Report : Middle East and Africa Acetaminophen Reagents Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Antibody/Substrate Reagent, Enzyme Reagent, Acetaminophen Antiserum, Acetaminophen Fluorescein Tracer, and Pretreatment Solution), Application (Enzymatic Assays and Immunoassay), and End User (Hospitals, Diagnostics Laboratories, POC Testing, Forensic Laboratories, and Others)
Enzyme Reagent Segment is Expected to be Fastest Growing During Forecast Period for MEA Region
According to a new market research study on “MEA Acetaminophen Reagents Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User” is expected to reach US$ 36.54 million by 2028 from US$ 27.88 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the MEA acetaminophen reagents market along with the drivers and restraints pertaining to the market growth. Availability of limited players present in the market and growing technological advancements in immunoassay-based acetaminophen reagents are the major factor driving the growth of the MEA acetaminophen reagents market. However, risk of ADHD and other complication in pregnancy hinder the growth of MEA acetaminophen reagents market.
In case of COVID-19, MEA is highly affected especially South Africa. Countries in the MEA have also widely affected the socio-economic condition by the COVID–19 pandemic. This challenge would be particularly frightening for the region's fragile and conflict-torn states, such as Iraq, Sudan, South Africa, and Yemen, because it will result in reduced imports due to global trade disruptions, which will exacerbate shortages of medical supplies and other goods, resulting in significant price rises. The Middle East countries have registered a growth in the number of COVID cases. The MEA region include countries such as South Africa, the UAE, and Saudi Arabia. These countries have also registered a significant number of positive coronavirus infection cases. These regions are developing in terms of the pharmaceutical industry. The countries in these regions are highly dependent on pharmaceutical products imported from developed countries. For instance, in April 2020, the government leveraged approvals for hydroxychloroquine and paracetamol export to expedite import of Covid-19 rapid testing kits, masks and personal protection equipment, or PPE. The lockdown has affected the supply chain of various companies in these regions. However, as the crisis continues and government relaxations on the import of the pharmaceutical products are expected to witness sluggish growth for a few years.
The MEA acetaminophen reagents market has been segmented based on product, application, end user, and country. Based on product, the market has been segmented into antibody/substrate reagent, enzyme reagent, acetaminophen antiserum, acetaminophen fluorescein tracer, and pretreatment solution. The antibody/substrate reagent segment dominated the market in 2020 and enzyme reagent segment is expected to be fastest growing during forecast period. Based on application, the market has been segmented as enzymatic assays and immunoassay. The enzymatic assays segment dominated the market in 2020 and immunoassay segment is expected to be fastest growing during forecast period. Based on end user, the market has been segmented into hospitals, diagnostics laboratories, POC testing, forensic laboratories, and others. The hospitals segment dominated the market in 2020 and diagnostics laboratories segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
Abbott; American Screening Corporation, Inc.; Beckman Coulter, Inc.; Bio-Rad Laboratories, Inc.; Biorbyt Ltd.; Randox Laboratories, Ltd.; Siemens Healthineers AG; and Thermo Fisher Scientific Inc. are among the leading companies in the MEA acetaminophen reagents market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Thermo Fisher Scientific, the world leader in serving science, has announced a collaboration with Ortho Clinical Diagnostics to promote and distribute Thermo Scientific MAS Quality Controls and LabLink xL Quality Assurance Software for use with Ortho Clinical Diagnostics VITROS analyzers.
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