MEA Precision Medicine Software Market

MEA Precision Medicine Software Market Size (2023 to 2028)

The size of the precision medicine software market in the Middle East and Africa is estimated to be growing at a healthy CAGR from 2023 to 2028.

The Middle East and Africa market is expected to experience lucrative growth as IoMT healthcare technologies have increased in recent years. Pharmaceutical and Biotech Companies Attempt to Improve Precision Medicine and Medical Solutions in the Region Diagnostic companies attempt to improve the healthcare industry by adopting various technologies. The adoption of technologies such as next-generation sequencing and gene therapy creates opportunities for the growth of the precision medicine market in the region.

The increase in the incidence of cancer globally implies that anticancer therapies will be sought for its prevention and treatment, which is why it will have most of the therapeutic segment. Furthermore, big data companies are expected to grow for precision medicine technologies in the MEA region due to technological advancements.

In countries of the Middle East and Africa, personal expenditure accounts for almost half of total health expenditure. Therefore, many people have health insurance coverage, especially in rural areas and in the informal sector. African countries have underdeveloped drug supply chains and often face challenges in maintaining an adequate medical workforce. One of the most pressing and unique challenges facing African health systems is the shortage of properly trained health workers due to a lack of training programs, coupled with poor working conditions. These factors may hamper research and development in the market.

Impact of COVID-19 on the MEA precision medicine software market:

With the health sector having a crisis due to pandemics, various solutions are tackling the pandemic. The healthcare industry is dedicated to precision medicine research to understand COVID-19 better and measure the impact caused by the virus to uncover potential therapies. Many MEA authorities have taken initiatives to increase the usage of precision coronavirus drugs. For example, in 2020, the San Antonio Partnership for Precision Therapeutics allocated three COVID-19 collaborative research projects. These projects will support a strong foundation for transformative COVID-19 research taking place across nations. The Cleveland Clinic has also introduced a genomic medicine experiment to find genetic factors that are susceptible to the virus and use them to develop preventive and treatment strategies against the virus.

The research report on the MEA precision medicine software market has been segmented and sub-segmented into the following categories.

By Delivery Mode:

• Web & Cloud-Based
• On-Premise

By Application:

• Oncology
• Pharmacogenomics
• Rare Diseases
• Other Applications

By End User:

• Healthcare Providers
• Research Centers and Academic Institutes
• Pharmaceutical and Biotechnology Companies
• Other End Users

By Country:

• KSA
• UAE
• Israel
• rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

In African countries, the increasing prevalence of diseases such as HIV, malaria, tuberculosis, etc., justifies the use of precision drugs, which is expected to drive the market. Another factor that can be attributed to their growth is the ability of the people of the Middle East to pay for precision medicine. The growing demand for personalized medicine coupled with the adoption of the technology in the region is driving the growth of the precision medicine market.

In Turkey, cancer is one of the leading causes of death, followed by cardiovascular disease. In addition, the incidence rate of cancer is increasing dramatically, increasing the need for an advanced health system. For example, GLAB formed a foundation for preventive medicine related to inherited breast and colon cancer, further integrating precision medicine into the healthcare system. In addition, growing collaborations between companies are expected to boost the implementation of precision medicine. Hence, these developments are intended to create multiple growth opportunities for the precision medicine market in Turkey.

Likewise, there is a high growth potential for precision medicine in South Africa due to the increasing prevalence of infections and non-communicable diseases. In addition, several initiatives are underway to improve the availability of research data, complementing the growth of the genomics industry. For example, the African Genome Center is under construction, increasing the country's capacity to sequence the human genome. These developments would help accelerate the diagnosis and treatment of various diseases, including cancer, thereby supporting the precision medicine market in South Africa.

KEY MARKET PLAYERS:

A few of the notable companies operating in the MEA precision medicine software market profiled in this report are SOPHiA GENETICS SA, Syapse, Inc., Foundation Medicine, Inc., 2bPrecise LLC, Fabric Genomics, Human Longevity, Inc., Translational Software, Inc., Gene42, Inc., IBM Watson Group, LifeOmic Health, LLC, Sunquest Information Systems Inc., Koninklijke Philips N.V., and Flatiron Health, Inc.