South Africa Laboratory Developed Tests Market Size & Outlook
South Africa laboratory developed tests market, 2018-2030 (US$M)
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South Africa laboratory developed tests market highlights
- The South Africa laboratory developed tests market generated a revenue of USD 133.1 million in 2023 and is expected to reach USD 183.4 million by 2030.
- The South Africa market is expected to grow at a CAGR of 4.7% 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 133.1 million |
| Market revenue in 2030 | USD 183.4 million |
| Growth rate | 4.7% (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, South Africa 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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South 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 22.84% in 2023. Horizon Databook has segmented the South 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 government of South Africa made improvements in basic healthcare services by providing free primary care and diagnostic services for children & pregnant women. The South African government also collaborated with the UNO to improve healthcare measures for decreasing mortality and increasing life expectancy.
Many multinational companies, such as F. Hoffmann-La Roche AG, are focusing on the South African market by forming joint ventures with local companies, such as the Southern African Laboratory Diagnostics Association (SALDA), which is promoting the use of high-quality laboratory tests in the country.
Owing to the aforementioned factors, the country is expected to witness growth over the forecast period. Key players like Roche Ltd and Abbott are expanding their presence in the country. For instance, in February 2020, Roche announced an investment in the Cape Town site to help the growth and expansion of its diagnostics business.
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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 South Africa laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into South Africa laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa laboratory developed tests market size, by technology, 2018-2030 (US$M)
South Africa Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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