As the pandemic’s impact continues to wane in South Korea, the general population is spending greater time outside of the home, including participating in more regular exercise, a scenario that is likely to continue to drive demand for topical analgesics/anaesthetic heading into the forecast period. Moreover, the sales of topical analgesic products such as Ketotop and Antiphlamine remain strong and are expected to increase over the forecast period.
Value sales of systemic analgesics (at constant 2022 prices) are expected to further decline over the forecast period, depending on the threat level of COVID-19 and any potential flare-ups in South Korea. Low cases will mean that the surge in demand for adult acetaminophen is unlikely to be repeated, and therefore, stock shortages are also unlikely as consumers retain current levels in their homes for emergencies.
Although the stockout situation for OTC acetaminophen products has subsided to some extent in the second half of 2022, pharmacies continue to experience trouble obtaining products under the Tylenol brand, despite an increase in imports from Australia. This is because the Ministry of Health and Welfare highlighted the use of the highly popular Tylenol to treat early symptoms of Omicron, influencing the surge in demand.
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Understand the latest market trends and future growth opportunities for the Analgesics industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Analgesics cover systemic and topical pain relievers. Products which include a pain-relief ingredient in addition to another core function are excluded (e.g. a sore throat remedy which includes paracetamol is excluded from the analgesics and instead is included in pharyngeal remedies).See All of Our Definitions
This report originates from Passport, our Analgesics research and analysis database.
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