Forecast: Diabetes Medicine Use in South Korea

Between 2013 and 2023, South Korea's usage of diabetes medicine has shown a steady increase, marked by variability in annual growth rates. In 2013, the usage stood at 65.4 units per thousand persons per day. After occasional fluctuations, it began to rise consistently starting from 2018. By 2023, the usage reached 84.8 units, representing a meaningful growth over the decade. Notably, the last two years have shown stable increments close to 4%, with recent years exhibiting higher annual growth rates nearing 8% in 2020 and 2021. The compound annual growth rate (CAGR) over the past five years up to 2023 was approximately 5.4%.

Looking ahead from 2024 to 2028, forecasts suggest a continued rise in usage, albeit at a moderated pace with a 5-year CAGR of 1.36%. By 2028, the usage is expected to reach 93.4 units. Factors to monitor include advancements in diabetes treatment, healthcare policies, and demographic changes such as aging population which may influence future trends in medication use.

Future trends to watch for:

• Technological advancements in diabetes management and treatment options.
• Policy changes in healthcare funding and drug approvals.
• Shifts in lifestyle and diet that may impact diabetes prevalence.
• Population aging and associated increases in chronic disease incidences.