Forecast: Import of Blood, Antisera, Vaccines, Toxins and Cultures to South Korea

South Korea's import of blood, antisera, vaccines, toxins, and cultures showed a steady increase from 2013 to 2018, driven by rising demand for medical products. The growth rate was particularly high in 2018 at 22.76%, supporting a CAGR of 13.45% during that period. However, from 2019 through 2023, growth rates fluctuated, peaking at 10.38% in 2020 and dipping to negative growth in 2022. The value of imports in 2023 stood at 2.4761 billion USD, reflecting a year-on-year growth of 4.19% and a reduced 5-year CAGR of 3.83%.

Looking forward, forecast data from 2024 to 2028 indicate a continued though moderated growth, with a 5-year CAGR of 2.67%. Total growth over this period is forecasted to be around 14.09%. Future trends to monitor include advancements in bio-pharmaceuticals, new vaccine developments, and potential regulatory changes affecting import dynamics. Factors such as global health crises or shifts in healthcare policy could significantly impact these forecasts.