Vietnam: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Vietnam

The Vietnamese composite laboratory reagents market dropped to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed buoyant growth. Over the period under review, the market reached the maximum level at $X in 2021, and then declined in the following year.

Composite Laboratory Reagents Exports

Exports from Vietnam

In 2022, composite laboratory reagents exports from Vietnam fell to X tons, waning by X% against the previous year's figure. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, composite laboratory reagents exports shrank slightly to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Exports by Country

Singapore (X tons) was the main destination for composite laboratory reagents exports from Vietnam, with a X% share of total exports. Moreover, composite laboratory reagents exports to Singapore exceeded the volume sent to the second major destination, South Korea (X tons), threefold. China (X tons) ranked third in terms of total exports with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and China (X% per year).

In value terms, Singapore ($X) emerged as the key foreign market for composite diagnostic or laboratory reagents exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and China (X% per year).

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

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 Thailand ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Vietnam

In 2022, imports of composite diagnostic or laboratory reagents into Vietnam fell sharply to X tons, which is down by X% on the previous year's figure. In general, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, composite laboratory reagents imports expanded to $X in 2022. Overall, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of composite laboratory reagents to Vietnam, accounting for a X% share of total imports. Moreover, composite laboratory reagents imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with an X% share.

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

In value terms, the largest composite laboratory reagents suppliers to Vietnam were South Korea ($X), China ($X) and Germany ($X), together accounting for X% of total imports.

Among the main suppliers, China, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average composite laboratory reagents import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :