DUBLIN, April 4, 2019 /PRNewswire/ -- The "Saudi Arabia In-Vitro Diagnostics (IVD) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia in-vitro diagnostics (IVD) market was worth US$ 650 Million in 2018
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.
Looking forward, the market is further projected to reach a value of US$ 1,020 Million by 2024, growing at a CAGR of around 8% during 2019-2024.
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 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?
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Saudi Arabia In-Vitro Diagnostics Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by End-User
5.4 Market Breakup by Application
5.5 Market Forecast
5.6 SWOT Analysis
5.7 Value Chain Analysis
5.8 Porters Five Forces Analysis
6 Market Breakup by End-User
6.1 Hospital-Based Centres
6.2 Diagnostics Chains
6.3 Standalone Centres
7 Market Breakup by Application
7.1 Infectious Diseases
7.3 Blood Test
7.7 Autoimmune Diseases
8 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/jcnlsb/saudi_arabia_1?w=5
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