Saudi Arabia In-vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

Saudi Arabia's in-vitro diagnostics market is expected to register a CAGR of 3.5% during the forecast period (2022-2027).

In the initial days of the pandemic, the kingdom of Saudi Arabia was in lockdown and suspended trade with other countries, and implemented travel restrictions, which has led to a decline in medical diagnoses in the first half of 2020. Various research studies were published to provide insight into the effect of the pandemic on the studied market. For instance, in July 2020, a research study published titled "Covid-19 pandemic outburst in Saudi Arabia: A glimpse" stated that enormous measures such as complete shutdown, quarantine, and lockdowns have already been taken worldwide to prevent the covid-19 virus spread. Thus, due to these measures, market growth was hindered initially. However, the increase in Covid-19 patients and surge in diagnostics requirements in the diagnostic centers, clinics, hospitals as well as mobile clinics have increased during the pandemic. This has created considerable demand for in vitro diagnostics in Saudi Arabia. Owing to the vast opportunities in this region, key players have been coming up with market development strategies to leverage it. In June 2021, G42 Healthcare and Seegene Inc. signed a Memorandum of Understanding (MoU) to offer fully equipped mobile diagnostics and testing laboratories across the Middle East and North African region, including Saudi Arabia. Thus, the market has positive growth during the pandemic.

The high burden of chronic diseases such as diabetes, cancer, cardiovascular diseases, and infectious diseases is expected to be a major driving factor for the in-vitro diagnostics market in Saudi Arabia as in-vitro diagnostics techniques are used in the diagnosis and monitoring of these disease. For instance, according to the November 2021 report of the World Bank on the prevalence of noncommunicable diseases in Saudi Arabia, 185,500 new cases of cardiovascular disease, 303,500 new cases of chronic respiratory illness, and 2.1 million new cases of cancer (of all sorts). Further, as per the 2021 report of the International Diabetes Federation (IDF), the burden of diabetes in Saudi Arabia is expected to increase from 4.3 million in 2021 to 7.5 million by 2045 and thus, owing to the high and increasing burden of chronic diseases in Saudi Arabia, the demand for in-vitro diagnostics products is expected to increase in the country which is anticipated to fuel in-vitro diagnostics market in Saudi Arabia.

Similarly, increasing initiatives by the key market players are increasing the market growth. For instance, in February 2020, Ortho Clinical Diagnostics launched the VITROS XT 3400 Chemistry System, which completes the company's VITROS XT Solutions, a suite of solutions for clinical diagnostics laboratories to obtain consistently fast, accurate, and reliable results. The VITROS XT 3400 is available in several countries in the Middle East, including Saudi Arabia. Thus, such product launches are expected to increase the market growth.

However, uncertain reimbursement policies are expected to hinder market growth.

Scope of the Report

As per the scope of this report, in-vitro diagnostics involves medical devices and consumables that are utilized to perform in vitro tests on various biological samples. They are used for the diagnosis of various medical conditions, such as diabetes originated complications and cancer. The Saudi Arabia In-vitro Diagnostics Market is segmented by Test Type (Clinical Chemistry, Molecular Diagnostics, Immuno Diagnostics, Haematology, and Other Types), Product (Instrument, Reagent, Other Product), Usability ( Disposable IVD Device and Reusable IVD Device), Application (Infectious Disease, Diabetes, Cancer/Oncology, Cardiology, Autoimmune Disease, Nephrology, Other Applications), and End-User (Diagnostic Laboratories, Hospitals and Clinics, and Other End-users). The report offers the value (in USD million) for the above segments.

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Key Market Trends

Clinical Chemistry is Expected to Show Good Growth Over the Forecast Period

Clinical chemistry assays and devices deal with the study of antigen-antibody structures, biosynthesis of antibodies, antigen-antibody reactions, immunoassays, structure and properties of immune hormones, and preparation and use of monoclonal antibodies.

The factors like increasing incidences of chronic diseases such as cancer are driving the growth of the market. For instance, as per the data published by Globocan in 2020, the incidence of cancer was found to be 27,885, whereas the five-year prevalence was found to be 82,640. The most common type of cancer was colorectum, breast, thyroid, non-Hodgkin lymphoma, and leukemia. The high burden of cancer in this region indicates the high demand for the immune diagnostics segment and is propelling the growth of the clinical chemistry segment market. With the recent technological advancements in the assay systems as well as the increasing applications of biomarkers, the accuracy and yield of clinical chemistry-based diagnostic tests have improved. To fuel the advancement in the country, the key market players are signing agreements to increase their product portfolio. For instance, to expand the use of distributable next-generation sequencing (NGS) based tests in oncology, Roche and Illumina signed a 15-year, non-exclusive partnership agreement in January 2020. Given the presence of both businesses in the nation, this is anticipated to be introduced there as well and is anticipated to spur market expansion. Thus, the abovementioned factors are expected to increase market growth.

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