In 2023, South Africa imported laboratory, hygienic, or pharmaceutical glassware valued at 5.0319 million USD. Since 2013, the trend shows fluctuations with significant drops in 2016 and 2020, followed by a slow recovery. Over the last two years, the import value decreased slightly by 0.83% and 0.82%, respectively. The Compound Annual Growth Rate (CAGR) for the past five years (2019-2023) is approximately -1.25%, indicating a declining trend.
Future projections up to 2028 suggest a continuous but slow decline with a forecasted 5-year CAGR of -0.69%. Expected import value by 2028 is around 4.8158 million USD.
Future trends to watch:
- Technological advancements in local manufacturing capabilities reducing dependency on imports.
- The impact of healthcare policy changes on pharmaceutical imports.
- Potential market disruptions due to global supply chain instability.
