Saudi Arabia Laboratory Developed Tests Market Size & Outlook
Saudi Arabia laboratory developed tests market, 2018-2030 (US$M)
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Saudi Arabia laboratory developed tests market highlights
- The Saudi Arabia laboratory developed tests market generated a revenue of USD 132.2 million in 2023 and is expected to reach USD 190.9 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 5.4% 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.
Laboratory developed tests market data book summary
| Market revenue in 2023 | USD 132.2 million |
| Market revenue in 2030 | USD 190.9 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 1.1% of the global laboratory developed tests market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia laboratory developed tests market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 190.9 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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Saudi Arabia 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 22.69% in 2023. Horizon Databook has segmented the Saudi Arabia 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 diseases created a significant need for enhanced diagnostic tools and therapeutic alternatives in the country. According to Globocan 2020, 27,885 new cancer cases with 13,069 mortalities were reported in Saudi Arabia.
Among new cancer patients, 14,253 cases were in males, while 13,632 were in females. Colorectal cancer, breast cancer, thyroid cancer, non-Hodgkin lymphoma, and Leukemia are the most common types of cancers.
Furthermore, high unmet clinical needs, rise in disposable income, and increase in number of collaborative agreements with international organizations, such as WHO & UN, are creating opportunities for growth in this country. Several local and international companies are offering LDTs in Saudi Arabia, including Al Borg Laboratories, Eurofins Scientific, Mayo Clinic Laboratories, and others.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia laboratory developed tests market size, by technology, 2018-2030 (US$M)
Saudi Arabia Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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