Ireland: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Ireland

In 2022, the Irish composite laboratory reagents market increased by 415% to $X, rising for the third year in a row after two years of decline. In general, consumption recorded a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Composite Laboratory Reagents Production in Ireland

In value terms, composite laboratory reagents production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 19% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Composite Laboratory Reagents Exports

Exports from Ireland

Composite laboratory reagents exports from Ireland declined to X tons in 2022, with a decrease of -12.9% compared with the previous year's figure. In general, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.6% against 2012 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 19%. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, composite laboratory reagents exports soared to $X in 2022. Overall, exports, however, saw perceptible growth. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for composite laboratory reagents exports from Ireland, with a 62% 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), fourfold. The third position in this ranking was held by China (X tons), with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.0% per year) and China (+53.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for composite diagnostic or laboratory reagents exports from Ireland, comprising 59% of total exports. The second position in the ranking was taken by the United States ($X), with a 5.8% share of total exports. It was followed by France, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.2% per year) and France (-13.3% per year).

Export Prices by Country

In 2022, the average composite laboratory reagents export price amounted to $X per ton, increasing by 65% against the previous year. In general, the export price, however, continues to indicate a mild downturn. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China ($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 UK (+6.3%), while the prices for the other major destinations experienced a decline.

Composite Laboratory Reagents Imports

Imports into Ireland

In 2022, approx. X tons of composite diagnostic or laboratory reagents were imported into Ireland; with an increase of 137% compared with 2021 figures. In general, imports posted a strong 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 soared to $X in 2022. Overall, imports enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), the UK (X tons) and the Netherlands (X tons) were the main suppliers of composite laboratory reagents imports to Ireland, with a combined 57% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +29.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composite laboratory reagents suppliers to Ireland were the United States ($X), the Netherlands ($X) and Germany ($X), with a combined 64% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +43.7%, saw 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

In 2022, the average composite laboratory reagents import price amounted to $X per ton, stabilizing at the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.8% 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 increased by +12.0% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 70%. As a result, import price reached the peak level of $X per ton. From 2018 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 the United States ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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