Dublin, Aug. 10, 2021 (GLOBE NEWSWIRE) -- The "Saudi Arabia In-Vitro Diagnostics (IVD) Market (By Technology/Technique, Application, End User), Impact of COVID-19, Size, Share, Major Deals & Key Players Analysis - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia In-Vitro Diagnostics (IVD) market is predicted to reach US$ 1,242 Million by 2027
Saudi Arabia is the largest IVD market in the GCC region. As in other countries, Saudi Arabia is facing the challenges of fighting with infectious disease including HBV, TB, HCV, COVID-19 and HIV, as well as various chronic disease and cancer. In-vitro diagnostics (IVDs) play an important role in the detection of infectious diseases.
In vitro diagnosis refers to the diagnosis of diseases or other condition of the human body through the collection, preparation, and testing of human samples with reagents, instruments, and systems. Due to the upsurge of the geriatric population and the high burden of chronic and infectious diseases, like diabetes, cancer, and COVID-19, the Saudi Arabia IVD market is slated to show significant growth, as these chronic disorders can be diagnosed and monitored using In-vitro diagnostics (IVD) products.
Moreover, Saudi Arabia government is taking number of initiatives to improve the healthcare sector in the country. The Saudi Ministry of Health plans an expenditure of approximately SAR 23 Billion on the new initiatives within the industry of healthcare. Saudi Arabia government has set the target of privatizing 295 hospitals by 2030, under the Saudi Vision 2030 Plan. Furthermore, the government seeks to improve the country's healthcare sector by adopting digital information systems.
Impact of COVID-19 on Saudi Arabia In-Vitro Diagnostics Market
The COVID-19 outbreak has created a sense of urgency and panic among people globally. In this scenario, the in-vitro diagnostics forms the crux of increased testing. Manufacturers in the in-vitro diagnostic market are focusing on developing novel technologies for maximum testing within a minimum period.
For instance, in April 2021, Sysmex Corporation obtained in vitro diagnostic approval for the manufacturing and marketing of the DetectAmp SARS-CoV-2 RT-PCR Kit, a SARS coronavirus nucleic acid kit that detects the RNA of the novel coronavirus (SARS-CoV-2).
The novel coronavirus has accelerated the research and development activities in the in-vitro diagnostics market. Development and production in maximum numbers is the need of the hour. Therefore, quick approvals are proving to be the cherry on the cake for the growth of the in-vitro diagnostic market.
By Technique/Technology - Saudi Arabia In-Vitro Diagnostics (IVD) Market Analysis
- On technique/technology basis, Immunoassay and Clinical Chemistry are the leading segment of the Saudi Arabia IVD market.
- Self-Monitoring of Blood Glucose (SMBG) holds the 3rd spot in the Saudi Arabia IVD market in 2020.
- Molecular Diagnostics is likely to account for double digit share of the Saudi Arabia IVD market by 2027.
- Hematology and Coagulation/Hemostasis segments are competing closely to grab maximum market share of the pie.
- Point of Care Testing (POCT) market segment held least share of the Saudi Arabia IVD market.
By Application - Saudi Arabia In-Vitro Diagnostics (IVD) Market Analysis
- On the basis of application, Infectious diseases and Diabetes are the leading segments of the Saudi Arabia IVD market. Together they contributed over 50% share of the total Saudi Arabia IVD market.
- Oncology application accounted for 3rd highest share of the Saudi Arabia IVD market in 2020, followed by cardiovascular diseases segment.
- Autoimmune Diseases was responsible for single digit share of the Saudi Arabia IVD market in 2020, while Nephrology application segment held least share of the Saudi Arabia IVD market.
By End Users - Saudi Arabia In-Vitro Diagnostics (IVD) Market Analysis
- Government Labs & Hospitals was responsible for lion's share of the Saudi Arabia IVD market in 2020.
- In 2020, Private Labs & Hospitals contributed nearly a quarter to the overall Saudi Arabia IVD market.
- Saudi Arabia government has set the target of privatizing 295 hospitals by 2030, under the Saudi Vision 2030 Plan.
Saudi Arabia IVD Market - Company Analysis
- In June 2021, Thermo Fisher Scientific announced the launch of a new CE-IVD-marked COVID-19 test, The TaqPath COVID-19.
- In April 2021, Sysmex Corporation obtained IVD approval in Japan for the manufacturing and marketing of the DetectAmp SARS-CoV-2 RT-PCR Kit, a SARS coronavirus nucleic acid kit that detects the RNA of the novel coronavirus (SARS-CoV-2).
- In April 2021, Siemens Healthineers completed the acquisition of Varian Medical Systems, Inc.
- In January 2021, Abbott received CE Mark for two new uses of its Panbio COVID-19 Ag Rapid Test Device for the detection of the SARS-CoV-2 virus: asymptomatic testing and self-swabbing.
- In January 2020, Roche entered into a 15-year, non-exclusive partnership with Illumina to broaden the adoption of distributable next-generation sequencing (NGS) based testing in oncology.
Key Topics Covered:
1. Executive Summary
2. Impact of COVID-19 on Saudi Arabia IVD Market
3. Saudi Arabia
3.1 Population
3.2 Per Capita Healthcare Expenses
3.3 Healthcare Expenditure
4. Saudi Arabia In-Vitro Diagnostics (IVD) Market and Forecast (2015 - 2027)
5. Saudi Arabia In-Vitro Diagnostics (IVD) Market Share and Forecast (2015 - 2027)
5.1 By Technique/Technology - Saudi Arabia In-Vitro Diagnostics (IVD) Market Share and Forecast
5.2 By Application - Saudi Arabia In-Vitro Diagnostics (IVD) Market Share and Forecast
5.3 By End User - Saudi Arabia In-Vitro Diagnostics (IVD) Market Share and Forecast
6. By Technique/Technology - Saudi Arabia In-Vitro Diagnostics (IVD) Market and Forecast (2015 - 2027)
6.1 Immunoassay Market and Forecast
6.2 Clinical Chemistry Market and Forecast
6.3 Hematology Market and Forecast
6.4 Coagulation/Hemostasis Market and Forecast
6.5 Microbiology Market and Forecast
6.6 Molecular Diagnostic Market and Forecast
6.7 Self Monitoring of Blood Glucose (SMBG) Market and Forecast
6.8 Point of Care Testing (POCT) Market and Forecast
7. By Application - Saudi Arabia In-Vitro Diagnostics (IVD) Market and Forecast (2015 - 2027)
7.1 Infectious Diseases Market and Forecast
7.2 Cardiovascular Diseases Market and Forecast
7.3 Diabetes Market and Forecast
7.4 Oncology Market and Forecast
7.5 Nephrology Market and Forecast
7.6 Autoimmune Diseases Market and Forecast
8. By End User - Saudi Arabia In-Vitro Diagnostics (IVD) Market and Forecast (2015 - 2027)
8.1 In-Vitro Diagnostics - Government Labs & Hospitals Market and Forecast
8.2 In-Vitro Diagnostics - Private Labs & Hospitals Market and Forecast
8.3 In-Vitro Diagnostics - Others Market and Forecast
9. In-Vitro Diagnostics (IVD) Market - Major Deals
9.1 2021
9.2 2020
9.3 2019
9.4 2018
9.5 2017
9.6 2016
10. Saudi Arabia IVD Market - Key Players Analysis (2013 - 2026)
10.1 Roche
10.1.1 Company Overview
10.1.2 Initiatives/Recent Developments
10.1.3 Sales Analysis
10.2 Abbott
10.3 Sysmex Corporation
10.4 Danaher Corporation
10.5 Thermo Fischer Scientific
10.6 Siemens Healthineers
10.7 Biomerieux
11. Saudi Arabia In-Vitro Diagnostics (IVD) Market - Driving Factors
11.1 Government Initiatives Drives In-Vitro Diagnostics (IVD) Market
11.2 Rising Incidence of Various Infectious and Chronic Diseases
11.3 Expanding Elderly Population Segment
11.4 Technology Advancement Spurring the IVD Market
12. Saudi Arabia In-Vitro Diagnostics (IVD) Market - Challenges
12.1 Regulatory Requirements and Stringent Policies
12.2 Lack of Research Focus
For more information about this report visit https://www.researchandmarkets.com/r/r0vn96
