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Saudi Arabia In-vitro Diagnostics (IVD) Market 2021-2026: Size, Price, Growth, Share, Outlook, and Forecast

09-14-2021 07:17 AM CET | Health & Medicine

Press release from: IMARC Group

Saudi Arabia In-vitro Diagnostics (IVD) Market 2021-2026:

As per the latest study by IMARC Group, titled "Saudi Arabia In-Vitro Diagnostics (IVD) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the Saudi Arabia in-vitro diagnostics (IVD) market reached a value of US$ 760 Million in 2020. Looking forward, IMARC Group expects the Saudi Arabia in-vitro diagnostics (IVD) market to exhibit moderate growth during 2021-2026. The High temperatures in Saudi Arabia have led people to lead a sedentary life and avoid outdoor physical activities such as walking, jogging, cycling, etc. Along with this, they have a high-sugar diet which has increased the cases of lifestyle diseases such as diabetes, obesity and cardiovascular problems. Moreover, the healthcare system of Saudi Arabia is facing pressure by the aging population which can be attributed to decreasing national fertility rates along with increased national life expectancy by nearly 35 years from an average of 42 years in 1950 to 76 years in 2014. As a result of these factors, the demand for in-vitro diagnostics has risen in Saudi Arabia in recent years.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Request Free Sample Report: https://www.imarcgroup.com/saudi-arabia-in-vitro-diagnostics-market/requestsample

Market Drivers:
IVDs offer substantial cost reduction opportunities for the Government of Saudi Arabia and provide high-quality healthcare solutions to the population. They deliver efficient, preventative care through integrated screening programs, offer early detection and assist in reducing disease incidence- and mortality-rates. Moreover, the Government increased its healthcare budget from SAR 133 Billion in 2017 to SAR 147 Billion in 2018. This has aided in expanding healthcare facilities, developing integrated healthcare systems, enhancing diagnostics laboratories and incorporating advanced medical devices such as IVDs. Another factor stimulating the demand for IVDs is the elevating income levels of people in Saudi Arabia. This, coupled with a rise in health awareness, has enabled them to increase their expenditure on medical health. Further, in order to boost private-sector participation in the healthcare system, the Government is shifting towards a "universal coverage" insurance system and providing loans for the development of numerous healthcare facilities like hospitals, clinics and laboratories in both rural and urban areas. This, in turn, is expected to attract more investors in rural spaces of the country.

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/saudi-arabia-in-vitro-diagnostics-market

Key Market Segmentation:

Breakup by Application:
• Infectious diseases
• Diabetes
• Blood test
• Nephrology
• Cardiology
• Oncology
• Autoimmune diseases

Breakup by End-use:
• Hospital-based centers
• Diagnostic chains
• Standalone centers
• Academic institutes
• Patient self-testing
• Others

Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Key highlights of the Report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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