Russian Federation: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in the Russian Federation

In 2022, the Russian composite laboratory reagents market decreased by -40.7% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption, however, showed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Composite Laboratory Reagents Production in the Russian Federation

In value terms, composite laboratory reagents production amounted to $X in 2022 estimated in export price. Overall, production enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 252% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Composite Laboratory Reagents Exports

Exports from the Russian Federation

In 2022, after three years of decline, there was significant decline in shipments abroad of composite diagnostic or laboratory reagents, when their volume decreased by -50% to X tons. Over the period under review, exports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 121%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted rapidly in the following year.

In value terms, composite laboratory reagents exports shrank significantly to $X in 2022. In general, exports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 32%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Kazakhstan (X tons) was the main destination for composite laboratory reagents exports from Russia, accounting for a 57% share of total exports. Moreover, composite laboratory reagents exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X tons), fivefold. The third position in this ranking was held by Ukraine (X tons), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-10.8% per year) and Ukraine (-1.0% per year).

In value terms, Kazakhstan ($X), Ukraine ($X) and Belarus ($X) appeared to be the largest markets for composite laboratory reagents exported from Russia worldwide, with a combined 44% share of total exports. Uzbekistan, Italy, Latvia and Kyrgyzstan lagged somewhat behind, together accounting for a further 21%.

Among the main countries of destination, Latvia, with a CAGR of +43.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average composite laboratory reagents export price amounted to $X per ton, leveling off at the previous year. Overall, the export price, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of 88% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 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 Italy ($X per ton), while the average price for exports to Kazakhstan ($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 Uzbekistan (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into the Russian Federation

In 2022, imports of composite diagnostic or laboratory reagents into Russia declined significantly to X tons, waning by -94.7% against the year before. Overall, imports saw a dramatic descent. The pace of growth was the most pronounced in 2019 when imports increased by 30%. Imports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, composite laboratory reagents imports reduced dramatically to $X in 2022. Over the period under review, imports showed a significant contraction. The growth pace was the most rapid in 2020 with an increase of 47% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and Hong Kong SAR (X tons) were the main suppliers of composite laboratory reagents imports to Russia, together comprising 52% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +14.3%), while imports for the other leaders experienced a decline.

In value terms, Germany ($X), the Netherlands ($X) and China ($X) were the largest composite laboratory reagents suppliers to Russia, together comprising 36% of total imports. Hong Kong SAR, Italy, France, the Czech Republic, Hungary and Sweden lagged somewhat behind, together accounting for a further 7.8%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +7.7%, 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 a decline.

Import Prices by Country

The average composite laboratory reagents import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2020 an increase of 59% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+34.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :