Report : Middle East & Africa Genetic Testing Services Market Forecast to 2030 - Regional Analysis - by Service Type (Predictive Testing, Carrier Testing, Prenatal Testing, Newborn Screening, and Others), Disease (Cancer, Metabolic Diseases, Cardiovascular Diseases, and Other Diseases), and Service Provider (Hospital-Based Laboratories, Diagnostic Laboratories, and Others)
At 12.5% CAGR, Middle East & Africa Genetic Testing Services Market is Projected to be Worth US$ 200.38 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa genetic testing services market was valued at US$ 78.07 million in 2022 and is expected to reach US$ 200.38 million by 2030, registering a CAGR of 12.5% from 2022 to 2030. Artificial intelligence-powered genetic testing and rising prevalence of genetic diseases are among the critical factors attributed to drive the Middle East & Africa genetic testing services market growth.
Whole-genome sequencing and now whole-exome sequencing have also become more popular. To solve the growing problem of health data exhaust, the field of medicine is increasingly revolving around enhanced clinical tools, such as artificial intelligence (AI) and machine learning, which have been mentioned as a way to improve the acceptance of genomic medicine. Today, many companies have turned to machine learning to process the vast amount of data needed to correctly analyze and understand clinical data in fields such as radiology and cardiology. Many of the consumer-facing genetic testing technologies that are available in the market are using machine learning or AI to function. In numerous ways, genetic testing of diseases is the perfect field for machine learning because of the vast volumes of data that these programs need to struggle with. For example, working on the human genome includes reading billions of bits of information, and prior to the introduction of machine learning, many of these tasks were pretty tricky. AI offers great potential when it comes to analyzing genetic data and supporting clinical specialists in making diagnoses. Google has a program called Deep Variant that can now be used to plot the human genome thoroughly and can be used on the full range of a person's genetic information. Moreover, agencies such as the National Institutes of Health are working on ways through which machine learning and AI can add to a better understanding of genetics and genomics. Furthermore, Blueprint Genetics is using AI in clinical interpretation. Machine learning and AI are acting as a catalyst for faster and more diverse improvement in genetic research and engineering. These tools are simple to integrate and extremely scalable, putting genetic laboratories in a unique position to scale their operations and match the fast growth of the genetic testing field. Thus, through the successful integration of these tools, clinicians will be able to diagnose rare genetic diseases more efficiently and effectively, bringing hope to the millions of people affected by them globally.
On the contrary, social and ethical implications of genetic testing hamper the growth of Middle East & Africa genetic testing services market.
Based on service type, the Middle East & Africa genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held 43.2% market share in 2022, amassing US$ 33.73 million. It is projected to garner US$ 93.25 million by 2030 to register 13.6% CAGR during 2022-2030.
In terms of disease, the Middle East & Africa genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held 45.2% share of Middle East & Africa genetic testing services market in 2022, amassing US$ 35.31 million. It is anticipated to garner US$ 98.19 million by 2030 to expand at 13.6% CAGR during 2022-2030.
By service provider, the Middle East & Africa genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held 63.3% share of Middle East & Africa genetic testing services market in 2022, amassing US$ 49.42 million. It is projected to garner US$ 135.52 million by 2030 to expand at 13.4% CAGR from 2022 to 2030.
By country, the Middle East & Africa genetic testing services market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East and Africa. Our regional analysis states that South Africa captured 32.6% share of Middle East & Africa genetic testing services market in 2022. It was assessed at US$ 25.42 million in 2022 and is likely to hit US$ 64.92 million by 2030, registering a CAGR of 12.4% during 2022-2030.
Key players operating in the Middle East & Africa genetic testing services market are Eurofins Scientific SE, Laboratory Corp of America Holdings, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, and Centogene AG, among others.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com