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Middle-East & Africa In Vitro Diagnostics (IVD) Market expected to reach 3.59 Million USD by 2025 | Key Players - BioMérieux SA, F. Hoffmann-La Roche Ltd. Becton, Dickinson and Company; Hologic, Inc. (Gen-Probe); Siemens Healthcare.
Middle-East & Africa In Vitro Diagnostics (IVD) Market
The Middle-East and Africa In-Vitro diagnostics (IVD) market has been estimated at USD 2.7 Million in 2018 and it is expected to reach USD 3.59 Million by 2025, growing at a Compound Annual Growth Rate (CAGR) of 4.20% over the forecast period 2018 -2025.
Drivers, Challenges and Opportunities:
The growing geriatric population, which is prone to disease, needs regular diagnostic tests. This is one of the main factors of growth in the Middle East and Africa (MEA) market. In addition, technological developments in terms of accuracy, portability and cost-effectiveness should accelerate the demand for IVD devices. Also, the growing demand for point-of-care devices (PoCs) is expected to stimulate market growth.
However, the shortage of experienced health professionals and the lack of awareness among the population limit market growth. There are also strict regulations on new and existing products and techniques that may limit market growth to a certain extent.
Browse details of 140 number of pages research report developed on Middle-East & Africa In Vitro Diagnostics (IVD) Market Research Report @ https://www.researchcosmos.com/reports/middle-east-and-africa-in-vitro-diagnostics-market/96028061
It is expected that the introduction of improved technologies such as miniaturization of microfluidics, biochips and nano-biotechnology will increase opportunities for this market. These improvements have resulted in greater access to diagnostic tests at the point of care and should result in quick and effective results. As in the last 50 years, IVD technologies are only used in clinical laboratories, which are now spreading to domestic applications.
Immunology, hematology, clinical chemistry, molecular diagnostics, coagulation, microbiology and others are the popular technologies implemented in the IVD market. The areas of infectious disease, diabetes, cancer, cardiology, nephrology, autoimmune disease, drug testing, etc., are having huge demand for this industry. IVD is having huge applications in the sectors like hospitals, laboratories, home care and so on.
Geographic Segmentation:
The Middle East and Africa is an emerging market with growth potential that should dominate the revenue in the future. Geographically, the in vitro diagnostics market in the Middle East and Africa is analyzed in various regions, including the United Arab Emirates, Saudi Arabia, Israel and South Africa. At the regional level, the Kingdom of Saudi Arabia is the most dominant and is the largest revenue generator for the IVD market in the Middle East.
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Some of the leading companies in the in vitro diagnostic market include BioMérieux SA, F. Hoffmann-La Roche Ltd. Becton, Dickinson and Company; Hologic, Inc. (Gen-Probe); Siemens Healthcare; Abbott; Allerdner; Sysmex Corporation; Qiagen; Cepheid; and others.
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