Hong Kong SAR, China: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Hong Kong SAR, China

The Hong Kong composite laboratory reagents market surged to $X in 2022, growing by 256% against the previous year. In general, consumption enjoyed a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Composite Laboratory Reagents Production in Hong Kong SAR, China

In value terms, composite laboratory reagents production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a remarkable increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 321%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Composite Laboratory Reagents Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of composite diagnostic or laboratory reagents decreased by -26.5% to X tons, falling for the second consecutive year after four years of growth. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 113% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, composite laboratory reagents exports declined notably to $X in 2022. Over the period under review, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 304%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for composite laboratory reagents exports from Hong Kong SAR, accounting for a 46% share of total exports. Moreover, composite laboratory reagents exports to the United States exceeded the volume sent to the second major destination, India (X tons), sixfold. The Philippines (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +85.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+15.7% per year) and the Philippines (+21.9% per year).

In value terms, the United States ($X) remains the key foreign market for composite diagnostic or laboratory reagents exports from Hong Kong SAR, comprising 64% of total exports. The second position in the ranking was held by India ($X), with an 8.7% share of total exports. It was followed by Georgia, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +93.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+15.2% per year) and Georgia (+41.9% per year).

Export Prices by Country

In 2022, the average composite laboratory reagents export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price saw a strong increase. The growth pace was the most rapid in 2020 when the average export price increased by 215% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 Georgia ($X per ton), while the average price for exports to the Philippines ($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 Georgia (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of composite diagnostic or laboratory reagents increased by 766% to X tons, rising for the fifth year in a row after two years of decline. In general, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, composite laboratory reagents imports surged to $X in 2022. Overall, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of composite laboratory reagents to Hong Kong SAR, accounting for a 86% share of total imports. It was followed by the United States (X tons), with a 2.6% share of total imports. The third position in this ranking was taken by Germany (X tons), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +43.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.2% per year) and Germany (+8.6% per year).

In value terms, China ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Hong Kong SAR, comprising 69% of total imports. The second position in the ranking was held by the United States ($X), with an 8% share of total imports. It was followed by Germany, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +64.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.6% per year) and Germany (+13.4% per year).

Import Prices by Country

In 2022, the average composite laboratory reagents import price amounted to $X per ton, dropping by -75% against the previous year. In general, the import price showed a slight curtailment. The growth pace was the most rapid in 2016 an increase of 110% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Japan ($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 (+39.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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