According to Renub Research, the Saudi Arabia IVD Market is forecasted to reach approximately US$ 1.48 Billion by 2030. Saudi Arabia is poised to become the world’s fastest-growing major economy in 2022, surpassing other Middle Eastern countries and major emerging economies. In vitro diagnostics (IVD) play a crucial role in monitoring overall health. These tests involve examining samples such as blood or tissue, typically conducted in laboratory equipment like test tubes or Petri dishes. IVD serves as a non-invasive method for disease detection and prevention, usable in both healthcare facilities and home settings. Additionally, healthcare professionals utilize IVD for precision medicine to determine optimal treatment plans for patients.
According to Saudi Arabia’s General Authority of Statistics, the elderly makes up 4.2% of the total population and are projected to rise further. With this aging population, we anticipate a notable increase in chronic diseases in the coming years. Additionally, fueled by rising physical inactivity and unhealthy diets, the prevalence of lifestyle diseases is on the rise in the country. Saudi Arabia ranks among the highest globally in obesity rates, with approximately 36% of the population affected. Furthermore, hypertension affects about 29% of males and 24% of females in the country.
In 2023, the Saudi Arabia IVD market reached US$ 1.10 Billion and is forecasted to grow at a CAGR of 4.33% from 2024 to 2030. The increasing prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and infectious diseases serves as a significant driver for the Saudi Arabia in-vitro diagnostics market. With the country facing a rising burden of chronic illnesses, there is a growing demand for in-vitro diagnostic products to enable early and accurate disease diagnosis, thus stimulating market growth. For example, tuberculosis cases in Saudi Arabia increased by 5.1% in 2021, according to a report by the World Bank. Additionally, the International Diabetes Federation (IDF) predicts a rise in diabetes cases from 4.3 million in 2021 to 7.5 million by 2045 in Saudi Arabia, further fueling the demand for precise in-vitro diagnostic products and driving market expansion.
Request a free sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=saudi-arabia-in-vitro-diagnostics-market-p.php
Under the Vision 2030 strategy, the kingdom has introduced a comprehensive array of reforms, enhancing the business environment and various sectors, including healthcare. In 2021, Saudi Arabia allocated approximately 6.6% of its GDP to healthcare, a notable increase from the 3.7% reported a decade ago. This healthcare expenditure surpasses that of neighboring countries like the United Arab Emirates (UAE). To align with Vision 2030 objectives, healthcare spending is projected to grow by an annual average of 3% from 2022 to 2025. This increased budget aims to materialize plans to expand public hospitals, clinical laboratories, and modernized healthcare facilities nationwide. Both public and private investments in healthcare are anticipated to drive growth in IVD testing, especially in areas such as infectious disease and cancer testing. Furthermore, the decentralization of healthcare services is expected to redistribute testing volumes from tertiary care facilities to lower levels of care.
ELISA and CLIA tests are poised for expansion within the Saudi Arabia IVD market.
ELISA and CLIA tests command a significant portion of the Saudi Arabia IVD market. Renowned for their accuracy and versatility, these diagnostic tests play a crucial role in detecting various diseases and conditions. Their widespread use across medical facilities and laboratories underscores their importance in healthcare. With ongoing advancements in technology and increased demand for precise diagnostic solutions, ELISA and CLIA tests continue to maintain their stronghold in the Saudi Arabia IVD market. As the healthcare landscape evolves and the need for efficient diagnostic tools grows, ELISA and CLIA tests are expected to retain their substantial share in the market.
There was a rise in instrument products within the Saudi Arabia IVD market.
In Saudi Arabia, the market for in vitro diagnostic (IVD) products has experienced an uptick in the availability of instrument offerings. As demand for diagnostic solutions grows, there has been a notable increase in the range of instruments available within the market. These instruments play a crucial role in facilitating accurate and efficient diagnostic processes across various healthcare settings. With ongoing advancements in technology and the expanding need for precise diagnostic tools, the rise in instrument offerings reflects the dynamic nature of the Saudi Arabian IVD market and its commitment to meeting the evolving healthcare demands of the population.
The market is expected to experience a boost in clinical chemistry.
The field of clinical chemistry is poised to propel growth in the market for in vitro diagnostics (IVD) in Saudi Arabia. With increasing emphasis on comprehensive diagnostic testing, clinical chemistry plays a pivotal role in disease detection and monitoring. As healthcare providers seek advanced diagnostic solutions to meet evolving patient needs, the demand for clinical chemistry assays is on the rise. This trend is expected to drive market expansion, fostering innovation and investment in diagnostic technologies. As a result, clinical chemistry emerges as a key driver of growth in the Saudi Arabian IVD market, facilitating improved healthcare outcomes.
Key Players
Roche Diagnostics, Danaher Corporation, Abbott Laboratories, Thermo Fischer Scientific, Bio–Rad Laboratories, Inc., Sysmex Corporation, Becton, and Biomerieux operate within the Saudi Arabia IVD Market.
Test Types – Saudi Arabia IVD Market breakup in 11 viewpoints:
- ELISA & CLIA
- PCR
- Rapid Test
- Fluorescence Immunoassays (FIA)
- In Situ Hybridization
- Transcription Mediated Amplification
- Sequencing
- Colorimetric Immunoassay
- Radioimmunoassay (RIA)
- Isothermal Nucleic Acid Amplification Technology
- Others
Products – Saudi Arabia IVD Market breakup in 3 viewpoints:
- Reagents
- Instruments
- Services
Application – Saudi Arabia IVD Market breakup in 7 viewpoints:
- Immunochemistry
- Clinical Chemistry
- Hematology
- Coagulation
- Molecular Diagnostics
- Microbiology
- Others
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
- Roche Diagnostics
- Danaher Corporation
- Abbott Laboratories
- Thermo Fischer Scientific
- Bio–Rad Laboratories, Inc.
- Sysmex Corporation
- Becton
- Biomerieux
About the Company:
Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.
Contact Us:
Renub Research
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Email: info@renub.com
LinkedIn: https://in.linkedin.com/company/renub-research
Web: www.renub.com
