Market Research Report
Saudi Arabia In-vitro Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||391058|
|Published||Content info||70 Pages
Delivery time: 2-3 business days
|Saudi Arabia In-vitro Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: September 1, 2019||Content info: 70 Pages||
The in-vitro diagnostics (IVD) market in Saudi Arabia is growing at a moderate CAGR of around 3.5%. Factors that are propelling the growth of this market are increasing the use of point-of-care diagnostics across healthcare facilities, and growing chronic diseases burden in the country.
Point-of-Care (POC) technologies refer to those diagnostic tests that are conducted near the site of patient care. The result of care is timely and allows for rapid recovery of the patient. These technologies have a major impact on diagnostic testing in Saudi Arabia. These hold the potential to significantly impact healthcare delivery and address the challenges of health disparities. Diabetes accounts for a major share of Saudi Arabia's healthcare expenditure. POC tests make glucose testing easier and more accurate. Despite being the well-known and most-used POC diagnostics, glucometers are just one of the many POC diagnostics that are currently available commercially. Other commonly-used POC diagnostics include pregnancy testing kits, blood cholesterol testing kits, and urine analysis test strips.
Due to the ease of use and ability to provide instant results, combined with the ease of procurement, the use of POC diagnostics in Saudi Arabia is increasing rapidly. This, in turn, is promoting the growth of the IVD market in the country. POC technologies are influential market drivers for the IVD industry.
As per the scope of this report, in vitro diagnostics involves medical devices and consumables that are utilized to perform in vitro tests on various biological samples. They are used for the diagnosis of various medical conditions, such as chronic diseases. In this report, a detailed analysis of the in vitro diagnostics market is presented, with specific attention toward diabetes and other acute and chronic disease.
Immunochemistry Expected to Show Good Growth Over the Forecast Period
Immunochemistry devices deal with the study of antigen-antibody structures, biosynthesis of antibodies, antigen-antibody reactions, immunoassays, structure and properties of immune hormones, and preparation and use of monoclonal antibodies.
The factors like the rise in biomarker development in Saudi Arabia, increasing focus on drug monitoring, and increasing incidences of infectious diseases are driving the growth of the market. The growing demand for biomarkers is propelling the growth of the immunochemistry instrument market. With the recent technological advancements in the assay systems as well as the increasing applications of biomarkers, the accuracy and yield of immunochemistry-based diagnostic tests have improved.
Some of the major market players in immunochemistry in vitro diagnostic devices are Roche, Abbott, Danaher, and Thermo Fisher, among others.
The market for in-vitro diagnostics in Saudi Arabia is moderately competitive and major global players are actively present in the country. This is allowing high product availability in Saudi Arabia. In terms of local players for in vitro diagnostics, Saudi Arabia is behind the other neighboring countries such as South Africa. Therefore, most of the market share is grabbed by global players.