The size of the Point of Care (POC) Diagnostics/Testing Market in the Middle East & Africa was worth USD 1.99 billion in 2022 and estimated to reach USD 3.12 billion by the end of 2027 with a CAGR of 9.42%.
With the development of miniaturized devices and integration with wireless technology, healthcare professionals can maintain electronic medical records and provide personalized intervention for patients. This allows for better data collection with a lesser risk for discrepancies in the test results obtained. This is driving the MEA POC diagnostics market, increased healthcare spending, and a high prevalence of cancer, diabetes, and other diseases. According to the report published by a network of civil society organizations, it was reported that South Africa was experiencing an increase in noncommunicable diseases, such as heart disease, stroke, diabetes, and others. This increase in the condition in the African region will create high demand for diagnostics. According to the International Diabetes Federation, 17 million adults between the ages of 20 and 79 are expected to have diabetes in the IDF African region in 2018, representing a prevalence of 3.6% in the whole area.
The UAE and South Africa are the major MEA countries that are driving the market. Factors such as the availability of quality healthcare and high incidences of noncommunicable diseases are driving the market's growth. According to the World Cancer Registry, around 4,500 new cancer cases will be diagnosed in the UAE in 2020. Furthermore, according to the Atlas 2020 of the International Diabetes Federation, the prevalence of diabetes is estimated at 1.30 million in the United Arab Emirates. The disease has been observed frequently in the mid- older age groups. In addition, the advent of home cancer screening kits, which can actively monitor and analyze tumor cells, improved research and development to develop diagnostic applications, and increased healthcare awareness are anticipated to drive the MEA POC diagnostics market growth during the forecast period.
However, the key restraining factor affecting the market negatively is the lack of reimbursement policies for the POC diagnostic kits in the MEA region.
This research report on the MEA POC diagnostics market has been segmented and sub-segmented into the following categories.
The UAE is projected to dominate the MEA market during the forecast period, owing to government initiatives to control the prevalence of diabetes in the region to 17% by increasing awareness. In addition, advanced hospitals, especially in the major cities, will drive the healthcare sector in UAE to maintain its position as the major shareholder.
Saudi Arabia is forecasted to register the highest CAGR for point-of-care diagnostics in this region during the forecast period. This is because this region’s healthcare system has grown rapidly in recent years. This growth may be due to the growing wealth of the country and advanced quality of health care with good insurance options for their residents. In addition, among the significant MEA countries, Saudi Arabia has seen substantial growth in the diagnostics industry over the years. Hence, these factors will help the regional market.
In the African region, the South African market is expected to grow at a healthy CAGR of 5.5% during the forecast period. This can be attributed to increasing diseases such as HIV / AIDS, diabetes, malaria, etc. According to WHO reports, diabetes is expected to reach 24 million cases by 2030. Authorities estimate that the diabetic population could double over the next 20 years in the African region. Therefore, the increasing prevalence of the disease is expected to drive the growth of PC diagnostics in the area. But due to poor economies and lack of adequate healthcare facilities, the region will see slow growth during the forecast period. However, factors such as an increase in government aid to educate people with early diagnosis, the lifestyle change, and rise in funds for proper healthcare facilities added with free medical camps help overall development. It is estimated that these activities drive the demand for the point-of-care diagnostics market in Africa, thereby boosting the MEA point-of-service diagnostics market.
KEY MARKET PLAYERS:
Companies such as Abbott Laboratories, Inc., Danaher Corporation, Roche Diagnostics Limited, BioMerieux, Siemens Healthcare, Beckman Coulter, Inc., Becton, Dickinson and Company, Johnson & Johnson, Alere Inc., and PTS Diagnostics are playing a pivotal role in the MEA Point of Care (POC) Diagnostics/Testing Market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: email@example.com