Saudi Arabia In-Vitro Diagnostics (IVD) Market

Saudi Arabia In-Vitro Diagnostics (IVD) Market Overview:

The Saudi Arabia in-vitro diagnostics (ivd) 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 diagnostics are medical devices used to perform diagnostic tests on biological samples, such as urine, blood, and tissues. IVD tests assist in detecting and monitoring infectious diseases, autoimmune diseases, and various medical conditions that are being used to analyze drug therapies. In recent years, in-vitro diagnostics have gained traction as they are critical in decision making and minimize the burden of diseases and healthcare expenditures. The Government of Saudi Arabia is extensively investing in the growth of its healthcare sector; to cater to the needs of its rapidly growing population, consequently boosting the demand for in-vitro-diagnostics.

One of the primary factors driving the market is the increasing incidents of numerous infectious and chronic diseases, such as cancer and neurological diseases, along with the rising geriatric population. Other than this, the growing inactivity and rising consumption of unhealthy diets are positively influencing the market growth. Besides this, as Saudi Arabia has one of the highest rates of obesity in the world, the demand for in-vitro diagnostics is escalating. In line with this, there is a significant rise in the number of individuals diagnosed with hypertension and diabetes. Along with this, the increasing number of patients suffering from respiratory, gastrointestinal, and STDs (sexually transmitted diseases) is contributing to the market growth. Furthermore, technological developments, such as rapid test kits for the IVD industry, are expected to create lucrative growth opportunities for key players. Furthermore, there has been rising adoption of in-vitro diagnostic testing in Saudi Arabia on account of the rising awareness toward point-of-care testing is propelling the market growth. Moreover, the introduction of portable, transportable, and handheld instruments, high sensitivity and specificity associated with in vitro diagnostic testing and extensive research and development (R&D) activities by key players to introduce new product variants, including molecular sequencing, next-generation sequencing, clinical chemical tests, and immunoassays are other major growth-inducing factors.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the Saudi Arabia in-vitro diagnostics (ivd) 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. 

The report analyses the competitive structure of the Saudi Arabia in-vitro diagnostics (ivd) 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 Saudi Arabia in-vitro diagnostics (ivd) market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the Saudi Arabia in-vitro diagnostics (ivd) 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 Saudi Arabia in-vitro diagnostics (ivd) market industry. Furthermore, the value chain analysis of the Saudi Arabia in-vitro diagnostics (ivd) 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. 

Saudi Arabia In-Vitro Diagnostics (IVD) Market Segment Insights:

The Saudi Arabia in-vitro diagnostics (ivd) market has been analysed as followed:

By Application:

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

By End-User:

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

Competative Landscape: 

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Highlights of the Saudi Arabia In-Vitro Diagnostics (IVD) 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 Saudi Arabia in-vitro diagnostics (ivd) 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