GCC In-Vitro Diagnostic Devices Market Plays Vital Role in Healthcare Industry

In-vitro diagnostic (IVD) devices refer to medical instruments that are used to perform tests using biological samples, such as blood, urine or tissue, taken from the human body. They are available in a wide variety, ranging from simple tests to sophisticated DNA analyzers, including calibrators, kits, software, reagents, control materials and other related instruments.

IVD devices play a vital role in the GCC healthcare industry as they are crucial in the diagnosis of various medical conditions and infections, and monitoring drug therapies.

As per the WHO, about 60% of deaths in the GCC countries are caused due to non-communicable diseases, such as diabetes, cancer and cardiovascular dysfunction. According to the latest report by IMARC Group, titled “GCC In-vitro Diagnostic Devices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the GCC in-vitro diagnostic devices market size reached $969 Million in 2019.

According to the latest report by IMARC Group, titled “GCC In-vitro Diagnostic Devices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the GCC in-vitro diagnostic devices market size reached $969 Million in 2019. 

Market Trends: 

As per the WHO, about 60% of deaths in the GCC countries are caused due to non-communicable diseases, such as diabetes, cancer and cardiovascular dysfunction.

This has compelled governments of GCC countries to take initiatives to improve the healthcare services in the region.

Some of these initiatives are aimed at investing in improved IVD devices, which are more accurate and efficient in executing diagnostic tests.

This, along with the expanding insurance coverage under national health insurance programs, such as the Mandatory Health Insurance (MHI) schemes, to provide better and easy access to diagnostic devices, are boosting the sales of IVD devices across the region.

Owing to these factors, the market value is projected to reach $1,351 Million by 2025, expanding at a CAGR of 5.6% during 2020-2025.

The growing spread of the coronavirus disease (COVID-19) in the GCC countries has significantly boosted the market growth, as the World Health Organization (WHO) has listed two IVD tests for emergency use during the pandemic.

The growing spread of the coronavirus disease (COVID-19) in the GCC countries has significantly boosted the market growth, as the World Health Organization (WHO) has listed two IVD tests for emergency use during the pandemic.

These tests include the cobas SARS-CoV-2 Qualitative assay and Real-Time PCR Coronavirus (COVID-19).

Additionally, the rising incidences of chronic diseases and the growing geriatric population are further driving the demand for IVD devices. 

Market Segmentation: 

On the basis of type tha market breakup into into patient self-testing, hospital-based centers, diagnostics chains, standalone centers and academic institutes.

Amongst these, in-vitro diagnostic devices are majorly used in hospital-based centers.

Based on the application, the market breakup into infectious diseases, nephrology, cardiology, diabetes, blood test, oncology and autoimmune diseases.

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