Saudi Arabia In-Vitro Diagnostics (IVD) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Saudi Arabia In-Vitro Diagnostics (IVD) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The Saudi Arabia in-vitro diagnostics (IVD) market size reached US$ 696.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 917.1 Million by 2028, exhibiting a growth rate (CAGR) of 4.6% during 2023-2028.

Saudi Arabia currently represents the largest market for in-vitro diagnostics in the GCC region. In-vitro diagnostics, plays a significant role in in the Saudi Arabia healthcare system by providing accurate diagnosis and prognosis, which enables improved monitoring and treatment. Diagnostics represent only a small share of the total healthcare spending but are critical in medical decision making and reducing the burden of diseases and healthcare expenditures.

There has been a steady growth in the adoption of in-vitro diagnostics in Saudi Arabia. Increasing incidence rates of various infectious and chronic diseases represent some of the key drivers of the in-vitro diagnostics market in Saudi Arabia. The country’s population is currently around 33 Million and is growing annually at around 2%. According to Saudi Arabia’s General Authority of Statistics, elderly constituted 4.2% of the total Saudi population and are expected to increase further in the coming years. With an increasing elderly population, we expect the prevalence of a number of chronic diseases to increase significantly in the next few years. Moreover, catalyzed by rising physical inactivity and consumption of unhealthy diets, the prevalence of a number of lifestyle diseases have been increasing in the country. Saudi Arabia has one of the highest rates of obesity in the world. It is estimated that around 36% of the total population are obese. Additionally, the prevalence of hypertension was around 29% among males and around 24% among females. Saudi Arabia also has one of the highest prevalence of diabetes with around 19% of the adult population suffering from diabetes in the country. Some of the other factors catalyzing the growth of in-vitro diagnostics in Saudi Arabia include rising healthcare expenditures, improving healthcare infrastructure, initiatives by the government, rising awareness levels, etc.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Saudi Arabia in-vitro diagnostics (IVD) market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on application and end-user.

Breakup by Application:

Infectious Diseases
Diabetes
Blood Test
Nephrology
Cardiology
Oncology
Autoimmune Diseases
Others

On the basis of application, the market has been segmented into infectious diseases, diabetes, blood test, nephrology, cardiology, oncology, autoimmune diseases and others.

Breakup by End-User:

Hospital-Based Centres
Diagnostics Chains
Standalone Centres
Others

Based on end-user, the report finds that hospital-based centers currently represent the leading end-user of in-vitro diagnostics in Saudi Arabia.

Competitive Landscape:

The report also provides the competitive landscape and the profiles of key players operating in this market.

This report provides a deep insight into the Saudi Arabia in-vitro diagnostics (IVD) devices market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Saudi Arabia in-vitro diagnostics (IVD) market in any manner.

Key Questions Answered in This Report:

How has the Saudi Arabia in-vitro diagnostics (IVD) market performed so far and how will it perform in the coming years?
What are the key application segments in the Saudi Arabia in-vitro diagnostics (IVD) market?
What has been the impact of COVID-19 on the Saudi Arabia in-vitro diagnostics (IVD) market?
What are the major end-users in the Saudi Arabia in-vitro diagnostics (IVD) market?
What are the various stages in the value chain of the Saudi Arabia in-vitro diagnostics (IVD) market?
What are the key driving factors and challenges in the Saudi Arabia in-vitro diagnostics (IVD) market?
What is the degree of competition in the Saudi Arabia in-vitro diagnostics (IVD) market?