The import of instruments and appliances used in dentistry to South Korea has shown a steady increase from 2013 to 2023, reaching 83.597 million US dollars in 2023. The growth rates have fluctuated, with notable peaks in 2014 and 2017 but some dips like in 2015. The year-on-year variation over the last two years was moderate with 0.42% in 2022 and 2.32% in 2023. Over the last five years, the compound annual growth rate (CAGR) was around 2.4%.
Looking ahead, the forecasted data suggests a continued upward trend, but at a slower CAGR of 1.6%, leading to an estimated value of 92.628 million US dollars by 2028, translating to a 8.25% overall growth rate over the next five years.
Future trends to watch for:
- Technological advancements in dental instruments leading to increased imports.
- Government policies affecting trade regulations.
- Shifts in global supply chains and their impact on costs and availability.
- Changes in consumer demand driven by demographic shifts and health trends.
