Pakistan: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Pakistan

In 2022, the Pakistani composite laboratory reagents market decreased by -19.9% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, enjoyed a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank significantly in the following year.

Composite Laboratory Reagents Exports

Exports from Pakistan

After three years of growth, shipments abroad of composite diagnostic or laboratory reagents decreased by -15.2% to X tons in 2022. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 197% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined dramatically in the following year.

In value terms, composite laboratory reagents exports declined slightly to $X in 2022. In general, exports, however, recorded measured growth. The pace of growth appeared the most rapid in 2016 with an increase of 236%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for composite laboratory reagents exports from Pakistan, with a 87% share of total exports. Moreover, composite laboratory reagents exports to the Philippines exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. Afghanistan (X kg) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines totaled +48.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+78.3% per year) and Afghanistan (-6.2% per year).

In value terms, the Philippines ($X), Bahrain ($X) and Afghanistan ($X) appeared to be the largest markets for composite laboratory reagents exported from Pakistan worldwide, together comprising 18% of total exports. The United States, Hong Kong SAR, Brunei Darussalam and Ethiopia lagged somewhat behind, together comprising a further 5.9%.

The United States, with a CAGR of +22.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2022, with an increase of 13% against the previous year. Over the period under review, the export price, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2016 an increase of 247% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the Philippines ($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 Hong Kong SAR (+56.0%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Pakistan

In 2022, approx. X tons of composite diagnostic or laboratory reagents were imported into Pakistan; which is down by -21.7% on 2021 figures. In general, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 42% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, composite laboratory reagents imports fell dramatically to $X in 2022. Overall, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 91%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted markedly in the following year.

Imports by Country

China (X tons), Singapore (X tons) and South Korea (X tons) were the main suppliers of composite laboratory reagents imports to Pakistan, with a combined 63% share of total imports. Sweden, Taiwan (Chinese), Germany, Hungary, the United States, Italy, the UK and Japan lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +35.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and South Korea ($X) constituted the largest composite laboratory reagents suppliers to Pakistan, with a combined 51% share of total imports.

South Korea, with a CAGR of +40.3%, saw the highest growth rate of the value of imports, in terms of 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, increasing by 4.5% against the previous year. Overall, the import price enjoyed a strong increase. The pace of growth was the most pronounced in 2020 when the average import price increased by 143% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Hungary ($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 (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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