The UAE in-vitro diagnostics (IVD) devices market was worth US$ 283 Million in 2017. The market is further projected to reach a value of nearly US$ 501 Million by 2023, at a CAGR of 10% during 2018-2023. In-vitro diagnostics (IVD) plays a crucial role in diagnosing and detecting various diseases in the human body. It involves testing of samples, such as blood, urine, tissue, etc., using analytical devices which aid in confirming the presence of acute as well as chronic diseases. In order to meet the needs of its growing population, the UAE Government is rapidly investing in the expansion of its healthcare sector, in turn, creating a huge demand for in-vitro diagnostics devices. The market is also being supported by the exemption of tariffs on the imports of medical devices.
UAE In-Vitro Diagnostics (IVD) Devices Market Drivers:
- Due to the increasing cases of chronic diseases and growing geriatric population, there has been a rise in the initiatives by health authorities emphasizing preventive care through regular checkups, which are promoting the sales of in-vitro diagnostics devices in the UAE.
- On account of the rising awareness regarding health and wellness, and growing trend of self-care among the people, there has been an increase in the number of independent diagnostic laboratories which offer affordable health packages.
- Expanding and affordable healthcare has made the UAE an attractive medical tourism destination in the GCC region. The subsequent development and upgradation of healthcare facilities have created a heightened demand for in-vitro diagnostic devices in the country.
- Introduction of advanced in-vitro diagnosis technology is projected to create positive growth prospects for the market as the medical community in the country is focusing on providing patients with enhanced diagnostic capabilities.
Breakup by Application:
On the basis of application, the market has been segmented into infectious diseases, diabetes, blood test, nephrology, cardiology, oncology, autoimmune diseases and others.
Breakup by End-User:
Based on end-user, the report finds that hospital-based centers currently represent the leading end-user of in-vitro diagnostics devices in the UAE. Hospital-based centers are followed by diagnostics chains, standalone centers and others (patient self-testing, academic institutes, etc.)
The manufacturing of in-vitro diagnostics devices is at the nascent stage in the UAE, owing to which the country is largely dependent on imports. The report also provides the profiles of key players operating in this market.
This report provides a deep insight into the UAE in-vitro diagnostics (IVD) devices market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the UAE in-vitro diagnostics (IVD) devices market in any manner.
Key Questions Answered in This Report:
- How has the UAE in-vitro diagnostics (IVD) devices market performed so far and how will it perform in the coming years?
- What are the key application segments in the UAE in-vitro diagnostics (IVD) devices market?
- What are the major end-users in the UAE in-vitro diagnostics (IVD) devices market?
- What are the various stages in the value chain of the UAE in-vitro diagnostics (IVD) devices market?
- What are the key driving factors and challenges in the UAE in-vitro diagnostics (IVD) devices market?
- What is the degree of competition in the UAE in-vitro diagnostics (IVD) devices market?