Germany’s Composite Laboratory Reagent Imports Surpass $3.8B, Peaking over the Last Decade
IndexBox has just published a new report: ‘Germany – Composite Diagnostic Or Laboratory Reagents – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
In 2020, Germany’s composite laboratory reagent imports peaked at $3.8B, steadily growing with an average annual rate of +3.8% over the past decade. The U.S., South Korea and the U.K. constitute the largest supplying countries in value terms. South Korea emerged as the fastest-growing supplier in 2020, ramping up the shipments to Germany by +56% y-o-y.
Composite Laboratory Reagent Imports into Germany
In 2020, composite laboratory reagent imports into Germany amounted to 41K tonnes, picking up by +4.8% compared with the previous year. In value terms, imports rose from $3.6B to $3.8B (IndexBox estimates). The total import value increased at an average annual rate of +3.8% over the last decade.
The U.S. ($1.9B) constituted the largest supplier of composite laboratory reagents to Germany, comprising 50% of total imports. The second position in the ranking was occupied by South Korea ($639M), with a 17% share of total imports. It was followed by the UK, with a 9.9% share.
Compared to other countries, South Korea and the U.S. recorded the highest spikes in composite laboratory reagent exports to Germany, increasing the supplies by 56% y-o-y and +51.6% y-o-y, respectively. In comparison, purchases from the UK increased by +10.7% y-o-y.
In physical terms, the U.S. (15K tonnes), the Netherlands (7.6K tonnes) and China (4.7K tonnes) were the leading suppliers of composite laboratory reagent imports to Germany, with a combined 66% share of total imports. These countries were followed by Japan, the UK, South Korea and Ireland, which together accounted for a further 24%.
The average composite laboratory reagent import price stood at $93,303 per tonne in 2020, stabilizing against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was South Korea ($280,230 per tonne), while the price for the Netherlands ($41,843 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by South Korea, while the prices for the other significant suppliers experienced more modest paces of growth.
Source: IndexBox Platform