ECOWAS: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Exports

Exports in ECOWAS

In 2023, after two years of growth, there was significant decline in shipments abroad of composite diagnostic or laboratory reagents, when their volume decreased by X% to X tons. In general, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of X tons, and then contracted notably in the following year.

In value terms, composite laboratory reagents exports contracted notably to $X in 2023. Over the period under review, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Ghana (X tons) represented the largest exporter of composite diagnostic or laboratory reagents, constituting X% of total exports. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (X%). Niger (X kg), Nigeria (X kg), Mali (X kg), Gambia (X kg) and Senegal (X kg) held a little share of total exports.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Burkina Faso (X%), Niger (X%), Mali (X%), Gambia (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Burkina Faso (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire, Senegal and Nigeria saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Gambia, Burkina Faso, Ghana, Niger and Mali lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Burkina Faso, with a CAGR of X%, saw the highest growth rate of 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

The export price in ECOWAS stood at $X per ton in 2023, increasing by X% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the export price figures.

Composite Laboratory Reagents Imports

Imports in ECOWAS

In 2023, imports of composite diagnostic or laboratory reagents in ECOWAS skyrocketed to X tons, jumping by X% against 2022. Over the period under review, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021; afterwards, it flattened through to 2023.

In value terms, composite laboratory reagents imports stood at $X in 2023. In general, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Nigeria (X tons) represented the largest importer of composite diagnostic or laboratory reagents, achieving X% of total imports. Ghana (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Cote d'Ivoire (X%), Benin (X%) and Senegal (X%). Niger (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to composite laboratory reagents imports into Nigeria stood at X%. At the same time, Benin (X%), Niger (X%), Senegal (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Burkina Faso saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. Burkina Faso, Senegal, Benin and Niger lagged somewhat behind, together accounting for a further X%.

Benin, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Import price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, composite laboratory reagents import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2021 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform