The Middle East & Africa Blood Screening Market Size is valued at USD 0.26 billion in 2023 and is Expected to Reach USD 0.42 billion by 2028, growing at a CAGR of 9.60% during the forecast period.
The rising healthcare expenditure on diabetes, the rising incidence of diabetes and other chronic illnesses, and the burden of such diseases are key factors driving the MEA blood screening market. Also, with the increase in the diversity of diseases rising and a growing focus on developing improved treatment options for chronic and infectious diseases, the market blood screening market in the MEA is expected to grow at a healthy growth rate.
In addition, increasing government assistance in the sector is expected to increase the market growth positively. On the other hand, the blood screening market in emerging countries is being driven by a large population, improving healthcare infrastructure, rising disposable income, rising demand for donated blood.
Cancer and AIDS/HIV are two main illnesses that necessitate blood screening. In addition, growth in the technological developments, such as the introduction of smaller diagnostic equipment, has resulted in faster and more accurate test findings, which have greater market penetration in the area and favorable medical insurance policies, are boosting the product market of the blood screening as a blood test detects whether or not a patient is allergic to certain proteins found in insect venom, which can cause anaphylaxis and other allergic symptoms.
Furthermore, the increased awareness of the importance of keeping donated blood safe, increased prevalence of infectious diseases, and increased demand for donated blood influences market growth. Moreover, the major market key players as certain strategic efforts, such as a merger, new product launches, acquisitions, and collaborations, have been conducted by the firms to assist them in enhancing their position in the market, with increased healthcare awareness and an increase in the number of initiators, such as government policies.
However, the increase in the high costs of the technologies and the lack of proper reimbursement policies are expected to impede the market growth. Also, the stringent regulatory processes take lots of time in approving the product as it limits the market growth.
This research report on the MEA blood screening market has been segmented and sub-segmented into the following categories:
By End User:
The Middle East and Africa market is expected to see moderate growth in the global blood screening market during the forecast period due to the increase in chronic diseases.
In the MEA region, UAE and Saudi Arabia are estimated to grow at a healthy CAGR during the forecast period due to the rise in the initiatives taken by the government by promoting healthcare and other facilities like funding for the performing the research and developments practices.
The South African market is predicted to dominate the market in the Middle East and Africa region with the increase in healthcare facilities and the rise in the new advancements and developments in technology-enabled products. Also, due to the competition between the market players, they are involved in mergers, various strategies, and acquisitions to develop the product to maintain their position in the market.
KEY MARKET PLAYERS:
Becton, Dickinson and Company, Thermo Fisher Scientific Inc, Ortho Clinical Diagnostics, Danaher Corporation, Abbott Laboratories, Bio-Rad Laboratories, Inc, F. Hoffmann-La Roche Ltd, Grifols, Siemens AG, and Beckman Coulter, Inc. are some of the prominent companies operating in the MEA blood screening market.
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