Oman: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Oman

The Omani composite laboratory reagents market was estimated at $X in 2022, flattening at 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). Over the period under review, consumption, however, continues to indicate prominent growth. Composite laboratory reagents consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Composite Laboratory Reagents Exports

Exports from Oman

In 2018, shipments abroad of composite diagnostic or laboratory reagents decreased by -66.5% to X tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a dramatic contraction. The growth pace was the most rapid in 2013 when exports increased by 1,158% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2018, the growth of the exports failed to regain momentum.

In value terms, composite laboratory reagents exports skyrocketed to $X in 2018. In general, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2013 when exports increased by 691%. As a result, the exports reached the peak of $X. From 2014 to 2018, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X kg) was the main destination for composite laboratory reagents exports from Oman, accounting for a 60% share of total exports. Moreover, composite laboratory reagents exports to Qatar exceeded the volume sent to the second major destination, Iran (X kg), threefold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2018, the average annual growth rate of volume to Qatar totaled -21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (0.0% per year) and the United Arab Emirates (+31.1% per year).

In value terms, Qatar ($X) remains the key foreign market for composite diagnostic or laboratory reagents exports from Oman, comprising 66% of total exports. The second position in the ranking was taken by Iran ($X), with an 18% share of total exports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2018, the average annual growth rate of value to Qatar amounted to +38.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (0.0% per year) and the United Arab Emirates (+6.1% per year).

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2018, picking up by 380% against the previous year. In general, the export price continues to indicate a significant increase. The pace of growth was the most pronounced in 2014 an increase of 4,732%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2018, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2018, amid the top suppliers, the countries with the highest prices were Qatar ($X per ton) and South Korea ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+4,377.8%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Oman

In 2022, composite laboratory reagents imports into Oman shrank to X tons, which is down by -12.9% compared with 2021 figures. Overall, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2019 when imports increased by 56%. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, composite laboratory reagents imports rose markedly to $X in 2022. In general, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 83%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of composite laboratory reagents imports to Oman, together comprising 47% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +61.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest composite laboratory reagents suppliers to Oman were Germany ($X), the Netherlands ($X) and China ($X), with a combined 34% share of total imports. France, India, Turkey, the Czech Republic and Austria lagged somewhat behind, together accounting for a further 6.4%.

In terms of the main suppliers, Turkey, with a CAGR of +51.6%, recorded the highest rates of growth with regard to 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

The average composite laboratory reagents import price stood at $X per ton in 2022, increasing by 32% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 decreased by -24.4% against 2020 indices. The growth pace was the most rapid in 2020 when the average import price increased by 107% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 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 Netherlands ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+26.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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