GCC In-Vitro Diagnostic Devices Market

GCC In-Vitro Diagnostic Devices Market Overview:

The GCC in vitro diagnostic device market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. In-vitro diagnostic (IVD) devices are medical instruments used to conduct clinical tests on biological samples collected from the human body, such as blood, urine, or tissue. They are available in a wide range, from simple tests to complex DNA analyzers, including reagents, calibrators, kits, software, control materials, and other instruments. Numerous devices, such as specimen receptacles, calibrators, reagents, and control materials, can be used individually or in combination for in-vitro diagnosis. They are used in the diagnosis of various diseases and infections and the monitoring of drug therapies. As a result, IVD devices are gaining immense traction across the GCC countries due to the aging population, the expanding healthcare sector, and the establishment of standalone centers, academic institutes, and independent diagnostics chains.

The GCC in-vitro diagnostic devices market is primarily driven by the rising incidences of chronic diseases, such as diabetes, cancer, and cardiovascular dysfunction. Moreover, the recent coronavirus disease (COVID-19) outbreak across the globe is positively influencing market growth. This can be attributed to the listing of two IVD tests, including Cobas SARS-CoV-2 Qualitative assay and Real-Time PCR Coronavirus (COVID-19), by the World Health Organization (WHO) for emergency use during the pandemic. Besides this, there has been a rise in government investments in GCC countries to improve healthcare services and the accuracy and efficacy of IVD devices in executing diagnostic tests. In addition, the increasing insurance penetration under national health insurance systems, including the Mandatory Health Insurance (MHI) schemes, to facilitate better and easier access to diagnostic devices represents another significant growth-inducing factor. Furthermore, the increasing number of individuals who routinely seek diagnostic services to avoid complexities in their health conditions due to the rising health consciousness has catalyzed the demand for IVD devices. Other factors, including the rising prevalence of lifestyle diseases, the increasing number of expatriates, surging consumer healthcare spending, and high investments in healthcare infrastructure, are also anticipated to create a favorable market outlook. 

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC in vitro diagnostic device market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC in vitro diagnostic device market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC in vitro diagnostic device market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC in vitro diagnostic device market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC in vitro diagnostic device market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC in vitro diagnostic device market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC in vitro diagnostic device market industry. Furthermore, the value chain analysis of the GCC in vitro diagnostic device market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC In-Vitro Diagnostic Devices Market Segment Insights:

The GCC in vitro diagnostic device market has been analysed as followed:

By End-user:

• Hospital-Based Centers
• Diagnostics Chains
• Standalone Centers
• Others

By Application:

• Infectious Diseases
• Diabetes
• Blood Test
• Nephrology
• Cardiology
• Oncology
• Autoimmune Diseases
• Others

By Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC In-Vitro Diagnostic Devices Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The GCC in vitro diagnostic device market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs