Dublin, Feb. 18, 2022 (GLOBE NEWSWIRE) -- The "Saudi Arabia Diagnostic Labs Market, By Provider Type (Hospital Based v/s Stand Alone), By Test Type (Radiology v/s Pathology), By End User (Referrals, Walk-ins, Corporate Clients), By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabian Diagnostic Labs Market is valued at USD1546.81 million in 2021 and is expected to grow at a CAGR of 6.79% to reach a value of USD2339.67 million by 2027.
Increasing healthcare expenditure by the government, rise in the number of laboratories, and surge in awareness among consumers about the benefits of preventive healthcare are the primary factors driving the demand for the Saudi Arabian Diagnostic Labs Market during the forecast period.
The rise in the efforts of the government to lower the dependency on the oil & gas industry and generate new revenue sources has led to huge investments for the development of the healthcare sector in the country. Also, owing to the increasing disposable income of the consumers, the demand for quality healthcare services is expected to grow.
The outbreak of COVID-19 accelerated the growth of the Saudi Arabian Diagnostic Labs Market to test the presence of novel coronavirus; preliminary and blood tests were in demand among the patients. The growing prevalence of cardiovascular diseases, gastrointestinal disorders, renal disorders, cancer, and other diseases requires laboratory tests to detect their presence and find a suitable treatment to cure the diseases efficiently.
Moreover, people in the country are becoming aware of the ill effects of infectious diseases and are taking the help of diagnostic tests to remain healthy. Also, the rise in the geriatric population in the country who are prone to many diseases is further expected to accelerate the demand for the Saudi Arabian Diagnostic Labs Market in the forecast period.
The Saudi Arabian Diagnostic Labs Market is segmented based on provider type, test type, end-user, company, and regional distribution. Based on provider type, the market is divided into Hospital Based and Stand Alone.
Hospital Based is expected to hold the largest market share in the forecast period owing to the huge footfall of patients in hospital facilities and the huge expenditure on diagnostic labs in hospitals. The presence of skilled healthcare professionals, specialized departments, and costly equipment in hospital laboratories is also driving the segmental growth.
Objective of the Study:
- To analyze the historical growth in the the market size of the Saudi Arabian Diagnostic Labs Market from 2017 to 2021.
- To estimate and forecast the market size of the Saudi Arabian Diagnostic Labs Market from 2022E to 2027F and growth rate until 2027F.
- To classify and forecast the Saudi Arabian Diagnostic Labs Market based on provider type, test type, end-user, region, and company.
- To identify dominant region or segment in the Saudi Arabian Diagnostic Labs Market.
- To identify drivers and challenges for the Saudi Arabian Diagnostic Labs Market.
- To examine competitive developments such as expansions, new services, mergers & acquisitions, etc., in the Saudi Arabian Diagnostic Labs Market.
- To identify and analyze the profile of leading players operating in the Saudi Arabian Diagnostic Labs Market.
- To identify key sustainable strategies adopted by the market players in the Saudi Arabian Diagnostic Labs Market.
The major players operating in the Saudi Arabian Diagnostic Labs Market are
- Al Borg Medical Laboratories
- Delta Medical Laboratories
- Al-Farabi Medical Laboratories
- Alfa Medical Laboratories
- Medical Diagnostic Labs
- Roya Specialized Medical Laboratories
- Tibyana Medical Laboratories
- Al Hyatt Medical Laboratory Company
- Advanced Cell Laboratory for Medical Analysis Company
- Al-Arab Medical Laboratories
Report Scope:
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022E
- Forecast Period: 2023F-2027F
Saudi Arabia Diagnostic Labs Market, By Provider Type
- Hospital Based
- Stand Alone
Saudi Arabia Diagnostic Labs Market, By Test Type
- Pathology
- Radiology
Saudi Arabia Diagnostic Labs Market, By End-User
- Referrals
- Walk-ins
- Corporate Clients
Saudi Arabia Diagnostic Labs Market, By Region
- Northern & Central
- Western
- Southern
- Eastern
For more information about this report visit https://www.researchandmarkets.com/r/bikr6d
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