Meticulous Research® Forecasts Middle East & Africa Molecular Diagnostics Market to Exceed $1.16 Billion by 2031

[Redding, California, 18-03-2024] - Meticulous Research®, a leading provider of premium market intelligence solutions, has unveiled its latest report titled "Middle East & Africa Molecular Diagnostics Market by Offering, Test Type, Technology, Application, End User - Forecast to 2031." The comprehensive study reveals profound insights into the dynamic landscape of molecular diagnostics in the Middle East & Africa (MEA) region.

According to the report, the Middle East & Africa molecular diagnostics market is poised to reach a staggering valuation of over $1.16 billion by 2031, showcasing a compelling CAGR of 5.4% from 2024 to 2031. With molecular diagnostic tests increasingly pervading various sectors such as infectious diseases, oncology, and clinical genetics, advancements in this domain are set to redefine the accuracy and pace of diagnosis, emerging as a cornerstone in patient-tailored interventions and therapeutics.

Download Free Sample Report: https://www.meticulousresearch.com/download-sample-report/cp_id=5791

Driving Forces and Growth Trajectory

The growth of the Middle East & Africa molecular diagnostics market is underpinned by several factors, including the escalating prevalence of both communicable and non-communicable diseases, technological advancements, substantial investments and funding directed towards bolstering healthcare systems in the region, and the surging healthcare expenditure. Despite these favorable conditions, inconsistencies in medical device regulations across the MEA region and the high costs associated with molecular diagnostic tests pose challenges to market expansion.

The burgeoning medical and wellness tourism sector in the UAE and a growing emphasis on companion diagnostics present promising avenues for market growth. However, the shortage of skilled professionals emerges as a significant obstacle hindering the market's trajectory.

Browse in depth @ https://www.meticulousresearch.com/product/middle-east-and-africa-molecular-diagnostics-market-5791

Insights and Market Dynamics

The report provides an in-depth assessment of leading market players' product portfolios, geographical analysis, and key growth strategies implemented over the past few years. Noteworthy players profiled in the report include AstraGene LLC (U.A.E.), F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Becton, Dickinson and Company (U.S.), Illumina, Inc. (U.S.), AstraZeneca Gulf FZ LLC (Dubai), QIAGEN N.V. (Netherlands), Danaher Corporation (U.S.), Abbott Laboratories (U.S), and Agilent Technologies, Inc. (U.S.).

Elevating Healthcare Standards: Addressing Infectious and Non-communicable Diseases

The Middle East & Africa region grapples with recurring outbreaks of infectious diseases, as evidenced by various outbreaks documented by the World Health Organization (WHO) in 2022. Additionally, the burden of non-communicable diseases, including cardiovascular diseases, cancers, respiratory diseases, and diabetes, is on the rise across African countries, according to data from the Department of Statistics: South Africa.

In the Middle East, diseases like the Middle East Respiratory Syndrome Coronavirus (MERS-CoV) underscore the urgent need for molecular diagnostics. As such, the demand for molecular diagnostics in the MEA region is expected to surge in response to the frequent outbreaks of infectious diseases and the escalating burden of communicable and non-communicable diseases.

Request Free Research Report Sample: https://www.meticulousresearch.com/request-sample-report/cp_id=5791

Segmentation and Market Dynamics

The report segments the MEA molecular diagnostics market based on Offering, Test Type, Technology, Application, and End User. Key insights include:

Offering: The reagents & kits segment is projected to dominate the market, attributed to the commercial availability of diagnostic reagents, disease-specific test kits, and increasing awareness regarding early disease diagnosis.

Test Type: Laboratory tests are anticipated to hold the largest market share, driven by higher accuracy and reliability compared to point-of-care tests.

Technology: The polymerase chain reaction (PCR) segment is expected to lead the market, owing to its sensitivity, cost-effectiveness, and numerous benefits.

Application: Infectious diseases are forecasted to command the largest market share, fueled by the imperative need for early diagnosis and prevention.

End User: Hospitals & clinics are poised to be the primary end users, facilitated by initiatives aimed at enhancing healthcare access and the high prevalence of infectious diseases.

Regional Outlook

Saudi Arabia is slated to emerge as the frontrunner in the MEA molecular diagnostics market, driven by initiatives aimed at bolstering healthcare access, ongoing hospital expansion projects, and the increasing incidence of cancer.

Quick Buy @ https://www.meticulousresearch.com/Checkout/82693854

Contact:
Meticulous Market Research Pvt Ltd
Office No-202, 203,204,205,206
2nd Floor, Pushpak Business Hub,
Wakad, Pimpri-Chinchwad,
411057, India.
Phone: +9102066394988
CIN- U93000PN2013PTC149455

We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition. Through our mixed bag of research offerings - syndicated research, custom research, and analyst engagement - we enable smart decision making to enhance business performance for global organizations. Our focus is also on finding answers to the challenging questions that global business leaders face on a daily basis. Each year, we deliver more than 300 syndicate studies and 60+ consulting projects across eight industry verticals in 20+ geographic markets.

This release was published on openPR.