Malaysia: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Malaysia

The Malaysian composite laboratory reagents market surged to $X in 2022, with an increase of 31% against the previous year. Over the period under review, consumption, however, saw a pronounced descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Composite Laboratory Reagents Production in Malaysia

In value terms, composite laboratory reagents production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Composite Laboratory Reagents Exports

Exports from Malaysia

In 2022, after two years of growth, there was significant decline in shipments abroad of composite diagnostic or laboratory reagents, when their volume decreased by -36.5% to X tons. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 270% against the previous year. As a result, the exports attained the peak of X tons, and then shrank sharply in the following year.

In value terms, composite laboratory reagents exports declined dramatically to $X in 2022. Over the period under review, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 180% against the previous year. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

Myanmar (X tons) was the main destination for composite laboratory reagents exports from Malaysia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar stood at +307.6%.

In value terms, Myanmar ($X) emerged as the key foreign market for composite diagnostic or laboratory reagents exports from Malaysia.

From 2012 to 2022, the average annual growth rate of value to Myanmar stood at +186.1%.

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2022, picking up by 6.8% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The growth pace was the most rapid in 2014 an increase of 58%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to -11.4% per year.

Composite Laboratory Reagents Imports

Imports into Malaysia

In 2022, the amount of composite diagnostic or laboratory reagents imported into Malaysia shrank remarkably to X tons, dropping by -23.5% compared with the year before. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +79.6% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 88% against the previous year. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, composite laboratory reagents imports declined notably to $X in 2022. In general, imports, however, showed buoyant growth. The growth pace was the most rapid in 2021 when imports increased by 88% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of composite laboratory reagents to Malaysia, with a 71% share of total imports. Moreover, composite laboratory reagents imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fivefold. The third position in this ranking was held by the United States (X tons), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-4.7% per year) and the United States (-4.4% per year).

In value terms, China ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Malaysia, comprising 50% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by the United States, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +53.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+4.7% per year) and the United States (-0.7% per year).

Import Prices by Country

In 2022, the average composite laboratory reagents import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 46%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain 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 UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+26.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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