Infectious Disease Testing Products Segment is Expected to be Fastest Growing During Forecast Period for MEA Region
According to The Insight Partners market research study on “MEA Point of Care Diagnostics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Prescription Mode, and End User” is expected to reach US$ 5,433.77 million by 2028 from US$ 2,484.03 million in 2021. The market is estimated to grow at a CAGR of 11.8% from 2021 to 2028. The report provides trends prevailing in the MEA point of care diagnostics market along with the drivers and restraints pertaining to the market growth. Growth in the use of home-based poc devices and rising number of conferences and events are the major factor driving the growth of the MEA point of care diagnostics market. However, rising product recalls in market hinders the growth of MEA point of care diagnostics market.
In case of COVID-19, MEA is highly affected specially Turkey. Economic uncertainties and ongoing conflicts are worsening the condition in the region. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflict and cannot implement any public health measures. Iran was in deep economic recession due to the US sanctions. Also, the major source of economic stabilization in Middle East countries is oil production and export. However, the recent pandemic is causing turbulence to the economies of the Middle East region. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage, are major impacts observed in the region. The Saudi government policies are favored of domestic pharmaceutical manufacturers including not any import duties on raw materials & intermediate products and interest-free funding support the growth of the pharmaceutical market in this region. Similarly, increasing incidence of COVID-19 create huge demand for kits and reagent used in detection of covid-19 virus. In April 2020, BGI Group, a Chinese genomics company, and Group-42, a UAE technology company, unveiled a new massive-throughput laboratory in the UAE to help with testing and diagnosis of the novel coronavirus. According to BGI, the lab will use RT-PCR diagnostic kits that have been approved by medical regulatory authorities in China, Europe, the United States, and Japan. As point of care diagnostics kits are majorly used in detection of novel coronavirus, so there was high impact of covid-19 on the point of care diagnostics market.
The MEA point of care diagnostics market has been segmented into the product, prescription mode, end user, and country. Based on product, market has been segmented into the glucose monitoring products, infectious disease testing products, cardiometabolic testing products, pregnancy and fertility testing products, coagulation testing products, tumor/cancer marker testing products, cholesterol testing products, urinalysis testing products, hematology testing products, and other poc products. The glucose monitoring products segment dominated the market in 2020 and infectious disease testing products segment is expected to be fastest growing during forecast period. The infectious disease testing products segment has been further bifurcated into the HIV testing, influenza testing, sexually transmitted disease (STD) testing, hepatitis C testing, healthcare-associated infection (HAI) testing, tropical disease testing, respiratory infection testing, and other infectious disease testing. Based on prescription mode, market has been segmented into the prescription-based testing and OTC testing. The prescription-based testing segment dominated the market in 2020 and is also expected to be fastest growing during forecast period. Based on end user, market has been segmented into the professional diagnostic centers, home care, research laboratories, and others. The professional diagnostic centers segment dominated the market in 2020 and home care segment is expected to be fastest growing during forecast period. The professional diagnostic centers is further segmented into the hospitals, clinical laboratories, outpatient healthcare, and ambulatory care settings.
Abbott; BD; bioMerieux SA; BIO-RAD LABORATORIES INC.; Danaher; F. HOFFMANN-LA ROCHE LTD.; Johnson and Johnson Services, Inc.; Nova Biomedical; Polymer Technology Systems, Inc. (PTS); and Siemens AG are among the leading companies in the MEA point of care diagnostics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Roche launched the VENTANA pan-TRK Assay, the first automated IVD immunohistochemistry (IHC) assay to detect tropomyosin receptor kinase (TRK) proteins in cancer. The launch has helped in improvising cancer diagnostics.
The Report Segments the MEA Point of Care Diagnostics Market as Follows:
MEA Point of Care Diagnostics Market – By Product
- Glucose Monitoring Products
- Infectious Disease Testing Products
- HIV Testing
- Influenza Testing
- Sexually Transmitted Disease (STD) Testing
- Hepatitis C Testing
- Healthcare-Associated Infection (HAI) Testing
- Tropical Disease Testing
- Respiratory Infection Testing
- Other Infectious Disease Testing
- Cardiometabolic Testing Products
- Pregnancy and Fertility Testing Products
- Coagulation Testing Products
- Tumor/Cancer Marker Testing Products
- Cholesterol Testing Products
- Urinalysis Testing Products
- Hematology Testing Products
- Other POC Products
MEA Point of Care Diagnostics Market – By Prescription Mode
- Prescription-Based Testing
- OTC Testing
MEA Point of Care Diagnostics Market – By End User
- Professional Diagnostic Centers
- Hospitals
- Clinical Laboratories
- Outpatient Healthcare
- Ambulatory Care Settings
- Home Care
- Research Laboratories
- Others
MEA Point of Care Diagnostics Market – By Country
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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