Middle East and Africa (MEA) flu diagnostic and treatment market is expected to surge at a CAGR of 8.26% throughout the forecast period. The growing investments in the healthcare sector is one of the prime drivers for the Middle East and Africa (MEA) flu diagnostic and treatment market growth. Furthermore, increasing government support to boost the healthcare sector and improve the quality of healthcare across the numerous countries in the region is also contributing to the market growth for flu diagnostic and treatment in the Middle East and Africa (MEA) region. For instance, the government of Saudi Arabia is taking numerous initiatives to boom the private healthcare sector of the country as their inclination towards economic diversification and also to reduce the dependence on the public sector is also one of the key factors which is anticipated to propel the growth opportunities for the market to surge in the Middle East and Africa region throughout the forecast period and beyond. Furthermore, in many countries, the unavailability of well-established public healthcare is leading to the rising adoption of private healthcare services such as South Africa and Iran among others. The growth in private health spending also in numerous countries is also projected to show propelling growth opportunities during the coming years. For instance, in Israel, the proportion of private spending reached around 40% (Source: Israel Central Bureau of Statistics). This, in turn, is projected to augment the demand for advanced healthcare services thereby positively impacting the market growth in the Middle East and Africa region.
Rising healthcare expenditure is expected to drive the market growth
Healthcare expenditure plays an important role in driving the flu diagnostic and treatment market in the region. The rising healthcare expenditure in various countries of the region further shows the potential for the market to grow as the rising healthcare expenditure indicates an increase in the demand for costly medical services and treatments which is positively impacting the market growth for the coming years. For instance, according to the World Bank Group, the current healthcare expenditure per capita (current US$) in Israel reached US$2,387.14 by 2016 from 1,580.635 in 2006. Similarly in Saudi Arabia, it increased from US$554.256 in 2006 to US$1,147.333 by 2016. In addition, the country also allocated around US$39.2 million in 2018, especially for the Healthcare and Social Development Sector and an increase of 10% from the previous year which is also amplifying the market growth in the region throughout the forecast period.
Type A flu to hold a notable share in the market
On the basis of the type of flu, the Middle East and Africa flu diagnostic and treatment market has been classified into Type A and Type B. The Type A segment is anticipated to hold a noteworthy market share due to the fact that this is the most common type of influenza virus diagnosed throughout the various countries of the Middle East and Africa region. In addition, the number of diagnosed cases with type A flu are also higher in comparison with the number of type B flu in the region which is one of the key factors supporting the growth of type A segment.
Qatar is anticipated to show noteworthy growth over the forecast period
On the basis of the country, the Middle East and Africa flu diagnostic and treatment market has been segmented on the basis of Saudi Arabia, Israel, UAE, Qatar, Iran, and South Africa among others. Qatar is projected to show a noteworthy growth in the market throughout the next five years due to the well-established healthcare sector and highly advanced healthcare infrastructure of the country. Israel is also projected to show decent growth during the forecast period as the country’s focus to provide quality healthcare to everyone supports the flu diagnostic and treatment market growth in Israel.
Prominent key market players in the Middle East and Africa (MEA) flu diagnostic and treatment market include F. Hoffmann-La Roche Ltd, Meridian Bioscience, and 3M among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Middle East and Africa (MEA) flu diagnostic and treatment market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.