Market Trends of Africa Molecular Diagnostics Industry
Oncology Segment is Expected to Witness a Strong Growth During the Forecast Period
Key factors propelling the growth of the oncology segment include the rising burden of cancer in African countries, the growing reach of the companies in the region, and the rising focus on early disease diagnosis.
The rising burden of cancer is expected to fuel the segment's growth during the forecast period. For instance, according to the World Health Organization (WHO), in February 2023, approximately 1.1 million new cancer cases occurred each year in Africa. There is a considerable increase in cancer mortality to nearly one million deaths per year by 2030. The rising cases of cancer are augmenting the demand for early cancer screenings in the region, which is expected to boost the demand for molecular diagnostic products for cancer diagnosis.
Furthermore, there is a growing focus on various African initiatives in the cancer molecular diagnosis space, propelling the segment's growth. For instance, in August 2023, the Cancer Access Partnership, a collaboration between the African Cancer Coalition, the Clinton Health Access Initiative, and the American Cancer Society, was formed as a part of the cancer diagnosis initiative. Such initiatives are believed to contribute largely to the demand for molecular diagnostics for cancer detection, which is believed to propel the segment's growth over the forecast period.
South Africa is Expected to Hold a Significant Share of the Market
South Africa is the largest developing country in the African region. The country has witnessed a significant transformation in the past few years due to the rising focus of companies on investing in this developing economy.
The growing use of point-of-care diagnostics in South Africa and the rising burden of chronic diseases are expected to propel the demand for molecular diagnostics in the country. For instance, as per the data from the National Institute of Health published in July 2022, it was observed that the prevalence of HIV in the country was around 14.0% during the year 2022. Furthermore, it is estimated that over 7.9 million people in the country are affected with HIV currently. As HIV patients are more prone to various chronic and infectious diseases, the demand for molecular diagnostics products is expected to increase in the country during the forecast period.
Additionally, increasing product launches with advanced features are expected to drive the studied market. In January 2022, South African biotech startup BioCODE, headquartered in Cape Town, determined the rapid test of an individual's risk for developing early-stage cancer and cardiovascular diseases. The test was implemented during the year 2022.
Additionally, in November 2023, through Africa PGI 2.0, Africa CDC shifted its focus from emergency response to building an optimized, resilient, and integrated molecular diagnostic and genomic surveillance ecosystem. Also, Africa PGI 2.0 focuses on strengthening Africa's molecular diagnostic, genomics, and bioinformatics ecosystem. Hence, with the government's implementation of such tests and initiatives to focus on molecular diagnostics in the region, the market for molecular diagnostics is expected to grow in the coming years.
