Romania: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Romania

After three years of growth, the Romanian composite laboratory reagents market decreased by -29.6% to $X in 2022. Overall, consumption, however, saw a measured expansion. Composite laboratory reagents consumption peaked at $X in 2021, and then dropped notably in the following year.

Composite Laboratory Reagents Production in Romania

In value terms, composite laboratory reagents production stood at $X in 2022 estimated in export price. Over the period under review, production saw a mild decrease. The growth pace was the most rapid in 2013 with an increase of 21%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Composite Laboratory Reagents Exports

Exports from Romania

For the third consecutive year, Romania recorded growth in shipments abroad of composite diagnostic or laboratory reagents, which increased by 50% to X tons in 2022. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 491%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, composite laboratory reagents exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of 114%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Hungary (X tons) was the main destination for composite laboratory reagents exports from Romania, with a 54% share of total exports. Moreover, composite laboratory reagents exports to Hungary exceeded the volume sent to the second major destination, Germany (X tons), sevenfold. Greece (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary totaled +201.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+197.0% per year) and Greece (+91.3% per year).

In value terms, Hungary ($X) remains the key foreign market for composite diagnostic or laboratory reagents exports from Romania, comprising 28% of total exports. The second position in the ranking was held by Moldova ($X), with a 12% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hungary totaled +142.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+15.9% per year) and Germany (+212.5% per year).

Export Prices by Country

In 2022, the average composite laboratory reagents export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when the average export price increased by 77% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Moldova ($X per ton), while the average price for exports to Hungary ($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 Spain (+3.3%), while the prices for the other major destinations experienced a decline.

Composite Laboratory Reagents Imports

Imports into Romania

After three years of growth, overseas purchases of composite diagnostic or laboratory reagents decreased by -12.6% to X tons in 2022. In general, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.8% against 2013 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 20% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, composite laboratory reagents imports declined to $X in 2022. Over the period under review, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 104%. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

China (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of composite laboratory reagents imports to Romania, together comprising 68% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +47.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and France ($X) appeared to be the largest composite laboratory reagents suppliers to Romania, with a combined 69% share of total imports.

China, with a CAGR of +61.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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, approximately mirroring the previous year. Overall, the import price showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of 100% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Spain ($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 (+28.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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