South Africa’s market for In-Vitro Diagnostics is currently estimated to be worth USD 0.86 billion in the year 2014 and is expected to reach USD 1.11 billion by the end of 2020. The CAGR during this period of the forecast is 5.32%.
Currently, North America dominates the global market, with the market yet to reach saturation. Middle East & Africa is an emerging market that has scope for growth and is expected to dominate the market in the future. This is due to the rising chronic disease patient pool and technological advances in the field of diagnostics. This escalation is developing the need to analyze, review and forecast the growth of the In-Vitro Diagnostics market.
South Africa In-Vitro Diagnostics Market-Market Dynamics
The report details several factors driving and restraining the growth of the market. Some of these are discussed below.
Some of the factors contributing to the growth of market are:
Some of the factors limiting the growth of the market are a lack of proper reimbursement policies and stringent regulatory framework.
The report studies in detail the market for different In-Vitro Diagnostic techniques, which include clinical chemistry, hematology, immunoassays, point of care diagnostics, molecular diagnostics and coagulation. The products sector includes instruments, reagents, and data management systems. Molecular diagnostics currently dominate the global market and are expected to dominate it in the near future also.
What the Report Offers