Middle East and Africa Point of Care Diagnostics Market
The United Arab Emirates (UAE), Saudi Arabia and South Africa are the major countries in the MEA. The UAE was the largest market for Point of care Diagnostics in this region in 2020. Among the major countries in the MEA, the UAE has witnessed significant growth in the point of care diagnostics industry over the years. The growth of this industry in the UAE is attributed to the increasing in healthcare expenditure, and high prevalence of cancer, diabetes, and other diseases in the UAE. Moreover, the availability of quality healthcare drives market growth. According to the global cancer registry, in 2020, around 4,000 new cases of cancer were diagnosed in the country. ising geriatric population, shift in lifestyle, reduced physical activities, and obesity, among others, are the risk factors that are leading to the rise in the prevalence of diabetes. As per the International Diabetes Federation (IDF) Atlas 2020, the prevalence of diabetes was an estimated 1.22 million in UAE. The disease was observed commonly in the age group of 20–79 years. Therefore, the UAE government plans major actions to bring down the prevalence of diabetes in the region to 16% by 2021 by spreading awareness. Such activities are estimated to drive the demand point of care diagnostics in UAE, thereby driving the MEA point of care diagnostics market.
In case of COVID-19, MEA is highly affected specially Turkey. Economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflict and cannot implement any public health measures. Iran was in deep economic recession due to the US sanctions. Also, the major source of economic stabilization in Middle East countries is oil production and export. However, the recent pandemic is causing turbulence to the economies of the Middle East region. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage, are major impacts observed in the region. The Saudi government policies are favored of domestic pharmaceutical manufacturers including not any import duties on raw materials & intermediate products and interest-free funding support the growth of the pharmaceutical market in this region. Similarly, increasing incidence of COVID-19 create huge demand for kits and reagent used in detection of covid-19 virus. In April 2020, BGI Group, a Chinese genomics company, and Group-42, a UAE technology company, unveiled a new massive-throughput laboratory in the UAE to help with testing and diagnosis of the novel coronavirus. According to BGI, the lab will use RT-PCR diagnostic kits that have been approved by medical regulatory authorities in China, Europe, the United States, and Japan. As point of care diagnostics kits are majorly used in detection of novel coronavirus, so there was high impact of covid-19 on the point of care diagnostics market.
Strategic insights for the Middle East and Africa Point of Care Diagnostics 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 2021 | US$ 2,484.03 Million |
| Market Size by 2028 | US$ 5,433.77 Million |
| Global CAGR (2021 - 2028) | 11.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Point of Care Diagnostics 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 MEA point of care diagnostics market is expected to grow from US$ 2,484.03 million in 2021 to US$ 5,433.77 million by 2028; it is estimated to grow at a CAGR of 11.8% from 2021 to 2028. Escalating product launches and product developments is expected to fuel the market growth. The number of point-of-care testing has steadily increased over the last 40 years since its widespread introduction. The point of care market is likely to grow with the introduction of new products into the market, aimed at delivering inexpensive care at the facilities located at the closest-possible distances from the patients’ location. New technologies or products are being refined and improved to deliver easier to use devices with incremental improvements in analytical performance. The growth of the POC market is mainly attributed to the introduction of new devices to perform molecular testing. Many new devices have been launched in recent years. For instance, in June 2019, Abbott launched first-ever rapid POC HbA1c test to aid in the diagnosis of diabetes; this test provides results in three minutes, enabling clinicians to develop informed, individualized care plans during patient consultation. Moreover, in July 2021, BD announced launch of rapid and portable point-of-care antigen test for diagnosis of COVID-19. The new test kit is capable to deliver results within 15 minutes of the test. Such advancements in new launched devices will propel the overall MEA POC market growth during the forecast period.
In terms of product, the glucose monitoring products segment accounted for the largest share of the MEA point of care diagnostics market in 2020. In terms of prescription mode, the prescription-based testing segment held a larger market share of the MEA point of care diagnostics market in 2020. Further, the professional diagnostic centers segment held a larger share of the MEA point of care diagnostics market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the MEA point of care diagnostics market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Abbott; BD; bioMerieux SA; BIO-RAD LABORATORIES INC.; Danaher; F. HOFFMANN-LA ROCHE LTD.; Johnson and Johnson Services, Inc.; Nova Biomedical; Polymer Technology Systems, Inc. (PTS); and Siemens AG.
The Middle East and Africa Point of Care Diagnostics Market is valued at US$ 2,484.03 Million in 2021, it is projected to reach US$ 5,433.77 Million by 2028.
As per our report Middle East and Africa Point of Care Diagnostics Market, the market size is valued at US$ 2,484.03 Million in 2021, projecting it to reach US$ 5,433.77 Million by 2028. This translates to a CAGR of approximately 11.8% during the forecast period.
The Middle East and Africa Point of Care Diagnostics 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 Point of Care Diagnostics Market report:
The Middle East and Africa Point of Care Diagnostics 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 Point of Care Diagnostics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Point of Care Diagnostics Market value chain can benefit from the information contained in a comprehensive market report.
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