Middle East & Africa Laboratory Developed Tests Market Size & Outlook
Middle East & Africa laboratory developed tests market, 2018-2030 (US$M)
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MEA laboratory developed tests market highlights
- The MEA laboratory developed tests market generated a revenue of USD 486.8 million in 2023.
- The market is expected to grow at a CAGR of 5% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology 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 486.8 million |
| Market revenue in 2030 | USD 686.8 million |
| Growth rate | 5% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.9% of the global laboratory developed tests market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 6,481.1 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa laboratory developed tests 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 laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 22.56% in 2023. Horizon Databook has segmented the Middle East & Africa laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing prevalence of chronic conditions, such as cancer, cardiovascular diseases, infectious diseases, and others, is expected to drive the market growth. According to the WHO, in 2020, 35,421,726 new cancer cases were reported in the region.
Moreover, it was seen that nearly nine out of 22 countries in this region did not have operational facilities to manage cancer. This demonstrates an unmet need that can be targeted using PoC facilities for preliminary screening. However, economic development and high unmet healthcare needs in emerging markets like South Africa are expected to drive this market.
Hence, higher untapped opportunities and growing need for early diagnosis of diseases are anticipated to boost the market. The prevalence of COVID-19 also impacted the Middle East market positively.
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Our clientele includes a mix of laboratory developed tests market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa laboratory developed tests market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA laboratory developed tests market size, by country, 2018-2030 (US$M)
Middle East & Africa Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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