Western Africa: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Exports

Exports in Western Africa

In 2023, after two years of growth, there was significant decline in overseas shipments of composite diagnostic or laboratory reagents, when their volume decreased by X% to X tons. Over the period under review, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, composite laboratory reagents exports declined remarkably to $X in 2023. Overall, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Ghana was the largest exporter of composite diagnostic or laboratory reagents in Western Africa, with the volume of exports reaching X tons, which was near X% of total exports in 2023. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Burkina Faso (X%). The following exporters - Niger (X kg), Nigeria (X kg), Mali (X kg), Gambia (X kg) and Senegal (X kg) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to composite laboratory reagents exports from Ghana stood at X%. 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 Western Africa, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Burkina Faso (X p.p.) and Niger (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest composite laboratory reagents supplying countries in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), 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%, recorded the highest rates of growth with regard to 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 Western Africa stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2023, the export prices remained at a 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 Western Africa

In 2023, imports of composite diagnostic or laboratory reagents in Western Africa skyrocketed to X tons, picking up by X% compared with the previous year's figure. Overall, imports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; afterwards, it flattened through to 2023.

In value terms, composite laboratory reagents imports rose sharply to $X in 2023. In general, imports posted prominent growth. The pace of growth appeared the most rapid 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 somewhat lower figure.

Imports by Country

Nigeria represented the largest importer of composite diagnostic or laboratory reagents in Western Africa, with the volume of imports recording X tons, which was approx. X% of total imports in 2023. Ghana (X tons) took the second position in the ranking, distantly followed by Burkina Faso (X tons), Cote d'Ivoire (X tons), Benin (X tons) and Senegal (X tons). All these countries together held approx. X% share of total imports. Niger (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. 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 Western Africa, with a CAGR of X% from 2012-2023. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria and Benin increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest composite laboratory reagents importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Burkina Faso, Senegal, Benin and Niger lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Benin, with a CAGR of X%, saw 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

The import price in Western Africa stood at $X per ton in 2023, shrinking by X% against the previous year. Import price indicated noticeable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. 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 growth pace was the most rapid in 2020 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2021 to 2023, the import prices remained at a lower figure.

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