Middle East and Africa Medical Device and Diagnostics Contract Research Organization Market

Market Introduction

MEA medical devices and diagnostics contract research organization market is analyzed based countries such as Saudi Arabia, UAE, South Africa, and rest of MEA. Saudi Arabia accounts for the largest market share in the region. The growth of the medical devices and diagnostics contract research organization market is estimated to grow due to increasing number of the chronic conditions, increasing R&D expenditure by medical device companies, and rising technological advancements. In addition, developing healthcare facilities, and rising expansion by international companies is also expected to drive the growth of the market in the coming future.  

The countries in the MEA region have taken precautionary measures and imposed stringent regulations to control the spread of COVID-19. Countries such as the UAE, Saudi Arabia, Jordan, Iraq, and Iran have strictly imposed lockdown. Most of the countries in the region are dependent on the other regions for medical devices and other products. As a result of the COVID-19 crisis, the World Bank forecasted that remittances to the MENA region are projected to fall sharply by 19.6%, after a total of US$ 42 billion in 2020 after a 2.6% increase in 2019. MENA countries and the global community also have a role to play in tackling COVID-19. For the first time in decades, MENA countries are facing a common issue with no political or religious agenda. The current medical device outsourcing markets in the MEA region vary greatly between different nations. Medical affairs play a pivotal role in overcoming barriers to accessing healthcare professionals (HCPs). Moreover, compliance requirements mean medical affairs is responsible for providing healthcare providers with real-time, unbiased

,

and transparent medical information in the MEA. However, owing to the imposition of lockdowns and factory shutdowns, the medical devices and diagnostics contract research organization market was negatively impacted.        

Middle East and Africa Medical Device and Diagnostics Contract Research Organization Strategic Insights

Strategic insights for the Middle East and Africa Medical Device and Diagnostics Contract Research Organization provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East and Africa Medical Device and Diagnostics Contract Research Organization Report Scope

Middle East and Africa Medical Device and Diagnostics Contract Research Organization Regional Insights

The geographic scope of the Middle East and Africa Medical Device and Diagnostics Contract Research Organization refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Market Overview and Dynamics

The medical device and diagnostics contract research organization market in MEA is expected to grow from US$ 416.23 million in 2021 to US$ 641.54 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028. Rest of MEA include countries such as, Israel, Iran, Iraq, Kuwait, Oman, Egypt, Kenya, and other countries. The medical devices and diagnostics contract research organization in MEA region is gaining significant traction owing to various factors that include government funding for introduction of new medical devices and systems, evolution of healthcare insurance policies, increasing awareness among people with respect to remote monitoring and rising advent of wearable medical devices. Iran, Israel, Egypt along with Saudi Arabia and UAE are some of the major contributors to the fast-growing healthcare industry in the region. Geriatric care through advanced medical devices and diagnostics contract research organization may help to prevent the deaths and improve the quality of health among people in the region. However, budget constrains in underdeveloped nations of Africa such as Nigeria and Syria that does not have sufficient funds for provision of such an advanced healthcare facility are likely to hinder the market growth to a certain extent.

Key Market Segments

The MEA medical device and diagnostics contract research organization market is segmented into type, services, and country. Based on type, the MEA medical device and diagnostics contract research organization market is segmented into medical devices and diagnostic. Diagnostic segment is further sub-segmented into cardiac biomarkers, diabetes management, oncology, infectious diseases, hematology, chemistry and immunoassays, molecular diagnostics, and others. The medical devices segment held the largest share of the market in 2020. Based on services, the MEA medical device and diagnostics contract research organization market is segmented into clinical data management, monitoring, clinical project management, medical writing, clinical auditing, digital health, clinical strategy, and others. The clinical data management segment held the largest share of the market in 2020. Based on country MEA medical device and diagnostics contract research organization market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the medical device and diagnostics contract research organization market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Charles River Laboratories, Inc; ICON PLC; IQVIA; PAREXEL International Corporation; and Qserve Group B.V.       

Reasons to buy report

• To understand the MEA medical device and diagnostics contract research organization market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA medical device and diagnostics contract research organization market.
• Efficiently plan M&A and partnership deals in MEA medical device and diagnostics contract research organization market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA medical device and diagnostics contract research organization market.
• Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.

MEA

Medical Device and Diagnostics Contract Research Organization Market

Segmentation

MEA Medical Device and Diagnostics Contract Research Organization Market -

By Offering

• Hardware
• Services

MEA Medical Device and Diagnostics Contract Research Organization Market - By

Type

• Unmanned Self-Service Automated Tollbooth Collection System
• Unmanned Automated Toll Booth Collection System
• Unmanned Wireless Automated Toll Booth Collection System

MEA Medical Device and Diagnostics Contract Research Organization

Market - By Country

• Saudi Arabia
• South Africa
• UAE
• Rest of MEA

MEA Medical Device and Diagnostics Contract Research Organization Market - Company Profiles

• Charles River Laboratories, Inc
• ICON PLC
• IQVIA
• PAREXEL International Corporation
• Qserve Group B.V.