Bulgaria: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Bulgaria

In 2022, after two years of growth, there was significant decline in the Bulgarian composite laboratory reagents market, when its value decreased by -18.2% to $X. Overall, consumption, however, posted strong growth. Over the period under review, the market reached the peak level at $X in 2021, and then contracted dramatically in the following year.

Composite Laboratory Reagents Exports

Exports from Bulgaria

After two years of decline, overseas shipments of composite diagnostic or laboratory reagents decreased by -8.3% to X tons in 2022. Overall, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2019 when exports increased by 78%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, composite laboratory reagents exports declined rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2018 when exports increased by 41%. The exports peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

France (X tons), Greece (X tons) and Romania (X tons) were the main destinations of composite laboratory reagents exports from Bulgaria, with a combined 41% share of total exports. Turkey, Iraq, Germany, North Macedonia, Armenia, Poland, Georgia, Serbia and Italy lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +87.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for composite laboratory reagents exported from Bulgaria were Greece ($X), Romania ($X) and France ($X), with a combined 40% share of total exports. Germany, Italy, Serbia, North Macedonia, Turkey, Poland, Georgia, Iraq and Armenia lagged somewhat behind, together accounting for a further 34%.

Georgia, with a CAGR of +68.2%, 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 2022, the average composite laboratory reagents export price amounted to $X per ton, shrinking by -18.2% against the previous year. Over the period under review, the export price, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2015 an increase of 43%. The export price peaked at $X per ton in 2021, and then declined significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Armenia ($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 Romania (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Bulgaria

After two years of growth, purchases abroad of composite diagnostic or laboratory reagents decreased by -16.7% to X tons in 2022. Overall, imports, however, posted a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 86% against the previous year. As a result, imports reached the peak of X tons, and then contracted notably in the following year.

In value terms, composite laboratory reagents imports fell sharply to $X in 2022. In general, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2020 when imports increased by 96% against the previous year. Imports peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

China (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of composite laboratory reagents imports to Bulgaria, with a combined 60% share of total imports. Turkey, Croatia, Sweden, Spain, Romania, Belgium, Italy, France and Austria lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +140.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composite laboratory reagents suppliers to Bulgaria were Germany ($X), the Netherlands ($X) and China ($X), with a combined 61% share of total imports. Turkey, France, Italy, Romania, Croatia, Spain, Belgium, Sweden and Austria lagged somewhat behind, together accounting for a further 30%.

Among the main suppliers, Croatia, with a CAGR of +84.4%, 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, approximately reflecting the previous year. Overall, the import price, however, showed a temperate increase. The most prominent rate of growth was recorded in 2020 an increase of 90% 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 lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Sweden ($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 (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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