Nigeria: Blood-Grouping Reagents Market 2024

Blood-Grouping Reagents Market Size in Nigeria

The Nigerien blood-grouping reagents market shrank sharply to $X in 2022, waning by -17.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate resilient growth. Blood-grouping reagents consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Blood-Grouping Reagents Exports

Exports from Nigeria

In 2022, the amount of blood-grouping reagents exported from Nigeria rose significantly to X kg, picking up by 12% against the previous year's figure. Overall, exports posted a strong increase. The growth pace was the most rapid in 2017 with an increase of 171%. As a result, the exports attained the peak of X kg. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, blood-grouping reagents exports expanded remarkably to $X in 2022. In general, exports posted a temperate increase. The growth pace was the most rapid in 2017 with an increase of 464% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Cameroon (X kg), Cote d'Ivoire (X kg) and Benin (X kg) were the main destinations of blood-grouping reagents exports from Nigeria, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of +40.0%), while the other leaders experienced mixed trend patterns.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for blood-grouping reagents exports from Nigeria, comprising 92% of total exports. The second position in the ranking was held by Cameroon ($X), with a 6.4% share of total exports. It was followed by Niger, with a 0.6% share.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire stood at +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (+2.3% per year) and Niger (-33.1% per year).

Export Prices by Country

In 2022, the average blood-grouping reagents export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 an increase of 108% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 Cote d'Ivoire ($X per ton), while the average price for exports to Cameroon ($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 Cote d'Ivoire (-12.5%), while the prices for the other major destinations experienced a decline.

Blood-Grouping Reagents Imports

Imports into Nigeria

In 2022, approx. X kg of blood-grouping reagents were imported into Nigeria; declining by -2.4% compared with 2021 figures. Over the period under review, imports, however, saw a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 175%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, blood-grouping reagents imports contracted sharply to $X in 2022. In general, imports, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 286% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X kg) constituted the largest blood-grouping reagents supplier to Nigeria, accounting for a 65% share of total imports. Moreover, blood-grouping reagents imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+14.3% per year) and India (+23.7% per year).

In value terms, China ($X), India ($X) and the United Arab Emirates ($X) appeared to be the largest blood-grouping reagents suppliers to Nigeria, together comprising 69% of total imports.

India, with a CAGR of +28.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average blood-grouping reagents import price amounted to $X per ton, with a decrease of -35.5% against the previous year. In general, the import price saw a perceptible decline. The most prominent rate of growth was recorded in 2016 an increase of 156% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($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 (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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