Saudi Arabia IVD Market is predicted to undergo a CAGR of 4.33% between 2024 and 2030
The increasing incidence of chronic and infectious disorders is driving an expanding market. For instance, in Makkah, Saudi Arabia, anemia affects 38.7% of the population, with a higher prevalence among females. Non-alcoholic fatty liver disease affects 16.6% of the general population in Saudi Arabia. Consequently, there is a growing demand for clinical chemistry and body fluid assay techniques to diagnose these disorders accurately. Technological advancements and using biomarkers have improved the accuracy and yield of clinical chemistry-based diagnostic tests.Immunodiagnostics has witnessed brilliant improvements in the in vitro diagnostics market in Saudi Arabia. The convergence of revolutionary technology and a developing emphasis on healthcare has fuelled this progress. Integrating automatic structures, like ELISA platforms, has more desirable efficiency and accuracy of IVD assessments, bearing in mind the fast and reliable detection of various sicknesses. Moreover, using novel biomarkers and monoclonal antibodies has extended diagnostic abilities, permitting early disorder identification and customized remedy techniques. Hence, the Saudi Arabia IVD market was worth US$ 1.10 Billion in 2023.
The collaboration between research institutions, healthcare providers, and industry players has facilitated the development of indigenous immunodiagnostic solutions tailored to regional healthcare needs. According to a report by the International Trade Administration, the Saudi Arabian Government planned to spend USD 36.8 million on healthcare and social development. The Saudi Arabian healthcare market has seen a considerable increase in the various sections because of multiplied investments by of the government authorities and personal organizations. This has led to higher adoption costs of advanced diagnostic gadgets, like in-vitro diagnostic units.
ELISA and CLIA tests hold a substantial share in the Saudi Arabia IVD market
By the test types, the Saudi Arabia IVD market is fragmented into ELISA & CLIA, PCR, Rapid Test, Fluorescence Immunoassays (FIA), In Situ Hybridization, Transcription Mediated Amplification, Sequencing, Colorimetric Immunoassay, Radioimmunoassay (RIA), Isothermal Nucleic Acid Amplification Technology, and Others. ELISA and CLIA tests are positioned for growth in the Saudi Arabia IVD market. As chronic and infectious diseases become more widespread, unique diagnostic solutions are needed. These tests are necessary for disease detection and monitoring because of their high sensitivity and specificity. Moreover, the growth of the Saudi Arabia IVD market is propelled by improved healthcare spending, advancements in technology, and the expansion of healthcare infrastructure, all contributing to the adoption of ELISA and CLIA tests.The market for in vitro diagnostic (IVD) products in Saudi Arabia has seen a rise in instrument offerings
By products, the Saudi Arabia IVD market is categorized into Reagents, Instruments, and Services. The Saudi Arabia IVD market witnessed an increase in instrument products. Increasing healthcare spending, rising incidence of chronic diseases, and a growing elderly population drive demand for advanced diagnostic solutions. Instruments, which include immunoassay analyzers, molecular diagnostic units, and point-of-care testing devices, have prominence for accuracy and performance in ailment detection. Also, government projects to improve healthcare infrastructure and provide early illness analysis contribute to expanding instruments in the Saudi Arabia IVD market.Clinical chemistry field is expected to drive growth in the market for in vitro diagnostics (IVD) in Saudi Arabia
By application, the Saudi Arabia IVD market is segmented into Immunochemistry, Clinical Chemistry, Hematology, Coagulation, Molecular Diagnostics, Microbiology, and Others. The market is anticipated to enjoy a surge in clinical chemistry. With a developing burden of chronic illnesses like diabetes and cardiovascular issues, demand rises for diagnostic checks to display the patient's health. Clinical chemistry analyzers are pivotal in assessing diverse biomarkers, aiding disorder diagnosis and treatment tracking. Moreover, technological advancements enhance the accuracy and performance of those analyzers, further fueling their adoption in the Saudi Arabia IVD market.Key Players
Roche Diagnostics, Danaher Corporation, Abbott Laboratories, Thermo Fischer Scientific, Bio-Rad Laboratories, Inc., Sysmex Corporation, Becton, and Biomerieux are present in the Saudi Arabia IVD Market.In December 2022 - bioMerieux announced that VIDAS KUBE received a CE marking. VIDAS simplifies immunoassays, offering laboratories a simple, automated, and robust system that delivers fast and reliable results. VIDAS is being used in 160 countries and 25k labs worldwide and is one of the most widely used immunoassay systems in clinical labs globally.
In April 2023 - Oxford Nanopore Technologies and bioMerieux are partnering to bring nanopore sequencing to infectious disease diagnostics to improve global health outcomes.
The report titled “Saudi Arabia IVD Market By Test Types (ELISA & CLIA, PCR, Rapid Test, Fluorescence Immunoassays (FIA), In Situ Hybridization, Transcription Mediated Amplification, Sequencing, Colorimetric Immunoassay, Radioimmunoassay (RIA), Isothermal Nucleic Acid Amplification Technology, and Others), Products (Reagents, Instruments, and Services), Application (Immunochemistry, Clinical Chemistry, Hematology, Coagulation, Molecular Diagnostics, Microbiology, and Others), Company Analysis (Roche Diagnostics, Danaher Corporation, Abbott Laboratories, Thermo Fischer Scientific, Bio-Rad Laboratories, Inc., Sysmex Corporation, Becton, and Biomerieux)” provides a complete study of Saudi Arabia IVD Industry.
Test Types - Saudi Arabia IVD Market breakup in 11 viewpoints:
1. ELISA & CLIA2. PCR
3. Rapid Test
4. Fluorescence Immunoassays (FIA)
5. In Situ Hybridization
6. Transcription Mediated Amplification
7. Sequencing
8. Colorimetric Immunoassay
9. Radioimmunoassay (RIA)
10. Isothermal Nucleic Acid Amplification Technology
11. Others
Products - Saudi Arabia IVD Market breakup in 3 viewpoints:
1. Reagents2. Instruments
3. Services
Application - Saudi Arabia IVD Market breakup in 7 viewpoints:
1. Immunochemistry2. Clinical Chemistry
3. Hematology
4. Coagulation
5. Molecular Diagnostics
6. Microbiology
7. Others
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Roche Diagnostics2. Danaher Corporation
3. Abbott Laboratories
4. Thermo Fischer Scientific
5. Bio-Rad Laboratories, Inc.
6. Sysmex Corporation
7. Becton
8. Biomerieux
Table of Contents
Companies Mentioned
- Roche Diagnostics
- Danaher Corporation
- Abbott Laboratories
- Thermo Fischer Scientific
- Bio-Rad Laboratories, Inc.
- Sysmex Corporation
- Becton
- Biomerieux
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 130 |
Published | February 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 1.1 Billion |
Forecasted Market Value ( USD | $ 1.48 Billion |
Compound Annual Growth Rate | 4.3% |
Regions Covered | Saudi Arabia |
No. of Companies Mentioned | 8 |