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