Report : Middle East & Africa Clinical Reference Laboratory Market Forecast to 2031 - Regional Analysis - by Service Provider (Hospital-Based, Standalone, and Clinic-Based) and Application (Laboratory Medicine, Clinical Trials, and Others)
At 5.0% CAGR, Middle East & Africa Clinical Reference Laboratory Market is Projected to be Worth US$ 3,193.75 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa clinical reference laboratory market was valued at US$ 2,168.12 million in 2023 and is expected to reach US$ 3,193.75 million by 2031, registering a CAGR of 5.0% from 2023 to 2031. Rising prevalence of chronic and infectious diseases and use of artificial intelligence in clinical reference laboratories are among the critical factors attributed to drive the Middle East & Africa clinical reference laboratory market growth.
The increasing prevalence of chronic diseases and the emergence and outbreak of various infectious diseases have fueled the demand for novel treatment options and newer therapeutic categories and created the need for better treatment options in existing therapeutic categories. According to the WHO data released in September 2023, noncommunicable diseases (NCDs), including heart disease, cancer, stroke, diabetes, and chronic lung disease, kill 41 million people each year. Accurate diagnostics are critical for identifying disease biomarkers and detecting organisms, particularly in cancer and tuberculosis. Clinical reference laboratories play an important role in modern healthcare. The reference laboratories provide services for the quick diagnosis of infectious diseases that require specialized laboratory testing equipment and expertise, such as swine flu, hepatitis A and B. These laboratories also offer low-cost diagnostic testing for common chronic conditions such as cancer, diabetes, and cardiovascular disease. During the COVID-19 pandemic, it became evident that medical reference labs are critical for rapid testing, establishing novel techniques, generating and analyzing data, and serving as knowledge hubs. Reference labs are more than just high-volume testing facilities; they are the hubs of expertise and data. Thus, the rising prevalence of infectious and chronic diseases is driving the growth of the clinical reference laboratory market.
On the contrary, complications related to regulatory framework and adoption of continuous technological developments hamper the growth of Middle East & Africa clinical reference laboratory market.
Based on service provider, the Middle East & Africa clinical reference laboratory market is segmented into hospital-based, standalone, and clinic-based. The hospital-based segment held 60.5% market share in 2023, amassing US$ 1,311.08 million. It is projected to garner US$ 1,905.47 million by 2031 to register 4.9% CAGR during 2023-2031.
In terms of application, the Middle East & Africa clinical reference laboratory medicine market is categorized into laboratory medicine, clinical trials, and others. The laboratory medicine segment held 71.4% share of Middle East & Africa clinical reference laboratory market in 2023, amassing US$ 1,547.52 million. It is anticipated to garner US$ 2,233.32 million by 2031 to expand at 4.7% CAGR during 2023-2031.
By country, the Middle East & Africa clinical reference laboratory market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudia Arabia captured 40.1% share of Middle East & Africa clinical reference laboratory market in 2023. It was assessed at US$ 869.65 million in 2023 and is likely to hit US$ 1,261.94 million by 2031, registering a CAGR of 4.8% during 2023-2031.
Key players operating in the Middle East & Africa clinical reference laboratory market are UNILABS, Laboratory Corp of America Holdings, Quest Diagnostics Inc, and SYNLAB International GmbH, among others.
- In April 2024, Quest Diagnostics and Broad Clinical Labs, the world expert in whole genome sequencing (WGS), announced a research collaboration designed to demonstrate the clinical value of WGS as a first-line genetic test for postnatal diagnosis of developmental delay disorders.
- In April 2024, SYNLAB launched myEDIT-B is the first clinically validated test for the differential diagnosis between bipolar disorder and unipolar depression, signalling a paradigm shift in the identification of this mental health disorder and thus increasing the effectiveness of the treatment approach.
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