Middle East & Africa Biotechnology Market Size & Outlook
Middle East & Africa biotechnology market, 2018-2030 (US$M)
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MEA biotechnology market highlights
- The MEA biotechnology market generated a revenue of USD 61,387.4 million in 2023.
- The market is expected to grow at a CAGR of 13.5% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating application in 2023.
- Bioinformatics is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 61,387.4 million |
| Market revenue in 2030 | USD 148,681.4 million |
| Growth rate | 13.5% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Bioinformatics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Health, Food & Agriculture, Natural reseources & Environment, Industrial Processing, Bioinformatics, Others Applications |
| Key market players worldwide | AstraZeneca PLC, Gilead Sciences Inc, Bristol-Myers Squibb Co, Sanofi SA, Biogen Inc, Abbott Laboratories, Pfizer Inc, Amgen Inc, Novo Nordisk A/S ADR, Merck KGaA, Johnson & Johnson, Novartis AG ADR, Roche Holding AG, Lonza Group Ltd |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.0% of the global biotechnology market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 916,391.1 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Biotechnology Market Scope
Biotechnology Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa biotechnology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biotechnology market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 46.09% in 2023. Horizon Databook has segmented the Middle East & Africa biotechnology market based on health, food & agriculture, natural reseources & environment, industrial processing, bioinformatics, others applications covering the revenue growth of each sub-segment from 2018 to 2030.
The incidence of cancer is expected to significantly increase in the Middle East and Africa in the coming years. In 2020, increased incidence rates were observed in for several major cancer sites. For instance, cervical cancer rates increased by 80% in Zimbabwe and 36% in South Africa.
Presence of unmet medical needs has fueled demand for effective cancer management, which in turn has increased the market potential. Rising demand for effective therapeutics for cancer is also anticipated to propel developments in stem cell-based oncology landscape in the African countries.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa biotechnology market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa biotechnology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA biotechnology market size, by country, 2018-2030 (US$M)
Middle East & Africa Biotechnology Market Outlook Share, 2023 & 2030 (US$M)
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