Health Industry Exports Up 10.2% Year-on-Year... Strong Growth in Pharmaceuticals and Cosmetics Exports

Record-High Pharmaceutical Exports in Q1
"Export Growth Expected to Continue"

The Korea Health Industry Development Institute (KHIDI) announced on June 4 that health industry exports (pharmaceuticals, medical devices, and cosmetics) in the first quarter reached $6.52 billion (approximately 9 trillion won), marking a 10.2% increase compared to the first quarter of last year.

Korea Health Industry Development Institute

In particular, exports of pharmaceuticals and cosmetics stood out. Pharmaceutical exports in the first quarter reached $2.56 billion (about 3.5 trillion won), up 17.7% year-on-year, achieving the highest quarterly performance on record.

Exports of biopharmaceuticals, which accounted for 65% of total pharmaceutical exports, also rose by 30.2% compared to the same period last year. Exports to Germany and Hungary surged by 228.8% and 112.1%, respectively, contributing to a significant increase in exports to the European market. Vaccine exports also grew by 37.7% year-on-year, mainly to Brazil, South Sudan, and the Democratic Republic of the Congo.

For cosmetics, exports of basic skincare products recorded the highest quarterly performance ever, with total cosmetics exports reaching $2.58 billion (about 3.55 trillion won), a 12.7% increase compared to the same period last year.

However, exports of medical devices slowed to $1.39 billion (about 1.9 trillion won). Despite increases in exports of ultrasound diagnostic devices and medical laser equipment, a decline in implant exports led to a 5.0% decrease compared to the same period last year.

A representative from the Korea Health Industry Development Institute stated, "In the second quarter, solid demand for key items such as biopharmaceuticals and basic skincare products is expected to continue, sustaining the upward trend in health industry exports." The representative added, "However, it will be necessary to respond more flexibly to the increasingly uncertain external trade environment, including changes in U.S. tariff policies."