This 12 months’s Okay-bio pharmaceutical exports are projected to surpass $10 billion. This outcomes from secure development in exports to the USA and the European Union (EU), mixed with the results of market diversification centered on the World South.
In keeping with the Pharmaceutical Export Traits and Alternative Markets report revealed by KOTRA on Dec. 22, pharmaceutical exports by means of October this 12 months totaled $8.62 billion, a 13.2% improve in comparison with the identical interval final 12 months. KOTRA forecasts that breaking by means of $10 billion in pharmaceutical exports will likely be attainable if present tendencies proceed. Final 12 months’s export quantity was $9.27 billion.
Biopharmaceutical exports recorded $5.39 billion, a 15.6% improve from final 12 months, main exports to superior markets together with the USA and EU. Uncooked pharmaceutical materials exports additionally confirmed secure development, recording $1.75 billion, a 1.8% improve from the earlier 12 months.
Exports to World South markets together with Thailand, Mongolia, and Latin America additionally elevated considerably. Pharmaceutical exports to Thailand totaled $120 million from January to October, a 15.3% improve in comparison with the identical interval final 12 months. At the side of Okay-beauty reputation, exports of beauty and medical merchandise elevated 18.4% in comparison with the earlier 12 months to $22.48 million.
In Latin America as effectively, as Okay-beauty reputation unfold, exports of beauty pharmaceutical merchandise corresponding to Botox elevated 34% in comparison with the identical interval final 12 months, rising to $68.51 million. Exports to Brazil surged 49% to $42.43 million, increasing export quantity and drawing consideration as a promising market.
The strengths of Okay-bio recognized by abroad consumer firms are innovation and reliability. In keeping with a survey performed by KOTRA in October concentrating on firms and consumers taking part within the 2025 World BioPharma Plaza, glorious high quality (66%) and progressive expertise (54%) have been chosen as strengths of Korean prescribed drugs.
KOTRA President Kang Kyung-sung said, “This report confirms that the elevated standing of Okay-Bio following the pandemic has been acknowledged in each superior and rising markets,” including, “As main international locations’ methods to diversify import sources for medical provide chain stabilization are additionally creating alternatives, we’ll diversify pharmaceutical export markets and merchandise by means of custom-made assist for promising objects corresponding to bio and uncooked prescribed drugs and AI-based platforms.”
