Middle East and Africa Laboratory Developed Test Market

Market Introduction

A laboratory developed test (LDT) is a type of in vitro diagnostic test that is designed and used within a single laboratory. These tests can be utilized to estimate or distinguish an extensive assortment of analytes materials such as proteins, chemical compounds like glucose or cholesterol, or DNA, from a specimen received from human anatomy. The expansion of automated in vitro diagnostics (IVD) methods for labs and dispensaries to render precise, and error-free analysis is anticipated to fuel the increment.

Market Overview and Dynamics

The Middle East and Africa laboratory developed test market is expected to reach US$ 869.59 million by 2028 from US$ 577.05 million in 2021; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028. The continuous research on personalized medicine and rising automation of laboratory processes across the globe are factors propelling the laboratory developed testing market. However, the changing regulatory landscape is hampering the growth of the Middle East and Africa laboratory development test market.

LDTs play a vital role in developing personalized medicines that are likely to prove as promising means of tackling diseases through far eluded effective treatments or cures. As per the Personalized Medicine Coalition, personalized medicines accounted for only 5% of the new FDA-approved molecular entities in 2005; however, in 2016, this number rose to more than 25%. Additionally, 42% of all compounds and 73% of oncology compounds in the pipeline have the potential to serve as personalized medicines. Biopharmaceutical companies have nearly doubled their R&D investments in personalized drugs in the last five years across the globe. They are further expected to increase their investments by 33% in the next five years. Biopharmaceutical researchers also predict a 69% increase in the development of personalized medicines in the next five years. Personalized medicines are becoming the trademark of cancer treatment; it is a constantly emerging approach based on the customization of treatments per the individual genetic structure. In 2019, the FDA approved 12 personalized medications to investigate and address the root causes of disease: thus, combining precision medicine in clinical care. The rising demand for personalized medicine is, therefore, offering significant growth opportunities for the players operating in the MEA laboratory developed test market. Also, automation is emerging as an approach to minimize human involvement in laboratory processes boosting market growth.

Economic uncertainties and ongoing conflicts are worsening the condition in the Middle East. For instance, countries such as Syria, Libya, and Yemen are suffering violent conflict and are unable to implement any public health measures. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage are significant impacts observed in the region. Additionally, tightened financial condition is decreasing the economic activities in Middle East. Thus, negatively impacting the growth of the laboratory developed test in the region.

Key Market Segments

The Middle East and Africa laboratory developed test market, by type, is segmented into clinical biochemistry, critical care, haematology, microbiology, molecular diagnostics, immunology, and other test types. The haematology segment was sub-segmented into coagulation and hemostasis, hemoglobin testing, blood count testing and others. The molecular diagnostics segment held the largest share of the market in 2021. However, the haematology segment is anticipated to register the highest CAGR during the forecast period.

The Middle East and Africa laboratory developed test market, by application, is segmented into academic institutes, clinical research organizations, hospitals laboratory, specialty diagnostic centers, and others. The hospitals laboratory segment held the largest share of the market in 2021. However, the specialty diagnostic centers segment is anticipated to register the highest CAGR during the forecast period.

Major Sources and Companies Listed

A few of the primary and secondary sources referred to while preparing the Middle East and Africa laboratory developed test market report are the South Africa Medical Devices Association (SAMED), SA Health Products Regulatory Authority (SAHPRA), and International Agency for Research on Cancer (IARC).

Reasons to buy the report

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• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
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MIDDLE EAST AND AFRICA LABORATORY DEVELOPED TEST MARKET SEGMENTATION

By Type

• Clinical Biochemistry
• Critical Care
• Haematology

• • Coagulation and Hemostasis,
  • Hemoglobin Testing
  • Blood Count Testing
  • Others

• Immunology
• Microbiology
• Molecular Diagnostics
• Other Test Types

By Application

• Academic Institutes
• Clinical Research organizations
• Hospitals laboratory
• Specialty Diagnostic Centers
• Others

By Country

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East and Africa

Company Profiles

• Quest Diagnostics Incorporated
• F. HOFFMANN-LA ROCHE LTD.
• QIAGEN
• Illumina, Inc.
• Rosetta Genomics Ltd.

Middle East and Africa Laboratory Developed Test Market Strategic Insights

Middle East and Africa Laboratory Developed Test Market Segmentation Analysis

Middle East and Africa Laboratory Developed Test Market Report Highlights

Middle East and Africa Laboratory Developed Test Report Scope

Middle East and Africa Laboratory Developed Test Market Country and Regional Insights