Myanmar: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Myanmar

For the eleventh year in a row, the Myanmar's composite laboratory reagents market recorded growth in sales value, which increased by 16% to $X in 2022. Overall, consumption saw prominent growth. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Composite Laboratory Reagents Exports

Exports from Myanmar

In 2021, the amount of composite diagnostic or laboratory reagents exported from Myanmar amounted to X kg, almost unchanged from the previous year's figure. Over the period under review, exports recorded a dramatic curtailment. The smallest decline of -99.9% was in 2019. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, composite laboratory reagents exports skyrocketed to $X in 2021. In general, exports showed a precipitous decline. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The Philippines (X kg) was the main destination for composite laboratory reagents exports from Myanmar, with a 71% share of total exports. Moreover, composite laboratory reagents exports to the Philippines exceeded the volume sent to the second major destination, Thailand (X kg), threefold.

From 2018 to 2021, the average annual growth rate of volume to the Philippines was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-95.6% per year) and Singapore (0.0% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for composite diagnostic or laboratory reagents exports from Myanmar, comprising 75% of total exports. The second position in the ranking was held by Thailand ($X), with a 25% share of total exports.

From 2018 to 2021, the average annual rate of growth in terms of value to the Philippines was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-96.4% per year) and Singapore (0.0% per year).

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2021, almost unchanged from the previous year. In general, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 a decrease of -48.1% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2018 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+49.5%).

Composite Laboratory Reagents Imports

Imports into Myanmar

In 2022, composite laboratory reagents imports into Myanmar surged to X tons, with an increase of 16% compared with 2021 figures. Overall, imports saw strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 39% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, composite laboratory reagents imports soared to $X in 2022. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 88%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest composite laboratory reagents supplier to Myanmar, accounting for a 48% share of total imports. Moreover, composite laboratory reagents imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+11.1% per year) and Germany (+18.0% per year).

In value terms, China ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Myanmar, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.2% share of total imports. It was followed by the Netherlands, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +54.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+28.6% per year) and the Netherlands (+59.6% per year).

Import Prices by Country

The average composite laboratory reagents import price stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price showed a resilient increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 125% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+22.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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