Ecuador: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Ecuador

In 2022, the Ecuadorian composite laboratory reagents market decreased by -1.7% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption, however, continues to indicate a resilient increase. Composite laboratory reagents consumption peaked at $X in 2021, and then contracted in the following year.

Composite Laboratory Reagents Exports

Exports from Ecuador

After two years of decline, shipments abroad of composite diagnostic or laboratory reagents decreased by -50% to X tons in 2022. Overall, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 5,629%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, composite laboratory reagents exports contracted significantly to $X in 2022. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 647%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X kg) was the main destination for composite laboratory reagents exports from Ecuador, accounting for a 67% share of total exports. Moreover, composite laboratory reagents exports to Peru exceeded the volume sent to the second major destination, Guatemala (X kg), tenfold. The third position in this ranking was taken by Colombia (X kg), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+42.9% per year) and Colombia (-17.2% per year).

In value terms, Colombia ($X) remains the key foreign market for composite diagnostic or laboratory reagents exports from Ecuador, comprising 33% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 10% share of total exports. It was followed by Chile, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value to Colombia stood at +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+43.3% per year) and Chile (+14.7% per year).

Export Prices by Country

In 2022, the average composite laboratory reagents export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2013 an increase of 1,591% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Trinidad and Tobago ($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 the Dominican Republic (+103.2%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Ecuador

In 2022, after four years of growth, there was significant decline in purchases abroad of composite diagnostic or laboratory reagents, when their volume decreased by -16.2% to X tons. In general, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2021 when imports increased by 48%. As a result, imports attained the peak of X tons, and then shrank significantly in the following year.

In value terms, composite laboratory reagents imports rose remarkably to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 88%. 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), Brazil (X tons) and Germany (X tons) were the main suppliers of composite laboratory reagents imports to Ecuador, together comprising 63% of total imports. The United States, Hungary, South Korea, Spain, Japan and Austria lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +44.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composite laboratory reagents suppliers to Ecuador were the United States ($X), Germany ($X) and China ($X), with a combined 62% share of total imports.

In terms of the main suppliers, China, with a CAGR of +32.0%, recorded 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

The average composite laboratory reagents import price stood at $X per ton in 2022, picking up by 30% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, composite laboratory reagents import price decreased by -25.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 77% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average 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 Japan ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+42.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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