UAE Clinical Laboratory Services Market: Robust Economic Growth in UAE to Enable Market Gain Pace
Also the companies have considerable focus on product innovation. For instance, Abbott is focusing on next generation laboratory automation solutions to help laboratories meet the rising demand in tests. Given the scenario, the demand for clinical laboratory services is expected to scale higher in the coming years. As per TMR, between 2017 and 2025, expansion demonstrated by the market will get stoked at 5.4% CAGR. At this pace, the market will value at US$2.6 bn by the end of 2025, from US$1.6 bn in 2016.
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Based on service provider, the market was dominated by clinic-based laboratories, which held over 38% share in 2016. In terms of test, the clinical chemistry segment held the leading share of 37.9% in the UAE clinical laboratory services market in 2016.
Rising Incidence of Chronic Ailments Fuels Demand for Clinical Laboratory Services
The rising incidence of chronic ailments and infectious diseases is the chief driver of the UAE clinical laboratory services market. In the last few years, infectious diseases and chronic ailments have increasingly spread across the Middle East, which has in turn fuelled the demand effective clinical diagnosis in the region. Also the rising aging population have stoked the demand for clinical laboratory services. With age people become more vulnerable to diseases and infection, which is why the demand for clinical laboratory services is considerably high in this demography.
In the last two decades, the GCC countries have demonstrated robust economic growth. This coupled with the expanding medical tourism, government initiatives aiming at development of the healthcare infrastructure, and rising awareness of infectious diseases, the clinical laboratory services market will record accelerated pace of gains in the UAE. Also the spurring investment in the healthcare sector will enable the market showcase strong growth in the coming years.
Considering these improvements, the UAE presents an environment conducive to novel product launches. Hence, in the last few years the country gained traction from several leading international manufacturers of medical devices. For instance, leading pharmaceutical companies such as Abbott Laboratories, Inc., expanded their operations across the UAE, giving much impetus to the clinical laboratory services market.
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Lack of Medical Personnel Inhibits Growth Trajectory
On the downside, the UAE clinical laboratory services market is restrained by the shortage of medical personnel. “Despite recent medical developments, the market is reeling under shortage of medical personnel in Gulf countries, compared to other nations in the West,” said a lead TMR analyst. This has put increasing pressure on the government for provision of improved healthcare and clinical laboratory services.
Nevertheless, the UAE has high unmet medical needs and large patient pool, which will continue creating lucrative opportunities for the clinical laboratory services market. Besides this, the market is also expected to gain impetus, as healthcare reforms gain pace across GCC nations.
This review is based on a TMR report, titled “Clinical Laboratory Services Market (Test Type – Clinical Chemistry (Biochemistry and Endocrinology), Medical Microbiology & Cytology (HLA Typing, Haematology, Blood Bank Transfusion Medicine, Andrology, and Toxicology), Human Genetics, and Tumor Genetics; Service Providers – Hospital-based Laboratories, Clinic-based Laboratories, Standalone Laboratories, and Clinical Research Organizations) - UAE Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025.”
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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