Market Trends of Saudi Arabia In-vitro Diagnostics Industry
Clinical Chemistry is Expected to Show Good Growth Over the Forecast Period
Clinical chemistry assays are a vital component of in-vitro diagnostic testing. These assays use various biochemical techniques to analyze bodily fluids such as blood, urine, and cerebrospinal fluid to determine the presence of specific substances such as electrolytes, enzymes, lipids, and hormones. Moreover, the advancements in clinical chemistry assays, such as automation, point-of-care testing, and the development of novel biomarkers, have increased the accuracy, sensitivity, and specificity of these assays, making them an essential tool for diagnosing and managing various medical conditions.
The factors like high incidences of several disease conditions, such as cancer, diabetes, and cardiovascular disease; infectious diseases, such as tuberculosis, malaria, and influenza; hormonal disorders, and others are driving the demand for the sampling of body fluids for precise diagnostics outcomes. This increases the adoption rate of clinical chemistry diagnostics and assay techniques and supports the segment's growth. For instance, as per the data published by Hindawi in April 2022, the estimated prevalence of anemia among the people in Makkah, a city in Saudi Arabia, was 38.7%, and it was more prevalent among the female population. Also, according to a research study published by MDPI in December 2022, the prevalence of non-alcoholic fatty liver disease among the general population of Saudi Arabia was 16.6%. This high prevalence of critical disorders is augmenting the adoption of several body fluid assay techniques and subsequently increasing the demand for clinical chemistry. With the recent technological advancements in assay systems and the increasing applications of biomarkers, the accuracy and yield of clinical chemistry-based diagnostic tests have improved.
Further, with the increasing initiatives by public and private organizations to develop the application of clinical chemistry, the segment is anticipated to hold a significant market share. For instance, in December 2021 Saudi Society for clinical chemistry organized the 3rd Internation Meeting Clinical Chemistry and Laboratory Medicine to widen the area of expertise in clinical chemistry. Thus, the abovementioned factors are expected to increase the segment's growth.
Instrument Segment is Anticipated to have a Significant Market Share During the Study Period
Instruments play a crucial role in in-vitro diagnostics (IVD) as they enable the accurate and reliable analysis of biological samples such as blood, urine, and tissue samples. Some commonly used instruments in IVD diagnostics include analyzers, microscopes, polymerase chain reaction machines, flow cytometers, and mass spectrometers.
Increasing investment in Saudi Arabia's healthcare facilities by the Government and other private organizations is one of the prime factors for the significant contribution of the instrument segment in the market. Increasing investment by the Government is enhancing the advancement of healthcare infrastructure, resulting in many introductions of healthcare facilities in Saudi Arabia. This is fostering the adoption rate of advanced diagnostic equipment, such as in-vitro diagnostic instruments in Saudi Arabia, and supporting the growth of the devices. For instance, according to a report by International Trade Administration in July 2022, the Saudi Arabian Government planned to spend USD 36.8 million on healthcare and social development. Also, according to the same source, it was mentioned that as part of Vision 2030, the Saudi Arabian Government intends to allocate more than USD 65 billion towards enhancing the country's healthcare infrastructure. Furthermore, it plans to raise the private sector's involvement from 40% to 65% by 2030, to privatize 290 hospitals and 2,300 primary health centers.
Also, according to the above source, the Saudi Arabia government is encouraging local medical instrument manufacturers by offering financial incentives to manufacture high-value medical products. This includes various instruments, including Covid-19 testing kits, diagnostic equipment, and electro-medical equipment. This also results in the higher availability of in-vitro diagnostic equipment, hence increasing adoption.
Thus, the increased investment in the healthcare infrastructure, the privatization of hospitals and primary healthcare centers in Saudi Arabia, and the increased focus on local manufacturing of medical instruments are fueling the demand and adoption of advanced in-vitro diagnostic instruments and supporting segmental growth.
