Rising Focus on R&D Investment and Expansion by Key Players Drives Middle East & Africa Industrial Robotics Market
Research and development (R&D) have been the crucial part of the pharmaceutical business. It enables companies to develop new products with significant medical and commercial potential for various diagnostic applications. Due to the surging prevalence of infectious diseases, companies invest and generate huge revenues for expansion activities. During the COVID-19 pandemic, Thermo Fisher Scientific Inc. witnessed a 48% increase in the sales of its specialty diagnostics segment (sub-segmented into clinical diagnostics, immunodiagnostics, microbiology, transplant diagnostics, and healthcare market channel) in 2020. The segmental revenue of the company further increased in 2021 due to higher demand and sales of immunodiagnostics products used in COVID-19 treatment. Siemens Healthineers announced the investment of over US$ 32 million in its Glasgow Laboratory Diagnostics Manufacturing Facility in Newark, Delaware, in September 2021. The investment extending over 24 months, enabled the company to add over 20 diagnostic tests in Delaware manufacturing capabilities. This initiative boosted the productivity of companies by maintaining stability across their diagnostic supply chains.The extensive R&D for introducing innovative products opens several opportunities for small players and start-ups.
Manufacturers have also made a few key investments in the last few years. Cisco Systems, a global technology leader, invested US$ 225 million to combat the COVID-19 pandemic. This enabled the company to expand significantly and encourage new players to enter the market.
Middle East & Africa Immunodiagnostics Market Overview
In Saudi Arabia, hypertension, diabetes, obesity, heart diseases, and asthma are reported as common chronic diseases. These chronic diseases can be well monitored with the use of in-vitro diagnostics. According to the November 2021 report of the World Bank on the prevalence of noncommunicable diseases in Saudi Arabia, 185,500 new cases of cardiovascular disease, 303,500 new cases of chronic respiratory illness, and 2.1 million new cancer cases were recorded. Further, as per the 2021 report of the International Diabetes Federation (IDF), the burden of diabetes in Saudi Arabia is expected to increase from 4.3 million in 2021 to 7.5 million by 2045, and the demand for immunoassay products is likely to rise in the country, thus fueling the Middle East & Africa immunodiagnostics market in Saudi Arabia.Similarly, increasing developments by the key market players are boosting market growth. For instance, in February 2020, Ortho Clinical Diagnostics launched the VITROS XT 3400 Chemistry System, which completes the company's VITROS XT Solutions, a suite of solutions for clinical diagnostics laboratories to obtain consistently fast, accurate, and reliable results. The VITROS XT 3400 is available in several countries in the Middle East, including Saudi Arabia. Thus, such product launches are expected to increase market growth.
According to the data published by Globocan in 2020, cancer incidence was 27,885, whereas the five-year prevalence was 82,640 in Saudi Arabia. Colorectum, breast, thyroid, non-Hodgkin lymphoma, and leukemia were the most common cancer types in the country. The high burden of cancer cases will likely raise the demand for immunodiagnostics, influencing the market's growth during the forecast period.
Middle East & Africa Immunodiagnostics Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Immunodiagnostics Market Segmentation
The Middle East & Africa immunodiagnostics market is segmented into product, clinical indication, end user, and country.Based on product, the Middle East & Africa immunodiagnostics market is segmented into enzyme-linked immunosorbent assays (ELISA), chemiluminescence immunoassays (CLIA), radioimmunoassays (RIA), and others. In 2023, the enzyme-linked immunosorbent assays (ELISA) segment registered the largest share in the Middle East & Africa immunodiagnostics market. The chemiluminescence immunoassays (CLIA) segment is further segmented into vitamin D assay market, HIV detection market, HIV ag/ab combo assay market, and other tests.
Based on clinical indication, the Middle East & Africa immunodiagnostics market is segmented into infectious diseases, hepatitis+HIV, endocrinology, gastrointestinal, metabolics, and others. In 2023, the infectious diseases segment registered the largest share in the Middle East & Africa immunodiagnostics market. The infectious diseases segment is further segmented into COVID-19, tuberculosis, lyme, infection management, zika, treponema, torch, measles and mumps, VZV, and EBV. The endocrinology segment is further segmented into hypertension, growth, diabetes, thyroid, and reproductive endocrinology.
Based on end user, the Middle East & Africa immunodiagnostics market is segmented into hospitals, clinics, diagnostic laboratories, academic & research institutes, and others. In 2023, the hospitals segment registered the largest share in the Middle East & Africa immunodiagnostics market.
Based on country, the Middle East & Africa immunodiagnostics market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. In 2023, Saudi Arabia registered the largest share in the Middle East & Africa immunodiagnostics market.
Abbott Laboratories; bioMerieux SA; Danaher Corp; DiaSorin SpA; F. Hoffmann-La Roche Ltd; PerkinElmer Inc; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Siemens Healthcare GmbH; Svar Life Science AB; and Thermo Fisher Scientific Inc are some of the leading companies operating in the Middle East & Africa immunodiagnostics market.
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- Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the immunodiagnostics market, as well as those hindering it
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Table of Contents
Companies Mentioned
- Abbott Laboratories
- bioMerieux SA
- Danaher Corp
- DiaSorin SpA
- F. Hoffmann-La Roche Ltd
- PerkinElmer Inc
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Siemens Healthcare GmbH
- Svar Life Science AB
- Thermo Fisher Scientific Inc
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 210 |
Published | October 2023 |
Forecast Period | 2023 - 2030 |
Estimated Market Value in 2023 | 636.46 Million |
Forecasted Market Value by 2030 | 1089.81 Million |
Compound Annual Growth Rate | 8.0% |
Regions Covered | Africa, Middle East |
No. of Companies Mentioned | 10 |