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Saudi Arabia In-Vitro Diagnostics Market
In 2023, the IVD market in Saudi Arabia was valued at US$ 1.10 billion. Renub Research projects that the market will be worth approximately US$ 1.48 billion by 2030. From 2024 to 2030, the industry is expected to grow at a CAGR of 4.33%. The primary cause of the market’s explosive growth is the escalating prevalence of several infectious and chronic illnesses. Saudi Arabia In-Vitro Diagnostics Market The growth of the IVD market in Saudi Arabia is being fueled by public education, better facilities, government initiatives, increased healthcare spending, and more awareness.
Saudi Arabia In-Vitro Diagnostics Market Overview
In Saudi Arabia, the use of in-vitro diagnostics has been steadily increasing. In Saudi Arabia, the in-vitro diagnostics industry is primarily driven by rising incidence rates of various infectious and chronic disorders. The population of the nation is currently estimated to be 33 million, and it is increasing by about 2% a year. The General Authority of Statistics in Saudi Arabia estimates that the elderly made up 4.2% of the country’s overall population and will continue to rise in the years to come. We anticipate a large rise in the prevalence of certain chronic diseases in the coming years due to the growing older population.
In Saudi Arabia, the use of in-vitro diagnostics has been steadily increasing. In Saudi Arabia, the in-vitro diagnostics industry is primarily driven by rising incidence rates of various infectious and chronic disorders. The population of the nation is currently estimated to be 33 million, and it is increasing by about 2% a year. The General Authority of Statistics in Saudi Arabia estimates that the elderly made up 4.2% of the country’s overall population and will continue to rise in the years to come. We anticipate a large rise in the prevalence of certain chronic diseases in the coming years due to the growing older population.
How Vision 2030 is driving growth in Saudi Arabia’s IVD market
The percentage of Saudi Arabia’s GDP allocated to healthcare increased to 6.6% in 2021 from just 3.7% ten years earlier. Spending on healthcare has increased significantly in the kingdom compared to counterparts in the region like the United Arab Emirates (UAE). To achieve Vision 2030 targets, healthcare spending is predicted to rise by 3% year on average between 2022 and 2025. The increased funding will enable the monarchy to fulfill its Vision 2030 goals of building more public hospitals, clinical laboratories, and modernized facilities.
IVD testing is anticipated to increase as a result of public and private investments in healthcare, especially in areas like cancer and infectious disease testing. Additionally, as healthcare becomes more decentralized, test volume from tertiary care will go to lower levels.
Saudi Arabia In-Vitro Diagnostics Company’s Overview
Major international businesses are actively involved in Saudi Arabia’s moderately competitive in-vitro diagnostics market. This makes a wide range of products available in Saudi Arabia. Among the leading companies in Saudi Arabia’s in-vitro diagnostics market are Siemens Healthineers, Abbott, F. Hoffmann-La Roche, Becton, Dickinson, and Company.
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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 Consulting Company. We have more than 14 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food Beverages, Power Energy, Information Technology, Telecom Internet, Chemical, Logistics Automotive, Consumer Goods Retail, Building, and Construction, Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.
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