Cote d'Ivoire: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Cote d'Ivoire

The Cote d'Ivoire's composite laboratory reagents market stood at $X in 2022, rising by 3.3% 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). Over the period under review, consumption, however, saw a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Composite Laboratory Reagents Exports

Exports from Cote d'Ivoire

In 2022, after three years of decline, there was significant decline in overseas shipments of composite diagnostic or laboratory reagents, when their volume decreased by -50% to X kg. In general, exports showed a deep setback. The pace of growth was the most pronounced in 2018 when exports increased by 1,451%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, composite laboratory reagents exports shrank dramatically to $X in 2022. Over the period under review, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by 1,896% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X kg) was the main destination for composite laboratory reagents exports from Cote d'Ivoire, with a 46% share of total exports. Moreover, composite laboratory reagents exports to Ghana exceeded the volume sent to the second major destination, Burkina Faso (X kg), twofold. The third position in this ranking was taken by Guinea (X kg), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ghana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+26.1% per year) and Guinea (+26.8% per year).

In value terms, the largest markets for composite laboratory reagents exported from Cote d'Ivoire were Ghana ($X), Mali ($X) and Burkina Faso ($X), together accounting for 70% of total exports.

Burkina Faso, with a CAGR of +44.0%, recorded the highest growth rate of the value of exports, in terms of 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

The average composite laboratory reagents export price stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price recorded a buoyant expansion. The growth pace was the most rapid in 2019 an increase of 334% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 Niger ($X per ton), while the average price for exports to Cameroon ($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 Niger (+49.1%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Cote d'Ivoire

After two years of growth, supplies from abroad of composite diagnostic or laboratory reagents decreased by -12.6% to X tons in 2022. Overall, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 116% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, composite laboratory reagents imports soared to $X in 2022. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 86% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and India (X tons) were the main suppliers of composite laboratory reagents imports to Cote d'Ivoire, together comprising 65% of total imports. France, the Netherlands, the United Arab Emirates, South Korea, Hungary, Thailand, Japan and the United States lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +81.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composite laboratory reagents suppliers to Cote d'Ivoire were South Korea ($X), France ($X) and Germany ($X), together comprising 62% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +63.0%, saw the highest rates of growth with regard to 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

The average composite laboratory reagents import price stood at $X per ton in 2022, jumping by 32% against the previous year. In general, the import price continues to indicate mild growth. The pace of growth was the most pronounced in 2016 an increase of 80%. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, 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 South Korea ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform