The Middle East & Africa hematology analyzers and reagents market is expected to reach US$ 541.13 million by 2027 from US$ 340.66 million in 2019. The market is estimated to grow at a CAGR of 6.0% from 2020 to 2027.
The growth of this market can be attributed to key driving factors, such as increasing demand for organ transplantation and blood transfusion and rising need for point-of-care systems. However, the market growth is likely to be hindered owing to the concerns associated with products and high cost of hematology analyzers and reagents.
The demand for hematology analyzers and reagents is growing significantly, which can be attributed to increasing preference for hematology testing during transplantation. Rising demand for blood and blood components provides a spur to the growth of the hematology analyzers and reagents market. In recent times, regenerative medicine and hematology analyzers and reagents have hold a promising future in rising demand for blood transfusions and increasing incidence of patients suffering from blood disorders. This has opened many doors to providing better treatments and potential cure for blood disorders. In 2017, the Saudi Cancer Registry stated that leukemia was ranked 5th among cancers in both genders of all ages in the Saudi population. The overall prevalence of leukemia was 7.6% in males and 4.4% in females in the Saudi population.
Furthermore, the Saudi Center of Organ Transplantation and Middle East Society for Organ Transplantation have reported an urgent need for organ transplantations in this region which is expected to offer significant opportunities to the Hematology Analyzers and Reagents market. Moreover, South Africa has higher prevalence of renal failures. According to the Department of Surgery, Groote Schuur Hospital, Cape Town, South Africa, it is estimated that more than 5,000 patients with end-stage renal failure and more than 2,500 of these patients are awaiting transplantation. Liver transplantation has also become more common over the last ten years; hospitals such as Donald Gordon are expanding their liver transplantation program. Awaiting transplantation needs hematology testing, which demands hematology analyzers and reagents. This is expected to offer significant opportunities for the hematology analyzers and reagents market.
Countries, such as the UAE and Saudi Arabia, have also registered a significant number of Covid-19 positive patients. These regions are developing in terms of the medical industry. The countries in these regions are highly dependent on medical devices and pharmaceutical products. The coronavirus has shown substantial effects in the Middle East & Africa. The coronavirus pandemic has become the largest challenge to this region, as they are low income developing regions. For instance, due to high uncertainty of the spread of COVID-19, the impact on Africa is expected to be severe, given the continent’s exposure to China. COVID-19 has spread across several countries, including Cameroon, Egypt, Algeria, Morocco, South Africa, Togo, Nigeria, Senegal, and Tunisia. Due to the weak healthcare system in the region, COVID-19 has widely spread across Africa. Due to the necessity of laboratory capacity and medical supplies, the detection of the virus in African countries is a challenge. To defeat this challenge, the World Health Organization (WHO) helped 36 African countries with virus testing kits. Also, it is training health workers in Africa and providing them personal shielding equipment. Healthcare share prices are expected to fall because of China’s place in the global medical supply chain.
Based on product and service, the Middle East & Africa hematology analyzers and reagents market is segmented into hematology products and services, hemostasis products and services, and immunohematology products and services. The hematology products and services segment is further divided into instruments, reagents and consumables, and services. The hemostasis products and services segment is further divided into instruments, reagents and consumables, and services. The immunohematology products and services segment is further divided into instruments, reagents and consumables, and services. The hematology products and services segment held the largest market share in 2019, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the Middle East & Africa hematology analyzers and reagents market is categorized into anemia, blood cancer, hemorrhagic conditions, infection related conditions, immune system related conditions, and others. The anemia segment held a larger market share in 2019, whereas the blood cancer segment is anticipated to register a higher CAGR in the market during 2020–2027.
Based on end user, the Middle East & Africa hematology analyzers and reagents market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research and academic institutes. In 2019, the hospital laboratories segment held the largest share of the market, and the same segment is anticipated to register the highest CAGR in the market from 2020 to 2027.
Primary and secondary sources referred to while preparing the report on the Middle East & Africa hematology analyzers and reagents market include The Saudi Center of Organ Transplantation and The Saudi Cancer Registry.