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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

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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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South Africa In-Vitro Diagnostics Market - Mordor Intelligence