates have been relatively higher, peaking at 8.94% in 2017 and stabilizing around 1.93% by 2023. The compound annual growth rate (CAGR) over the last five years leading up to 2023 stands at 2.1%, reflecting consistent growth in the profession.
Projecting into the future, the number of practicing pharmacists is forecasted to continue rising, reaching 45.83 thousand by 2028. The forecasted 5-year CAGR is slightly lower at 1.39%, indicating a slower growth rate compared to the previous five years but nonetheless showing positive progression.
Key future trends to watch for include:
- Further advancements in pharmaceutical technology and healthcare policies that could impact the demand for pharmacists.
- The influence of an aging population on the healthcare system leading to increased pharmaceutical care needs.
- Potential changes in pharmacy education and regulation that could affect the workforce size.
