Panama: Blood-Grouping Reagents Market 2024

Blood-Grouping Reagents Market Size in Panama

The Panamanian blood-grouping reagents market reduced remarkably to $X in 2022, which is down by -20% 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). Overall, consumption, however, enjoyed strong growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Blood-Grouping Reagents Exports

Exports from Panama

In 2022, after three years of decline, there was significant growth in shipments abroad of blood-grouping reagents, when their volume increased by 44% to X kg. Over the period under review, exports, however, recorded a dramatic descent. The most prominent rate of growth was recorded in 2014 with an increase of 500% against the previous year. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, blood-grouping reagents exports skyrocketed to $X in 2022. In general, exports, however, faced a sharp shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 842% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X kg) was the main destination for blood-grouping reagents exports from Panama, with a 82% share of total exports. It was followed by Guatemala (X kg), with a 2% share of total exports. Jamaica (X kg) ranked third in terms of total exports with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador totaled -17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-41.6% per year) and Jamaica (0.0% per year).

In value terms, the largest markets for blood-grouping reagents exported from Panama were Trinidad and Tobago ($X), Jamaica ($X) and Ecuador ($X), together accounting for 78% of total exports.

Trinidad and Tobago, with a CAGR of +3.6%, 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 a decline.

Export Prices by Country

The average blood-grouping reagents export price stood at $X per ton in 2022, with an increase of 12% against the previous year. In general, the export price continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 85%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

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 Trinidad and Tobago ($X per ton), while the average price for exports to El Salvador ($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 Trinidad and Tobago (+41.8%), while the prices for the other major destinations experienced mixed trend patterns.

Blood-Grouping Reagents Imports

Imports into Panama

Blood-grouping reagents imports into Panama shrank notably to X tons in 2022, which is down by -17.7% on the year before. Overall, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2017 when imports increased by 223% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, blood-grouping reagents imports contracted rapidly to $X in 2022. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 454% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Switzerland (X tons) and the United States (X kg) were the main suppliers of blood-grouping reagents imports to Panama, with a combined 75% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +44.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Switzerland ($X) and the United States ($X) were the largest blood-grouping reagents suppliers to Panama, with a combined 84% share of total imports. Spain, Singapore, China, Belgium, Italy, Sweden and Hong Kong SAR lagged somewhat behind, together accounting for a further 11%.

Among the main suppliers, Singapore, with a CAGR of +48.2%, saw the highest growth rate of 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 blood-grouping reagents import price stood at $X per ton in 2022, dropping by -5.1% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, blood-grouping reagents import price increased by +9.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 147% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+281.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform