Middle East and Africa Medical and Lab Refrigerator Market
No. of Pages: 98 | Report Code: TIPRE00016287 | Category: Life Sciences
No. of Pages: 98 | Report Code: TIPRE00016287 | Category: Life Sciences
This research report provides insights into the Middle East & Africa Medical and Lab Refrigerator market. Medical refrigerators are designed to meet the temperature requirements for safe drug storage. Medical refrigerators are used to store vaccines, pharmaceuticals, chemotherapeutics, blood, plasma, and other samples that require tight temperature control. These are more reliable products for the storage of medicinal products as they emit less heat and less sound into the room.
Strategic insights for the Middle East and Africa Medical and Lab Refrigerator provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 280.52 Million |
| Market Size by 2027 | US$ 390.17 Million |
| Global CAGR (2020 - 2027) | 4.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Medical and Lab Refrigerator refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Middle East & Africa Medical and Lab Refrigerator is expected to reach US$ 390.17 million in 2027 from US$ 280.52 million in 2019; it is estimated to grow at a CAGR of 4.2% from 2020 to 2027. The Middle East & Africa region is witnessing significant growth in its healthcare sector. Factors including urbanization, aging population, and increasing incidences of chronic diseases have resulted in influencing the growth of the market.
Several hospital projects in the MENA region are under-construction. For instance, Thumbay Hospital Dubai Expansion, Dubai; Long Term Care Facility Health Project, Al Mamzar; Danat Al Emarat Hospital for Women and Children – Phase 2, Abu Dhabi; King Khalid Medical City, Dammam; King Faisal Medical City, Asir; and Children’s Cancer Hospital Egypt 57357 Extension, Cairo; among others.
Moreover, medical tourism in the GCC is rapidly transforming. Governments are encouraging the role of the private sector and have mandated insurance coverage. Recently, Abu Dhabi’s Department of Culture and Tourism signed an agreement with the Medical Tourism Association (MTA) to promote it as a tourism destination in markets such as China, Russia, and the GCC. Also, the Dubai government has taken several initiatives to boost its medical tourism sector.
Also, the pharmaceutical sector in MENA has noticed high growth over the past few years. In terms of manufacturing, Saudi Arabia leads the GCC region, with ~20 pharmaceutical manufacturers operating in the country. Moreover, owing to the presence of better logistics infrastructure, the UAE is transforming into a hub for the pharmaceutical supply chain.
In terms of product type, the blood bank refrigerator segment held the largest share of the market in 2019; and also is anticipated to register the highest CAGR in the market during the forecast period. The increasing number of road accidents worldwide is one of the significant factors propelling the demand for blood from blood banks and thus increasing the market for blood bank refrigerators. In terms of end use, the pharmaceuticals companies segment held a larger share of the market in 2019 and also is estimated to register a higher market share in the market during the forecast period
The World Health Organization (WHO), Food and Drug Administration (FDA), are some of the major primary and secondary sources for the Middle East & Africa Medical and Lab Refrigerator market included in the report.
The List of Companies - Middle East and Africa Medical and Lab Refrigerator Market
The Middle East and Africa Medical and Lab Refrigerator Market is valued at US$ 280.52 Million in 2019, it is projected to reach US$ 390.17 Million by 2027.
As per our report Middle East and Africa Medical and Lab Refrigerator Market, the market size is valued at US$ 280.52 Million in 2019, projecting it to reach US$ 390.17 Million by 2027. This translates to a CAGR of approximately 4.2% during the forecast period.
The Middle East and Africa Medical and Lab Refrigerator Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Medical and Lab Refrigerator Market report:
The Middle East and Africa Medical and Lab Refrigerator Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Medical and Lab Refrigerator Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Medical and Lab Refrigerator Market value chain can benefit from the information contained in a comprehensive market report.
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