The size of the In-Vitro Diagnostics Market in the Middle East and Africa was estimated at USD 7.43 billion in 2022. This market will grow at a CAGR of 6.17% during the forecast period and reach USD 10.03 billion in 2027.
The rise in the number of people with cancer and diabetes is straightly leveling up the market's demand. Furthermore, in the Middle East and Africa, government authorities are taking initial steps to improve healthcare services with IVD products, enhancing the growth rate of this market. In addition, these devices are accurate and convenient to perform diagnostics tests which are propelling the demand of the in-vitro diagnostics market in the Middle East and Africa. Furthermore, the increasing scale of diagnostics centers and hospitals across the region is also leveling up the market's growth rate.
However, people in rural areas are less aware of these diagnostic procedures, declining the growth rate of the in-vitro diagnostics market in the Middle East and Africa. Lack of reimbursement schemes by the government in undeveloped countries is hindering the demand of the market. The major challenging factor for the market developers is strict government regulations in approving various IVD products. Frequent changes in the economic strategies may also negatively impact the market's growth rate in the Middle East and Africa. The dearth of skilled people in monitoring the systems effectively due to fewer training programs impedes the market demand.
This research report on the MEA IVD market has been segmented and sub-segmented into the following categories:
Regionally, the In-vitro diagnostics market is a prominent market with prospective growth that influences the revenue in the future. This region includes the UAE, Saudi Arabia, Israel, and South Africa. The growth in this region is considered due to the advanced technologies and innovations of IVD technologies. In addition, the common increase of diabetes in patients is one of the factors that lead the market growth. Also, the increase in the number of patients with cancer is one more factor that boosts up the market growth.
KEY MARKET PLAYERS:
A few of the companies playing a key role in the MEA IVD Market are Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostic, Beckman Coulter Inc., Biomérieux, Ortho Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Sysmex Corporation & Thermo Fisher Scientific, Inc.
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