Hyderabad, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “South Africa In-Vitro Diagnostics Services Market Report (2023-2028),” the market is estimated at USD 1.39 billion in 2023. It is expected to register a CAGR of 5.01% during the forecast period.
The outbreak of COVID-19 positively impacted the in-vitro diagnostics market, as in-vitro diagnostics involved the testing of various biological samples. The market studied is expected to grow at a good rate over the forecast period. This growth is majorly attributed to the rising burden of chronic diseases and infectious diseases in South Africa, snowballing the use of point-of-care diagnostics in the country, and technological advancements that are being made in the diagnostics market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.39 billion |
| Market Size (2028) | USD 1.78 billion |
| CAGR (2023-2028) | 5.01% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The rising burden of chronic diseases and infectious diseases in South Africa. |
| The use of advanced technologies in the IVD market. |
Who are the Top Companies in the South Africa In-Vitro Diagnostics Services Market?
The market is fragmented in nature due to the rising investment of global companies in South Africa. The country shows several opportunities for growth.
The noteworthy players in the South African in-vitro diagnostics services market are:
- Danaher Corporation
- F. Hoffmann-La Roche Ltd
- Becton, Dickinson, and Company
- Nihon Kohden Corporation
- Abbott Laboratories
- Siemens Healthineers
- Thermo Fischer Scientific
- Bio-Rad Laboratories Inc
- BioMerieux SA
- DiaSorin SpA
Other Reports That Might Be of Your Interest:
- Middle East & Africa In-Vitro Diagnostics Market Report - The Middle East & Africa in-vitro diagnostics market size is expected to grow from USD 4.31 billion in 2023 to USD 5.49 billion by 2028 at a CAGR of 4.95% during the forecast period (2023-2028).
- Australia In-vitro Diagnostics Market Report - Over the next few years, the Australian in-vitro diagnostics market is expected to register a CAGR of about 5.36%.
Key Highlights from the South Africa In-Vitro Diagnostics Services Market Report:
Increasing Demand from Reagents in the Product Segment
- Reagents are an important integral part of in-vitro diagnostics. A few market players launched reagents for COVID-19 testing. In July 2021, the Health Republic of South Africa released an updated policy and guidelines for SARS-COV-2 in-vitro diagnostic tests in South Africa.
- The reagent segment of the market studied incorporates chemical, biological, or immunological components, solutions, or preparations to be used during the in-vitro diagnosis process. With the high cost of many diagnostic platforms, manufacturers lease equipment instead of selling technology outright to end-users.
Molecular Diagnostics Segment to Dominate the Market
- The rising developments in the molecular diagnostics field, increasing prevalence of infectious diseases, and rising adoption of molecular diagnostic tests are the major factors boosting the market.
- The cumulative prevalence of infectious diseases is increasing the adoption of molecular diagnostic tests in the region. According to the data from the National Institute for Communicable Diseases of South Africa, in November 2022, 1,149 cases of influenza were detected, and 95 cases of Bordetella pertussis were detected in South Africa in 2022.
What are the Latest Developments in the South Africa In-Vitro Diagnostics Services Market?
- In March 2022, Audere partnered with Medical Diagnostech, headquartered in South Africa, a developer and manufacturer of lateral flow rapid diagnostic test kits. This alliance pairs Medical Diagnostech’s MD SARS-nCoV-2 Antigen Device with Audere’s HealthPulse digital companion app.
- In February 2022, Datar Cancer Genetics commenced the blood-based Trucheck cancer screening test in South Africa.
Mordor Intelligence has Segmented the South Africa In-Vitro Diagnostics Services Market Based on Test Type, Product, Usability, Application, and End-user:
- By Test Type
- Clinical Chemistry
- Molecular Diagnostics
- Immuno Diagnostics
- Haematology
- Other Test Types
- By Product
- Instrument
- Reagent
- Other Products
- By Usability
- Disposable IVD Device
- Reusable IVD Device
- By Application
- Infectious Disease
- Diabetes
- Cancer/Oncology
- Cardiology
- Autoimmune Disease
- Nephrology
- Other Applications
- By End-user
- Diagnostic Laboratories
- Hospitals and Clinics
- Other End-users
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the South Africa In-Vitro Diagnostics Services Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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