The in-vitro diagnostics market in Middle East and Africa is expected to grow from US$ 2,675. 1 million in 2019 to US$ 3,454. 0 million by 2027; it is estimated to grow at a CAGR of 3. 2% from 2020 to 2027.
New York, May 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East & Africa In-Vitro Diagnostics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product and Services ; Technology ; Application ; End User" - https://www.reportlinker.com/p06075706/?utm_source=GNW
Aging population is vastly vulnerable to viral infections as well as chronic conditions. Diabetes in adults generates higher risk of functional limitations, loss of independence, frailty, and disability. Rising incidence of diabetes as well as increasing prevalence of cardiovascular diseases among adults offer lucrative opportunities for the growth of the Middle East and Africa in-vitro diagnostics market. According to a report of the United Nations (2017), the number of the elderly population is expected to grow significantly in Africa, followed by Middle East and Africa, Latin America & the Caribbean, and Asia Pacific. The elderly people are more prone to chronic conditions. Therefore, increasing adult population is generating demand for advanced diagnostic systems, which is projected to drive the market growth during the forecast period.
The Middle East and Africa in-vitro diagnostics market is segmented on the basis of product and services, technology, application, and end user.Based on product and services, the market is segmented into reagents and kits, instruments, and software and services.
In 2019, the instruments and kits segment accounted for the largest market share.The market for the instruments and kits segment is expected to grow during the forecast period owing to the increasing adoption of in-vitro diagnostics across the region.
Moreover, factors such as the increasing prevalence of chronic diseases coupled with growing awareness and availability of the product in considerable margins are projected to drive the market growth for the instruments and kits segment during the forecast period.
The countries in the Middle East and Africa have taken precautionary measures, such as lockdown, and imposed stringent regulations to control the spread of novel coronavirus that causes COVID-19.The majority of the countries in the region are dependent on the other region for medical devices and other products.
Therefore, there has been a shortage of various test kits in a few countries.However, various international organizations such as International Federation for Red Cross, Red Crescent, and the United Nations Volunteers (UNV) program have helped in a great way to provide IVD facilities in all possible ways.
Various European companies have been supporting by offering their rapid immunochemistry test.The import of rapid test kits has propelled growth opportunities for various companies to expand their business in the region.
Also, the growing developments in the healthcare industry in the Middle East and Africa are likely to foster growth in the coming years.
The overall Middle East and Africa in-vitro diagnostics market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Middle East and Africa in-vitro diagnostics market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Middle East and Africa in-vitro diagnostics market.F.
HOFFMANN-LA ROCHE LTD.; DANAHER; ABBOTT; SIEMENS AG; SYSMEX CORPORATION; THERMO FISHER SCIENTIFIC, INC.; BD; BIOMERIEUX SA; BIO-RAD LABORATORIES, INC.; and QIAGEN are among the players operating in the market.
Read the full report: https://www.reportlinker.com/p06075706/?utm_source=GNW
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