Bangladesh: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Bangladesh

The Bangladeshi composite laboratory reagents market shrank to $X in 2022, which is down by -10.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a strong increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Composite Laboratory Reagents Exports

Exports from Bangladesh

In 2015, overseas shipments of composite diagnostic or laboratory reagents decreased by 0% to X kg, falling for the second year in a row after two years of growth. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 3,348%. The exports peaked in 2015 and are expected to retain growth in the immediate term.

In value terms, composite laboratory reagents exports stood at $X in 2015. Overall, exports faced a dramatic decline. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2015, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X kg), the UK (X kg) and Thailand (X kg) were the main destinations of composite laboratory reagents exports from Bangladesh, together accounting for 67% of total exports.

From 2012 to 2015, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +572.1%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), the United States ($X) and Australia ($X) appeared to be the largest markets for composite laboratory reagents exported from Bangladesh worldwide, together accounting for 75% of total exports.

Canada, with a CAGR of +350.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2015, the average composite laboratory reagents export price amounted to $X per ton, remaining constant against the previous year. In general, the export price saw a dramatic setback. The pace of growth was the most pronounced in 2013 a decrease of -95.9% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2015, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2015, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2015, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+814.6%), while the prices for the other major destinations experienced a decline.

Composite Laboratory Reagents Imports

Imports into Bangladesh

In 2022, the amount of composite diagnostic or laboratory reagents imported into Bangladesh shrank to X tons, which is down by -11.9% compared with the previous year. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 50%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, composite laboratory reagents imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 97% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Singapore (X tons) and Germany (X tons) were the main suppliers of composite laboratory reagents imports to Bangladesh, with a combined 49% share of total imports. The United States, France, the Netherlands, India, Spain, the Czech Republic, Hong Kong SAR, the UK and Austria lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +36.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Singapore ($X) were the largest composite laboratory reagents suppliers to Bangladesh, together comprising 36% of total imports.

In terms of the main suppliers, China, with a CAGR of +39.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average composite laboratory reagents import price amounted to $X per ton, increasing by 32% against the previous year. Overall, the import price recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 an increase of 223% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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