U.S. In-Vitro Diagnostic Substances Market. Analysis And Forecast to 2025
In-vitro Diagnostic Substance Market - U.S. In-Vitro Diagnostic Substance Exports are Robust, with Germany as the Highest Demander
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The U.S. is the global leader in the trade of in-vitro diagnostic substances, accounting for a 23% share (based on USD) of the world's exports. It was followed by Germany (19%), the UK (8%), and the Netherlands (8%).
The U.S. exported 6,437 million USD in 2015, which was 2% above the previous year's value. Outside of the barely noticeable decline of 2009, U.S. exports on the in-vitro diagnostic substance market showed steady growth from 2007 to 2015. There was an average annual increase of +4.4% throughout the analysed period. As U.S. companies consistently improved their positions on overseas markets, domestic manufacturers enjoyed a new growth driver.
Germany (19%), and, distantly, Canada (9%), China (8%), and Japan (7%) were the main destinations of U.S. in-vitro diagnostic substance exports in 2015. The shares exported to Germany and Canada remained relatively stable from 2007 to 2015. Meanwhile, China's share increased by +6 percentage points, and the share sent to Japan illustrated negative dynamics (-5 percentage points).
From 2007 to 2015, the U.S. was a net exporter of in-vitro diagnostic substances. However, imports grew generally in line with exports on average over the period under review. Net U.S. exports of in-vitro diagnostic substances increased gradually over the period under review. In 2015, this industry ran a significant trade surplus of 2,958 million USD.
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Source: IndexBox AI Platform
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