Saudi Arabia Diagnostic Labs Market Research Report 2021-2027

Posted by arshiyashaikh on February 16th, 2022

Market Reports on Saudi Arabia Provides the Trending Market Research Report on Saudi Arabia Diagnostic Labs Market, By Provider Type (Hospital Based v/s Stand Alone), By Test Type (Radiology v/s Pathology), By End User (Referrals, Walk-ins, Corporate Clients), By Region, Competition Forecast & Opportunities, 2027 under Life Sciences Market Research Reportscategory. The Diagnostic Labs Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.

Saudi Arabia Diagnostic Labs Market is valued at USD1546.81 million in 2021 and is expected to grow at a CAGR of 6.79% to reach a value of USD2339.67 million by 2027. Increasing healthcare expenditure by the government, rise in the number of laboratories, and surge in awareness among consumers about the benefits of preventive healthcare are the primary factors driving the demand for Saudi Arabia Diagnostic Labs market during the forecast period.

The rise in the efforts of the government to lower the dependency on the oil & gas industry and generate new revenue sources has led to huge investments for the development of the healthcare sector in the country. Also, owing to the increasing disposable income of the consumers, the demand for quality healthcare services is expected to grow. The outbreak of COVID-19 accelerated the growth of the Saudi Arabia Diagnostic Labs market to test the presence of novel coronavirus; preliminary and blood tests were in demand among the patients. The growing prevalence of cardiovascular diseases, gastrointestinal disorders, renal disorders, cancer, and other diseases requires laboratory tests to detect their presence and find a suitable treatment to cure the diseases efficiently. Moreover, people in the country are becoming aware of the ill effects of infectious diseases and are taking the help of diagnostic tests to remain healthy. Also, the rise in the geriatric population in the country who are prone to many diseases is further expected to accelerate the demand for the Saudi Arabia Diagnostic Labs market in the forecast period.

The Saudi Arabia Diagnostic Labs market is segmented based on provider type, test type, end user, company, and regional distribution. Based on provider type, the market is divided into Hospital Based and Stand Alone. Hospital Based is expected to hold the largest market share in the forecast period owing to the huge footfall of patients in hospital facilities and the huge expenditure on diagnostic labs in hospitals. The presence of skilled healthcare professionals, specialized departments, and costly equipment in hospital laboratories is also driving the segmental growth.

The major players operating in Saudi Arabia Diagnostic Labs market are Al Borg Medical Laboratories, Delta Medical Laboratories, Al-Farabi Medical Laboratories, Alfa Medical Laboratories, Medical Diagnostic Labs, Roya Specialized Medical Laboratories, Tibyana Medical Laboratories, Al Hyatt Medical Laboratory Company, Advanced Cell Laboratory for Medical Analysis Company, and Al-Arab Medical Laboratories.

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