Singapore: Blood-Grouping Reagents Market 2024

Blood-Grouping Reagents Market Size in Singapore

The Singaporean blood-grouping reagents market shrank slightly to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption continues to indicate a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Blood-Grouping Reagents Production in Singapore

In value terms, blood-grouping reagents production declined modestly to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 44%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Blood-Grouping Reagents Exports

Exports from Singapore

In 2022, shipments abroad of blood-grouping reagents decreased by -14.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2020 when exports increased by 88% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, blood-grouping reagents exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2020 with an increase of 43%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), the Philippines (X tons) and Qatar (X tons) were the main destinations of blood-grouping reagents exports from Singapore, together comprising 65% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +34.6%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) emerged as the key foreign market for blood-grouping reagents exports from Singapore, comprising 57% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total exports. It was followed by the Philippines, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar totaled +47.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+4.0% per year) and the Philippines (+4.4% per year).

Export Prices by Country

In 2022, the average blood-grouping reagents export price amounted to $X per ton, increasing by 6.5% against the previous year. In general, the export price, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2019 an increase of 54% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Oman ($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 Saudi Arabia (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Blood-Grouping Reagents Imports

Imports into Singapore

In 2022, after four years of growth, there was significant decline in purchases abroad of blood-grouping reagents, when their volume decreased by -6.8% to X tons. In general, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2019 when imports increased by 54%. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, blood-grouping reagents imports reduced to $X in 2022. Overall, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 59%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Switzerland (X tons) constituted the largest supplier of blood-grouping reagents to Singapore, with a 64% share of total imports. Moreover, blood-grouping reagents imports from Switzerland exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Switzerland amounted to +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+58.8% per year) and the United States (-28.3% per year).

In value terms, Switzerland ($X) constituted the largest supplier of blood-grouping reagents to Singapore, comprising 67% of total imports. The second position in the ranking was held by China ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Switzerland amounted to +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+71.9% per year) and the United States (-26.9% per year).

Import Prices by Country

The average blood-grouping reagents import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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