UAE Diagnostic Labs Market to Grow with Impressive CAGR until 2027
UAE Diagnostic Labs Market is
anticipated to grow with increasing investments in the healthcare advancements,
in the forecast period, 2023-2027F.
According to TechSci Research report on, “UAE
Diagnostic
Labs Market - By Region, Competition
Forecast & Opportunities, 2027”,
UAE diagnostic labs market might register an impressive CAGR during the
forecast period, 2023-2027, to establish growth due to factors like developing
healthcare services in the country through technological advancements. Rising
demands for the early diagnosis such that timely and effective treatment can be
provided to the patients, is driving the growth of the UAE diagnostic labs
market in the upcoming five years.
The government of UAE is working actively toward
increasing the healthcare infrastructure. Rising number of technically advanced
diagnostic labs would further drive the growth of the UAE diagnostic labs
market in the next five years. Increasing instances of chronic diseases like
cardiovascular diseases, neurological diseases, cancer, etc. are also responsible
for the increasing demands for diagnosis and thereby supporting the growth of
the UAE diagnostic labs market in the future five years.
Increasing imports of advanced medical devices, and
growing manufacturing of diagnostic devices are also facilitating the growth of
the UAE diagnostic labs market in the forecast years through 2027. Growing
investment in the healthcare industry to provide excellent patient care and
higher research and innovative product development also substantiate the growth
of the UAE diagnostic labs market in the forecast period.
Impact of COVID-19 positively affected the UAE
diagnostic market in recent years. Although medical tourism in the country
halted due to strict regulations and precautionary steps from the UAE government.
In the times, the country acted rapidly and focused on local healthcare
services.
Development of hospitals, clinics, and standalone
diagnostic labs increased rapidly in the recent few years. This increase in the
numbers of diagnostic labs was further supported by the urgency for diagnostic
tests for the COVID-19 infections thereby aiding the growth of the UAE
diagnostic labs market in the forecast period.
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The UAE diagnostic labs market is segmented by
provider type, test type, end user, competitional landscape, and regional
distribution.
Based on provider type, the market is
differentiated between hospital based and stand-alone center providers.
Hospital based provider type, is anticipated to hold the largest revenue shares
of the market and dominate the market segment in the upcoming five years on the
account of increasing healthcare infrastructures in the country.
Rising number of multi-specialty hospitals, general
hospitals, etc. increase the demands for their own diagnostic labs to aid the
growing demands for the diagnosis. Early diagnosis demands, and timely report
analysis can be facilitated if the diagnostic labs are located in the hospital
premises itself. Also, growing patient burden over the hospitals also support
the growth of the UAE diagnostic labs market in the next five years.
Stand-alone diagnostic labs are also significantly
gaining the growth in their revenue shares in the future five years due to
increasing demands from the consumers. Rising awareness among the population
along with the concerns regarding diagnosis the diseases that have been in
their family history also facilitate the growth of the stand along labs. The
consumers opt for regular checkups and routine tests for the diagnosis thus
aiding the market growth in the forecast years.
By test type, the market is again divided between
radiology and pathology. Radiology segment may dominate the market segment and
hold the largest revenue shares of the market in the upcoming five years due to
increasing imaging tests for the diagnosis of diseases. Increasing demands for
the X-ray analysis, ultrasounds, MRIs, PET scans support the growth of the
radiology tests thereby supporting the growth of the UAE diagnostic labs market
in the next five years.
Moreover, technological advancements in the
radiography devices, diagnostic imaging techniques and surging demand for
highly defined imaging of the human body for the identification of disease,
trauma, or disorder also aid market growth. Increasing cases of cancer is also
one of the most important factors responsible for the growth of the UAE
diagnostic labs market in the forecast period.
Based on end user, the market is bifurcated into
corporate clients, walk-ins, and referrals.
A partial list of major market players of the UAE diagnostic
labs market includes:
·
Proficiency Healthcare Diagnostic Healthcare LLC
·
Freiburg Medical Laboratory Middle East LLC
·
Accuracy Plus Medical Laboratory
·
Dr. Lal Path Labs Dubai
·
Thumbay Labs
·
Unilabs Middle East L.L.C
·
Neuberg Diagnostics Lab
·
Life Diagnostics
·
SRL Diagnostics UAE
·
York Diagnostic Laboratories DMCC
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“Dubai and Abu Dhabi
regions of the country are anticipated to be the major regions of the growth of
the UAE diagnostic labs market. Dubai is the hub of diagnostic labs with
highest number of market players in the region. Abu Dhabi lies a close second
in the number of diagnostic labs available in the country. Moreover, the
regions are major tourist attractions, thus medical tourism further facilitates
the growing number of patients visiting the country for the healthcare
services. New market players may have to collaborate with the global giants
providing technologically advanced diagnostic devices to establish their labs
and promote it with favorable schemes from the government,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“UAE Diagnostic Labs
Market By Provider Type (Hospital-Based v/s Stand-alone Center), By Test Type
(Radiology v/s Pathology), By End User (Corporate Clients, Walk-ins,
Referrals), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future
growth potential of UAE diagnostic labs market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in UAE diagnostic labs market.
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