Australia: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Australia

In 2022, the Australian composite laboratory reagents market increased by X% to $X, rising for the third year in a row after three years of decline. Overall, consumption showed a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Composite Laboratory Reagents Production in Australia

In value terms, composite laboratory reagents production rose markedly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Composite laboratory reagents production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Composite Laboratory Reagents Exports

Exports from Australia

After three years of growth, overseas shipments of composite diagnostic or laboratory reagents decreased by X% to X tons in 2022. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, composite laboratory reagents exports soared to $X in 2022. In general, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

New Zealand (X tons) was the main destination for composite laboratory reagents exports from Australia, with a X% share of total exports. Moreover, composite laboratory reagents exports to New Zealand exceeded the volume sent to the second major destination, the United States (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

In value terms, New Zealand ($X) remains the key foreign market for composite diagnostic or laboratory reagents exports from Australia, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Canada ($X per ton) and Burkina Faso ($X per ton), while the average price for exports to Malaysia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (X%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Australia

For the fourth year in a row, Australia recorded growth in purchases abroad of composite diagnostic or laboratory reagents, which increased by X% to X tons in 2022. In general, imports saw a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, composite laboratory reagents imports skyrocketed to $X in 2022. Overall, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Australia, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

Import Prices by Country

The average composite laboratory reagents import price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per ton) and France ($X per ton), while the price for the UK ($X per ton) and Singapore ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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