Middle East & Africa Oncology Companion Diagnostic Market Size & Outlook
Middle East & Africa oncology companion diagnostic market, 2018-2030 (US$M)
MEA oncology companion diagnostic market highlights
- The MEA oncology companion diagnostic market generated a revenue of USD 197.1 million in 2023.
- The market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating product & service in 2023.
- Service is the most lucrative product & service segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 197.1 million |
| Market revenue in 2030 | USD 339.8 million |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Service |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Product, Service |
| Key market players worldwide | Agilent Technologies Inc, Illumina Inc, Qiagen NV, Thermo Fisher Scientific Inc, Roche, ARUP Laboratories, Abbott Laboratories, Myriad Genetics Inc, BioMerieux SA |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.1% of the global oncology companion diagnostic 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 1,857.1 million by 2030.
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Oncology Companion Diagnostic Market Scope
Oncology Companion Diagnostic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa oncology companion diagnostic 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 oncology companion diagnostic market will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 66.46% in 2023. Horizon Databook has segmented the Middle East & Africa oncology companion diagnostic market based on product, service covering the revenue growth of each sub-segment from 2018 to 2030.
MEA is expected to witness significant growth opportunities, as the majority of market is untapped due to the absence of structured cancer screening programs in underdeveloped African economies has impeded early detection efforts. However, recent initiatives in countries such as Morocco, the UAE, and South Africa have led to the organization of cancer screening programs.
Collaborative efforts between companies and government institutions to supply these tests are expected to drive market growth. These initiatives are anticipated to boost the development of new cancer detection tests. Despite the promise of novel tests such as liquid biopsy, their high cost and the shortage of skilled professionals to administer them pose significant challenges.
However, in June 2023, the Qatar government launched the new Qatar Cancer Plan 2023-2026, which aims to enhance cancer care and establish Qatar as a regional leader. Developed with key stakeholders and WHO experts, the plan covers prevention, early detection, diagnosis, treatment, and palliative care.
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Target buyers of Middle East & Africa oncology companion diagnostic market databook
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Our clientele includes a mix of oncology companion diagnostic market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa oncology companion diagnostic market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa oncology companion diagnostic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA oncology companion diagnostics market size, by country, 2018-2030 (US$M)
Middle East & Africa Oncology Companion Diagnostic Market Outlook Share, 2023 & 2030 (US$M)
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