South Africa: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in South Africa

In 2022, the South African composite laboratory reagents market increased by 30% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a slight descent. Composite laboratory reagents consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Composite Laboratory Reagents Production in South Africa

In value terms, composite laboratory reagents production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 23%. Composite laboratory reagents production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Composite Laboratory Reagents Exports

Exports from South Africa

In 2022, overseas shipments of composite diagnostic or laboratory reagents decreased by -53.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2020 when exports increased by 68% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, composite laboratory reagents exports contracted to $X in 2022. In general, exports, however, continue to indicate perceptible growth. The pace of growth was the most pronounced in 2020 when exports increased by 113% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mozambique (X tons), Botswana (X tons) and Namibia (X tons) were the main destinations of composite laboratory reagents exports from South Africa, together comprising 44% of total exports. Zimbabwe, Swaziland, Zambia, Lesotho, Malawi, Democratic Republic of the Congo, Angola, the United States, Germany and Kenya lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +37.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for composite laboratory reagents exported from South Africa were the United States ($X), Namibia ($X) and Botswana ($X), together comprising 39% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +57.3%, saw the highest rates of growth with regard to 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, rising by 89% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the average price for exports to Angola ($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 the United States (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into South Africa

Composite laboratory reagents imports into South Africa reduced sharply to X tons in 2022, declining by -16.3% on the previous year. Overall, imports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 13%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, composite laboratory reagents imports contracted rapidly to $X in 2022. Over the period under review, imports faced a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 50%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest composite laboratory reagents supplier to South Africa, accounting for a 30% share of total imports. Moreover, composite laboratory reagents imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to -23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.0% per year) and the United States (-21.5% per year).

In value terms, the largest composite laboratory reagents suppliers to South Africa were Germany ($X), the United States ($X) and Sweden ($X), together comprising 39% of total imports. The Netherlands, France, China, Belgium, Australia and Austria lagged somewhat behind, together comprising a further 14%.

China, with a CAGR of -10.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average composite laboratory reagents import price amounted to $X per ton, remaining constant against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, composite laboratory reagents import price increased by +33.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 34% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+50.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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