Singapore: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Singapore

In 2022, the Singaporean composite laboratory reagents market was finally on the rise to reach $X after two years of decline. In general, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Composite Laboratory Reagents Production in Singapore

In value terms, composite laboratory reagents production rose to $X in 2022 estimated in export price. In general, production continues to indicate resilient growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Composite Laboratory Reagents Exports

Exports from Singapore

In 2022, after three years of growth, there was significant decline in shipments abroad of composite diagnostic or laboratory reagents, when their volume decreased by X% to X tons. Over the period under review, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, composite laboratory reagents exports soared to $X in 2022. Overall, exports, however, continue to indicate a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons), Thailand (X tons) and Malaysia (X tons) were the main destinations of composite laboratory reagents exports from Singapore, with a combined X% share of total exports. Vietnam, the United States, the Philippines, India, Australia, Bangladesh, Pakistan, China and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for composite laboratory reagents exported from Singapore were the United States ($X), China ($X) and the Netherlands ($X), with a combined X% share of total exports. Australia, India, Indonesia, Vietnam, Malaysia, Thailand, the Philippines, Bangladesh and Pakistan lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Bangladesh, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average composite laboratory reagents export price amounted to $X per ton, growing by X% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Singapore

In 2022, supplies from abroad of composite diagnostic or laboratory reagents decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, recorded temperate growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced markedly in the following year.

In value terms, composite laboratory reagents imports reduced dramatically to $X in 2022. In general, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of composite laboratory reagents imports to Singapore, together comprising X% of total imports. Germany, Indonesia, Lithuania, the Netherlands, Vietnam, Taiwan (Chinese), the UK, Malaysia and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Singapore, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Lithuania (X% per year).

Import Prices by Country

In 2022, the average composite laboratory reagents import price amounted to $X per ton, flattening at the previous year. In general, the import price showed a modest expansion. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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