The export of composite diagnostic or laboratory reagents from Thailand has shown substantial growth over the past decade. From 2013 to 2023, the value increased from 4.0166 million USD to 21.53 million USD. The highest growth rates were observed in 2016 and 2017, with year-on-year increases of 77.71% and 73.46%, respectively. However, the growth rate has moderated over the last two years, standing at 4.91% in 2023. The last five years have shown an average annual growth rate (CAGR) of 2.92%.
Future trends to watch for include:
- An anticipated steady growth with an average annual growth rate (CAGR) of 3.13% from 2024 to 2028.
- Focus on the development of new and innovative products to sustain growth.
- Increased demand driven by advancements in healthcare and diagnostic technologies.
- Potential impacts from global trade policies and economic conditions.
