Lithuania: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Lithuania

The Lithuanian composite laboratory reagents market surged to $X in 2022, picking up by 20% against the previous year. Overall, consumption enjoyed a prominent increase. Composite laboratory reagents consumption peaked in 2022 and is likely to continue growth in years to come.

Composite Laboratory Reagents Production in Lithuania

In value terms, composite laboratory reagents production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 68% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Composite Laboratory Reagents Exports

Exports from Lithuania

After six years of growth, overseas shipments of composite diagnostic or laboratory reagents decreased by -11.1% to X tons in 2022. Overall, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 101%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, composite laboratory reagents exports dropped markedly to $X in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 171%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Belarus (X tons) was the main destination for composite laboratory reagents exports from Lithuania, accounting for a 34% share of total exports. Moreover, composite laboratory reagents exports to Belarus exceeded the volume sent to the second major destination, the United States (X tons), twofold. Ukraine (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belarus stood at +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+30.9% per year) and Ukraine (+32.8% per year).

In value terms, the United States ($X) remains the key foreign market for composite diagnostic or laboratory reagents exports from Lithuania, comprising 49% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total exports. It was followed by Singapore, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +41.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+96.5% per year) and Singapore (+72.1% per year).

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2022, shrinking by -25.1% against the previous year. Overall, the export price, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 119%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ukraine ($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 Russia (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Lithuania

In 2022, overseas purchases of composite diagnostic or laboratory reagents decreased by less than 0.1% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 64%. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced modestly in the following year.

In value terms, composite laboratory reagents imports fell to $X in 2022. In general, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 75%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped slightly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest composite laboratory reagents supplier to Lithuania, with a 61% share of total imports. Moreover, composite laboratory reagents imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+61.7% per year) and the Netherlands (+34.9% per year).

In value terms, the largest composite laboratory reagents suppliers to Lithuania were the United States ($X), Germany ($X) and the Netherlands ($X), together accounting for 58% of total imports. China, France, the Czech Republic and Italy lagged somewhat behind, together accounting for a further 9.9%.

China, with a CAGR of +51.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, almost unchanged from the previous year. Over the period under review, the import price enjoyed a notable increase. The growth pace was the most rapid in 2017 an increase of 60%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Italy ($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 (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform