The number of licensed pharmacists in South Korea has shown steady growth from 2013 to 2023, standing at 79.24 thousand persons in 2023. Year-on-year variation reveals a consistent increase, with the past two years (2022 to 2023) showing a slight deceleration in growth rate at 1.53%. Over the last five years, the compound annual growth rate (CAGR) was around 1.96%, indicating consistent demand for pharmaceutical services.
Forecasts from 2024 to 2028 predict a continued rise in the number of licensed pharmacists, albeit at a slower average annual rate with a forecasted CAGR of 1.12%, leading to an expected total of 85.04 thousand persons by 2028. This forecasted period shows a growth rate of 5.74% over five years.
Key future trends to watch for include:
- Potential impacts of technological advancements in pharmaceutical practice.
- Policy changes and health initiatives that may influence the demand for pharmacists.
- Shifts in population demographics, particularly aging, which might increase the need for medication management and pharmaceutical care.
