Hungary: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Hungary

The Hungarian composite laboratory reagents market surged to $X in 2022, jumping by 36% against the previous year. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -28.1% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Composite Laboratory Reagents Production in Hungary

In value terms, composite laboratory reagents production amounted to $X in 2022 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.4% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 28% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Composite Laboratory Reagents Exports

Exports from Hungary

In 2022, shipments abroad of composite diagnostic or laboratory reagents decreased by -9.6% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a pronounced 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, exports decreased by -3.4% against 2017 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 19%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, composite laboratory reagents exports reduced dramatically to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 125% against the previous year. As a result, the exports reached the peak of $X, and then shrank markedly in the following year.

Exports by Country

Germany (X tons) was the main destination for composite laboratory reagents exports from Hungary, with a 36% share of total exports. Moreover, composite laboratory reagents exports to Germany exceeded the volume sent to the second major destination, the United States (X tons), threefold. Moldova (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.6% per year) and Moldova (+39.4% per year).

In value terms, the largest markets for composite laboratory reagents exported from Hungary were Germany ($X), the United States ($X) and Italy ($X), with a combined 28% share of total exports. France, Moldova, the Czech Republic, Ukraine, India, Russia, Vietnam, Pakistan, Sudan and Egypt lagged somewhat behind, together comprising a further 17%.

In terms of the main countries of destination, Moldova, with a CAGR of +54.0%, recorded the highest rates of growth with regard to 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, falling by -15.4% against the previous year. Overall, the export price, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2021 an increase of 101%. As a result, the export price attained the peak level of $X per ton, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Egypt ($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 Italy (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Hungary

In 2022, the amount of composite diagnostic or laboratory reagents imported into Hungary dropped to X tons, which is down by -5.8% compared with the previous year's figure. Over the period under review, imports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 36%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, composite laboratory reagents imports fell to $X in 2022. In general, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 95% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of composite laboratory reagents to Hungary, with a 65% share of total imports. Moreover, composite laboratory reagents imports from Germany exceeded the figures recorded by the second-largest supplier, Romania (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+165.8% per year) and China (+38.0% per year).

In value terms, Germany ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Hungary, comprising 51% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 5.8% share of total imports. It was followed by China, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+10.4% per year) and China (+54.8% per year).

Import Prices by Country

In 2022, the average composite laboratory reagents import price amounted to $X per ton, leveling off at the previous year. In general, the import price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 48%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 the Netherlands ($X per ton), while the price for Romania ($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 (+28.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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