Korean Biohealth Exports Reach Record $16.12 Billion in First Half of 2026

The Korean biohealth industry has achieved its highest export performance in history for the first half of 2026, propelled by robust sales of pharmaceuticals and cosmetics. According to the Korea Health Industry Development Institute, exports for the biohealth sector reached $16.12 billion, marking a 17.5% increase compared to the same period last year.

Among the sectors, cosmetics led the growth with exports worth $6.98 billion, representing a significant increase of 26.9%. Pharmaceuticals contributed $6.06 billion (+14.1%), while medical devices reached $3.08 billion (+5.9%). Notably, the medical device sector transitioned to a positive growth trend for the first half for the first time in four years, due to strong exports of general medical devices.

The off-the-charts performance in cosmetic exports can be attributed to the expanding popularity of K-Beauty in North America and Europe. In particular, foundational makeup products generated $5.47 billion, an impressive 33.1% year-on-year growth, accounting for 78.3% of total cosmetics exports. The United States recorded $1.1 billion (+49.6%), with the United Kingdom at $220 million (+174.0%) and the Netherlands at $160 million (+297.7%), showcasing rapid growth within the European market.

Regarding personal cleansing products, exports amounted to $330 million (+25.3%), reflecting the sector's first-half peak performance, with significant gains from the U.S. (+37.1%), Vietnam (+54.1%), and Japan (+59.5%).

Pharmaceuticals benefited from an increased demand for biopharmaceuticals, exporting $6.06 billion with a 14.1% growth against the previous year. Biopharmaceuticals accounted for 65.4% of total pharmaceutical exports, reaching $3.97 billion (+18.6%). The European market saw notable increases with Switzerland ($750 million, +63.0%), Hungary ($600 million, +16.3%), the Netherlands ($440 million, +76.0%), and Italy ($250 million, +146.8%). Additionally, exports of toxins and toxoids achieved $280 million (+46.9%), marking a record high for the first half, with expansion concentrated in the U.S., China, Brazil, and Vietnam.

Medical device exports recorded $3.08 billion, fueled by growth in ultrasound diagnostic equipment and electric medical devices, reversing a four-year downward trend for the first half. General medical device exports reached $2.73 billion, a 7.2% year-on-year increase, while in-vitro diagnostic device exports saw a slight decline, totaling $350 million (-3.8%). Specific items like ultrasound diagnostic equipment achieved $480 million (+10.3%), setting a new record, with key markets including the U.S. (+14.4%), China (+23.0%), Austria (+18.3%), and the UK (+93.4%). Electric medical devices also grew to $340 million (+14.5%), showing double-digit growth rates in the U.S., Japan, and Hong Kong.

Chae Young-im, Head of the Biohealth Innovation Planning Division at the Korea Health Industry Development Institute, commented on the sector's performance: "Exports in the first half of 2026 reached unprecedented levels for cosmetics and pharmaceuticals. As global demand is expected to continue for basic cosmetics and biopharmaceuticals in the second half, we anticipate persistent growth in exports. However, as major countries' policies and the global market environment are rapidly evolving, close monitoring of policy changes and proactive risk management will be crucial."