The export of composite diagnostic or laboratory reagents from South Africa experienced moderate growth, standing at $73.829 million in 2023, reflecting a 1.89% year-on-year growth. The last two years showed consistent growth, with a year-on-year growth of 1.96% in 2022 and 1.89% in 2023. Over the past five years, the compound annual growth rate (CAGR) averaged 3%. From 2024 onwards, this sector is projected to grow at an average rate of 1.32% CAGR until 2028, with an overall forecasted five-year growth rate of 6.78%.
Future trends to watch for include advancements in diagnostic technologies, shifts in global demand for laboratory reagents, and potential regulatory changes in major export markets. Enhanced automation and AI applications in diagnostics might further influence export dynamics.
