Middle East And Africa Companion Diagnostics Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report suggests that the Middle East and Africa companion diagnostics market is estimated to progress at a compound annual growth rate of 12.53% during the forecast years 2022-2028. Israel, South Africa, the UAE, Saudi Arabia, Turkey, and Rest of Middle East & Africa are studied in the given region.
Over the years, precision medicine has gained significant traction in the United Arab Emirates. In this regard, the government has restructured the reimbursement and pricing systems to gain from the potential of drug-diagnostic pairings. As a result, several companies have revised their strategies to create value for stakeholders, including patients, policymakers, and physicians. Therefore, such efforts to increase the adoption of precision medicine are expected to create lucrative opportunities for the companion diagnostics market.
On the other hand, the companion diagnostics market is at a nascent stage in South Africa. This is because professionals are unable to fully ascertain the potential of quick, accurate, and timely therapeutic intervention. Nevertheless, several manufacturers are targeting the market, owing to the rise in cancer cases. In this regard, a new regulatory authority was formed to oversee the sale of drugs and medical devices. These factors are thus expected to open new avenues for the companion diagnostics market in the upcoming years.
COMPETITIVE OUTLOOK
Major firms in the companion diagnostics market consist of Abbott Laboratories, Illumina Inc, Agilent, Qiagen, and Almac Group.
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