Molecular Diagnostics Market Report – South Africa / MEA

From USD$762.55 million to USD$1,313.21 million by 2028:

The Transformative Trajectory of Molecular Diagnostics in MEA Healthcare

Molecular Diagnostics: A Rapidly Growing Global Market

Molecular diagnostics is the analysis of biological markers or genetic material (DNA or RNA) to diagnose diseases, monitor treatment effectiveness, and detect genetic predispositions. It plays a crucial role in healthcare, offering accurate and rapid results. In 2023, the global molecular diagnostics market is valued at USD$16.6 billion, and it is expected to grow steadily from 2023 to 2028 at an annual rate of 11.4%, reaching approximately USD$28.6 billion.

The expansion of the molecular diagnostics industry is driven by the increase in prevalence of infectious and chronic diseases, such as cancer, as well as the greater awareness of the benefits of molecular diagnostics, especially among the elderly population. The COVID-19 pandemic has further underscored the importance of such testing for public health.

Researchers continue to enhance methods of methods for screening such as Polymerase Chain Reaction (PCR) and Next-Generation Sequencing (NGS), which makes molecular diagnostics indispensable in a variety of medical fields that range from cancer and infectious diseases to genetic analysis and to comprehend individual drug responses.

This report will provide insights into the molecular diagnostic market in South Africa and other MEA regions.

South Africa’s Molecular Diagnostics Market: A Bright Future Fueled by Technology and Budget

South Africa’s molecular diagnostic market is expected to develop at a 4.9% annual rate from 2021 to 2028, with a value of USD$8.53 million projected by 2028. This increase can be linked to technology developments and enhancement in healthcare budget allocation, which has resulted in a stronger need for these critical diagnostic controls.

The growth of diagnostic solutions for cancer and infectious illnesses is driving the increased need for molecular quality standards. Moreover, accredited laboratories have started to look for assurance of quality, and third-party assurances of quality have become more common. However, challenges persist, including the absence of a robust payment system and the associated costs of quality control, potentially hampered by budget constraints within hospitals and labs.

The market stands to benefit from government initiatives aimed to enhance the knowledge and treatment of infectious diseases. Organisations like the Infectious Illness Society of Southern Africa are actively engaged to support the healthcare professionals and physicians involved in infectious disease management.

Molecular Diagnostics: A Growing Force in the Middle East and Africa’s Healthcare Sector

The Middle East and Africa’s molecular diagnostics market is poised for growth, expected to rise from USD$762.55 million in 2021 to USD$1,313.21 million by 2028, with an average annual growth rate of 8.1% during the forecast period.

This growth is driven by several significant factors. The ageing population has led to an increased demand for medical care, while the prevalence of infectious and non-communicable diseases is on the rise. Advancements in molecular diagnostics technology have enhanced efficiency and accessibility. In the UAE, substantial improvements in healthcare infrastructure and procedures have elevated it to a leading healthcare provider, particularly beneficial during the COVID-19 pandemic owing to ongoing investments. However, other countries in the region are expected to continue facing substantial impacts on healthcare operations due to COVID-19.

Conclusion

Molecular diagnostics has brought about a rapid transformation in the healthcare sector, ushering in a new era of personalised medicine. Consequently, the molecular diagnostics market has attracted substantial investments from both the public and private sectors. Pharmaceutical and biotechnology companies have forged stronger partnerships and collaborations with diagnostic firms, acknowledging the potential of molecular diagnostics in the creation of tailored therapies. In a bid to enhance patient care, prominent healthcare service providers, including diagnostic laboratories and hospitals, have seamlessly integrated molecular diagnostics into the services.