Middle-East & Africa In Vitro Diagnostics (IVD)
Market Overview:
The Middle-East and Africa
In-Vitro Diagnostics (IVD) market has been estimated at USD 2.7 Million in 2018
and it is expected to reach USD 3.59 Million by 2025, growing at a Compound
Annual Growth Rate (CAGR) of 4.20% over the forecast period 2018 -2025.
Drivers, Challenges
and Opportunities:
The growing geriatric population, which is prone to disease,
needs regular diagnostic tests. This is one of the main factors of growth in
the Middle East and Africa (MEA) market. In addition, technological
developments in terms of accuracy, portability and cost-effectiveness should
accelerate the demand for IVD devices. Also, the growing demand for point-of-care
devices (PoCs) is expected to stimulate market growth.
However, the shortage of experienced health professionals
and the lack of awareness among the population limit market growth. There are
also strict regulations on new and existing products and techniques that may
limit market growth to a certain extent.
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It is expected that the introduction of improved
technologies such as miniaturization of microfluidics, biochips and
nano-biotechnology will increase opportunities for this market. These
improvements have resulted in greater access to diagnostic tests at the point
of care and should result in quick and effective results. As in the last 50
years, IVD technologies are only used in clinical laboratories, which are now
spreading to domestic applications.
Immunology, hematology, clinical chemistry, molecular
diagnostics, coagulation, microbiology and others are the popular technologies
implemented in the IVD market. The areas of infectious disease, diabetes,
cancer, cardiology, nephrology, autoimmune disease, drug testing, etc., are
having a huge demand for this industry. IVD is having huge applications in the
sectors like hospitals, laboratories, home care and so on.
Geographic
Segmentation:
The Middle East and Africa is an emerging market with growth
potential that should dominate the revenue in the future. Geographically, the
in vitro diagnostics market in the Middle East and Africa is analyzed in
various regions, including the United Arab Emirates, Saudi Arabia, Israel and
South Africa. At the regional level, the Kingdom of Saudi Arabia is the most
dominant and is the largest revenue generator for the IVD market in the Middle
East.
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Some of the leading companies in the in vitro diagnostic market
include BioMérieux SA, F. Hoffmann-La Roche Ltd. Becton, Dickinson and Company;
Hologic, Inc. (Gen-Probe); Siemens Healthcare; Abbott; Allerdner; Sysmex
Corporation; Qiagen; Cepheid; and others.
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