GCC In-Vitro Diagnostics Market Size (2024 - 2029)

GCC In-Vitro Diagnostics Market Analysis

The GCC In-Vitro Diagnostics Market size is estimated at USD 2.07 billion in 2024, and is expected to reach USD 2.66 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).

COVID-19 significantly impacted the market's growth during the pandemic period owing to the notable impact on the demand for the Vitro diagnostics market. For instance, a research article published in NCBI Journal in December 2021 stated that the most prevalent comorbidity among COVID-19-positive patients was Diabetes Mellitus (DM) with a prevalence of 68.3%, hypertension with 42.6%, and obesity at 42.2%. Thus, the prevalence of DM was high among hospitalized Covid-19 patients at King Khaled University Hospital (KKUH), Riyadh, Saudi Arabia. Such high prevalence of diabetes mellitus and COVID-19 patients boosted the in-vitro diagnostics market during the pandemic period. In addition, the demand for in vitro diagnostics is expected to remain intact due to the emergence of mutant strains of the SARS-CoV-2 virus during the post-pandemic period, thereby contributing to the market's growth during the forecast period.

The growing burden of chronic diseases, infectious diseases, and increasing healthcare expenditure is expected to be the major driving factors for the growth of the market in GCC.

For instance, in the article published by Khaleej Times in November 2022, every year in the UAE, around 8,000 and 10,000 patients suffer from a stroke, equating to about one patient every hour. Such a surge in the prevalence of chronic heart diseases among the GCC population is expected to demand in-vitro diagnostics owing to early and effective diagnostics, thereby contributing to the market's growth. Additionally, the data published by the Ministry of Health in June 2022 mentioned that 90% of men were infected by HIV in Saudi Arabia annually, and 9 out of every 10 cases in Saudi Arabia remain undiagnosed due to a lack of advanced diagnostics. Such a diagnosed population in GCC is expected to drive the demand for in-vitro diagnostics for early and effective diagnosis, thereby contributing to the market's growth. Similarly, the Arab Times article published in July 2022 mentioned that in Kuwait, 26 people were infected with hepatitis B, 7 with hepatitis C, 57 with syphilis, and 3 with HIV from January 2022 to April 2022. Such incidence of chronic and infectious diseases among the GCC population leading to the demand for diagnostics is expected to drive the growth of the market during the forecast period.

The increasing market player's strategies to develop and launch innovative products in GCC are also expected to drive market growth. For instance, in February 2021, Lapiac Technology partnered with UAE-based Companies YAS pharmaceuticals and Pure Health to launch an Artificial Intelligence (AI)-based COVID-19 antigen test system.

Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, stringent regulations are likely to impede market growth.

GCC In-Vitro Diagnostics Industry Segmentation

As per the scope of the report, In-vitro diagnostics is defined as a medical device used alone or in combination, intended by the manufacturer for the in vitro examination of specimens derived from the human body solely or principally to provide information for diagnostic, monitoring, or compatibility purposes. 

The Gulf Cooperation Council In-vitro Diagnostics Market is segmented by Technique (Histochemistry, Molecular Diagnostics, Hematology, Self-blood Glucose Testing, Immunochemistry, and Other Techniques), Product (Instrument, Reagent, and Other Products), Usability (Disposable IVD Device and Reusable IVD Device), Application (Infectious Disease, Diabetes, Cancer/Oncology, Cardiology, Autoimmune Disease, and Other Applications), End User (Diagnostic Laboratories, Hospitals and Clinics, and Other End Users), Diagnostic Approach (Point-of-Care Diagnostics, Centralized Laboratory-based, and Diagnostics). The report offers the value (in USD million) for the above segments.