Key Market Indicators
Iceland's import of diagnostic reagents is projected to climb to approximately $55 million by 2028, up from around $48 million in 2023. This represents an annual growth rate of 2.3% in compound annual growth rate (CAGR). Historically, the country's demand for these medical supplies has been rising steadily, with a year-on-year growth of 3.7% since 1993. Conversely, Iceland's export of diagnostic reagents has seen a decline. In 2018, exports stood at roughly $176,000, down from about $189,000 in 2017, reflecting a 6.9% decrease from the previous year. Over the longer term, since 1997, the country's supply in this sector has plummeted by nearly 40% year on year.
