Dublin, Aug. 20, 2024 (GLOBE NEWSWIRE) -- The "Africa IVD Market Size, Share, Forecast, & Trends Analysis by Offering, Technology Application Diagnostic Approach End User- Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The Africa IVD market is expected to reach $1.65 billion by 2031, at a CAGR of 3.1% from 2024 to 2031.
The growth of this market is driven by the rising prevalence of chronic & infectious diseases, IVD market players' increasing investments in Africa, the growing demand for Point-of-care (POC) & rapid diagnostics, the rising geriatric population, government initiatives supporting Africa's healthcare sector, rising healthcare expenditure, and increasing R&D expenditure. However, the high prices of advanced IVD products, result variations observed in rapid IVD tests, and stringent technical requirements & regulatory processes for high/moderate-complexity tests restrain the growth of this market.
Furthermore, increasing awareness regarding the importance of early diagnosis, advances in genomics & proteomics, and the increasing adoption of personalized medicine are expected to generate growth opportunities for market stakeholders. However, uneven access to healthcare and the shortage of trained healthcare professionals are major challenges in the Africa IVD market.
The kits & reagents segment is projected to witness the highest growth rate of 3.3% during the forecast period of 2024-2031. The growth of this segment is driven by the emerging threats of infectious diseases such as malaria, tuberculosis, and other neglected tropical diseases, increasing test volumes for infectious diseases, and favorable initiatives to improve diagnosis, treatment, and healthcare access.
In 2024, the immunoassay/immunochemistry segment is expected to account for the largest share of 34.5% of the Africa IVD market. The segment's large share is attributed to the benefits of immunoassay technologies, such as efficient, convenient, and accurate research tools for the detection and quantitation of targets, continuous development of new biomarkers, and cost-effectiveness, coupled with the growing adoption of automated platforms for ELISA.
The cardiology segment is expected to grow at the highest CAGR during the forecast period of 2024 to 2031. The growing cardiac disease burden, coupled with advancements in cardiac disease diagnostic testing and the growing awareness of point-of-care and rapid cardiac tests among healthcare providers, including physicians and cardiologists, is expected to drive the segment's growth.
Risk factors such as hypertension, diabetes mellitus, obesity, and dyslipidemia are increasingly prevalent in African countries, significantly contributing to the rising cases of CVDs. Therefore, the prevalence of cardiovascular diseases is on the rise in the African region. The American Heart Association estimates that cardiovascular diseases will overtake infectious diseases as the leading cause of death in the African continent by the year 2030.
Based on diagnostic approach, the Africa IVD market is categorized into laboratory testing, point-of-care testing, and OTC/self-testing. The point-of-care testing segment is expected to grow at a faster CAGR during the forecast period. The segment's growth can be attributed to the affordability, ease of use, and rapid results offered by the POCT, high burden of hepatitis, syphilis, and HIV coupled with POCT as the preferred option for testing these diseases, and favorable initiatives to expand the access of POCT in the region.
In Africa, the adoption of POCT is driven by its affordability, ease of use, and quick results. The region's economic and infrastructural challenges, coupled with underdeveloped testing capabilities, further underscore the importance of POCT. It is commonly used for diagnosing hepatitis, syphilis, and HIV. The rising prevalence of HIV, particularly among young women and adolescent girls in sub-Saharan Africa - who accounted for over 77% of new infections among young people aged 15-24 in 2022, according to UNAIDS - is expected to increase the demand for POCT.
The hospitals & clinics segment is expected to grow at the highest CAGR during the forecast period of 2024 to 2031. With the frequent outbreaks of infectious diseases and the increasing prevalence of chronic diseases, the number of hospital visits is expected to increase, which is expected to support the segment's growth in the future. African countries are also significantly investing in hospital infrastructure to treat patients from across the world. For instance, in February 2024, Roha Medical Campus, backed by U.S. investors, invested USD 400 million to open a hospital complex, which is expected to be operational in 2025. Such initiatives, coupled with the rising prevalence of diseases, growing number of hospitals, and rising demand for diagnostic testing, drive the segment growth.
An in-depth analysis of the geographical scenario of the Africa IVD market provides detailed qualitative and quantitative insights into countries of Africa: South Africa, Egypt, Algeria, Nigeria, Morocco, Egypt, Kenya, Tunisia, Cote d'Ivoire, Tanzania, Cameroon, Rest of Africa. In 2024, South Africa is expected to dominate the Africa IVD market.
There is a high prevalence of communicable and non-communicable diseases in South Africa. According to Our World in Data (Global Change Data Lab, U.K.), the total burden of neglected tropical diseases and malaria (measured in Disability-Adjusted Life Years (DALYs) in South Africa was expected to reach 135,889.7 in 2021.
Furthermore, according to UNAIDS DATA 2021, 7.8 million people were living with HIV in South Africa, an increase of 3.0% from 2010. The high healthcare expenditure, growing access to quality healthcare, favorable government initiatives, and presence of distributors for major IVD companies improving access to IVD products in the country.
Market Insights
Drivers
- Government Initiatives Supporting Africa's Healthcare Sector
- Rising Prevalence of Chronic & Infectious Diseases
- IVD Market Players' Increasing Investments in Africa
Restraints
- High Prices of Advanced IVD Products
Opportunities
- Increasing Awareness Regarding the Importance of Early Diagnosis
Challenges
- Uneven Access to Healthcare
- Shortage of Trained Healthcare Professionals
Regulatory Analysis
- Regulation of In Vitro Diagnostics
- Harmonization of Regulations for Diagnostic Devices
Porter's Five Forces Analysis
Competition Analysis
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
- Major IVD Distributors in Africa, by Country
- Market Share Analysis (2023)
Company Profiles
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Danaher Corporation
- Becton, Dickinson and Company
- Biomerieux SA
- Siemens Healthineers AG (A Subsidiary of Siemens AG)
- Qiagen N.V.
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Illumina, Inc.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd
Scope of the Report:
Africa IVD Market Assessment by Offering
- Reagents & Kits
- Instruments
- Software & Services
Africa IVD Market Assessment By Technology
- Immunoassay/Immunochemistry
- Whole Blood Glucose Monitoring
- Molecular Diagnostics
- Point-of-care Diagnostics
- Biochemistry/Clinical Chemistry
- Microbiology
- Hematology
- Coagulation & Hemostasis
- Other IVD Technologies
(Other IVD Technologies include hybridization and loop-mediated amplification)
Africa IVD Market Assessment by Application
- infectious diseases
- diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Diseases
- Other Applications
(Other applications include toxicology, gastroenterology, neonatal, genetic, and neurological disorders)
Africa IVD Market Assessment by Diagnostic Approach
- Diagnostic Laboratories
- Point-of-care Testing
- OTC/Self-testing
Africa IVD Market Assessment by End User
- Laboratory Testing
- Hospitals & Clinics
- Home Healthcare
- Other End Users
(Other End Users segment includes long-term care facilities, academic & research institutes, ambulatory care centers, and transfusion laboratories)
Africa IVD Market Assessment, by Geography
- South Africa
- Egypt
- Algeria
- Nigeria
- Morocco
- Kenya
- Tunisia
- Cote d'Ivoire
- Tanzania
- Cameroon
- Rest of Africa
For more information about this report visit https://www.researchandmarkets.com/r/mam8im
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