According to the latest report by IMARC Group, titled “GCC In-vitro Diagnostic Devices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the in-vitro diagnostic devices market in GCC reached US$ 969 Million in 2019. In-vitro diagnostic (IVD) devices refer to medical instruments that are used to perform tests using biological samples, such as blood, urine or tissue, taken from the human body. They are available in a wide variety, ranging from simple tests to sophisticated DNA analyzers, including calibrators, kits, software, reagents, control materials and other related instruments. IVD devices play a vital role in the GCC healthcare industry as they are crucial in the diagnosis of various medical conditions and infections, and monitoring drug therapies.
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GCC In-vitro Diagnostic Devices Market Trends:
The growing spread of the coronavirus disease (COVID-19) in the GCC countries has significantly boosted the market growth, as the World Health Organization (WHO) has listed two IVD tests for emergency use during the pandemic. These tests include the cobas SARS-CoV-2 Qualitative assay and Real-Time PCR Coronavirus (COVID-19). Additionally, the rising incidences of chronic diseases and the growing geriatric population are further driving the demand for IVD devices. As per the WHO, about 60% of deaths in the GCC countries are caused due to non-communicable diseases, such as diabetes, cancer and cardiovascular dysfunction. This has compelled governments of GCC countries to take initiatives to improve the healthcare services in the region. Some of these initiatives are aimed at investing in improved IVD devices, which are more accurate and efficient in executing diagnostic tests. This, along with the expanding insurance coverage under national health insurance programs, such as the Mandatory Health Insurance (MHI) schemes, to provide better and easy access to diagnostic devices, are boosting the sales of IVD devices across the region. Owing to these factors, the market value is projected to reach US$ 1,351 Million by 2025, expanding at a CAGR of 5.6% during 2020-2025.
Market Breakup by Type:
- Hospital-Based Centers
- Diagnostics Chains
- Standalone Centers
- Patient Self-Testing
- Academic Institutes
Amongst these, in-vitro diagnostic devices are majorly used in hospital-based centers.
Market Breakup by Application:
- Infectious Diseases
- Blood Test
- Autoimmune Diseases
Market Region Summary:
Region-wise, Saudi Arabia exhibits a clear dominance in the market. Other major regions include the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain. The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the industry.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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