Ghana: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Ghana

In 2022, the Ghanian composite laboratory reagents market decreased by -1.9% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, continues to indicate a resilient increase. Over the period under review, the market attained the peak level at $X in 2021, and then shrank modestly in the following year.

Composite Laboratory Reagents Exports

Exports from Ghana

In 2022, overseas shipments of composite diagnostic or laboratory reagents decreased by -50.1% to X kg for the first time since 2019, thus ending a two-year declining trend. In general, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 717%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, composite laboratory reagents exports reduced dramatically to $X in 2022. Over the period under review, exports saw a significant decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 480%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Burkina Faso (X kg) was the main destination for composite laboratory reagents exports from Ghana, with a 74% share of total exports. Moreover, composite laboratory reagents exports to Burkina Faso exceeded the volume sent to the second major destination, Guinea (X kg), more than tenfold. Togo (X kg) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Burkina Faso totaled -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guinea (+3.7% per year) and Togo (+10.6% per year).

In value terms, Togo ($X), Mauritius ($X) and Niger ($X) constituted the largest markets for composite laboratory reagents exported from Ghana worldwide, with a combined 67% share of total exports. Burkina Faso, Sao Tome and Principe, South Africa, Guinea, Cote d'Ivoire and Switzerland lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, South Africa, with a CAGR of +10.8%, saw 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, flattening at the previous year. Overall, the export price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 246% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 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 Mauritius ($X per ton), while the average price for exports to Switzerland ($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 Mauritania (+936.1%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Ghana

In 2022, composite laboratory reagents imports into Ghana shrank to X tons, reducing by -14.1% on the year before. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +107.6% against 2018 indices. The pace of growth was the most pronounced in 2019 when imports increased by 76% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, composite laboratory reagents imports rose remarkably to $X in 2022. In general, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by 67%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat 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 Ghana, together accounting for 81% of total imports. The Netherlands, South Africa, the UK, France, the United States, Belgium and Australia lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +35.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and the UK ($X) appeared to be the largest composite laboratory reagents suppliers to Ghana, together comprising 34% of total imports.

India, with a CAGR of +52.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, rising by 31% against the previous year. Overall, the import price showed pronounced growth. The growth pace was the most rapid in 2020 an increase of 69% 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.

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 Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+49.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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