The Middle East and Africa immunoassay market was worth USD 1.89 Billion in 2023 and is estimated to reach USD 2.99 billion by the end of 2028, growing at a CAGR of 9.6% between 2023 to 2028.
The growing burden of chronic illnesses and infectious diseases is a key contributor to the market's growth. In Addition, the increasing usage of point-of-care diagnostics across healthcare institutions and the rising frequency of chronic illnesses in the region are driving the expansion of the MEA immunoassay market. Further, with the rise in the development of new devices and technologies and the growth of the market for in-vitro diagnostics, the usage of point-of-care diagnostics is increasing.
Moreover, the immunochemistry instrument market is increasing in response to the increased need for biomarkers. As the accuracy and yield of the immunochemistry-based diagnostic tests have been improved. It is due to the recent technical improvements in assay systems and the increased use of biomarkers.
The stringent regulatory framework, a lack of appropriate reimbursements since these processes are too laborious and time-consuming, and strict rules that make product introduction difficult are the primary limitations limiting the immunoassay market's growth in the MEA region. On the other hand, the rise in the high costs of advanced treatments and devices can also affect the market growth of the MEA Immunoassay market.
This research report on the Middle East and Africa Immunoassay Market has been segmented & sub-segmented market into the following categories:
By End User:
The MEA immunoassay market is expected to witness a moderate share in the global market during the forecast period. The market growth is fuelled by the proliferation of chronic diseases such as cancer, diabetes, and other respiratory illnesses. Also, with the growing number of companies, producers have more rivalry due to their cheaper prices, small producers which constitute an unorganized market.
Over the projected period, the market in South Africa is predicted to develop at a healthy rate. Due to the rise in the burden of chronic illnesses and infectious diseases in South Africa, there is an increase in the usage of point-of-care diagnostics in the nation, and technical developments in the diagnostics industry contribute to this rise. In Addition, cardiovascular diseases (CVD) are South Africa's top cause of mortality, accounting for about one out of every six casualties. Therefore, due to the increased prevalence of chronic illnesses in the country, the demand is rising, leading to market expansion.
South Africa has set up domestic immunoassay reagent manufacturing initiatives to provide low-cost, high-quality reagents. As a result, these projects' kits are now accessible, which will undoubtedly drive the market. In Addition, with the growing cancer burden, demand for in-vitro diagnostics for early diagnosis is projected to rise and propel market growth.
Furthermore, the UAE and Saudi Arabia are projected to share a considerable share in the immunoassay market during the forecast period. In recent periods, these countries have witnessed technological advancements in the healthcare sector. Diagnostic tests are performed near the site of patient care are referred to as point-of-care technologies. The usage of POC diagnostics in Saudi Arabia is quickly rising due to its convenience of use and capacity to deliver fast results. The outcome of the care is prompt by allowing the patient to recuperate quickly. In Saudi Arabia, these technologies have a significant influence on diagnostic testing. In Addition, the key market players in the UAE are implementing market strategies to gain a competitive advantage over market players. QIAGEN, Abbott Laboratories, F Hoffmann-La Roche Ltd, and many more are among the key market participants in the UAE in the vitro diagnostics market.
KEY MARKET PLAYERS:
A few of the notable companies operating in the Middle East and Africa Immunoassay Market profiled in this report are Roche Diagnostics, DiaSorin S.p.A, Beckman Coulter, Siemens Healthcare, Ortho Clinical Diagnostics, bioMerieux, Thermo Fisher Scientific and Abbott Laboratories, Akers Biosciences, Inc, Becton Dickinson and Company, Devon Medical Products, EDP Biotech Corporation, Hologic (Gen-Probe), Intrinsic LifeSciences.
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