The Qatar flu diagnostic and treatment market is projected to grow at a CAGR of 6.82% throughout the forecast period and reach a market value of US$45.714 million by 2027. The market is valued at US$28.798 million in 2020.
The flu diagnostic and treatment market in Qatar is projected to witness a noteworthy CAGR throughout the forecast period due to the fact that the country has been equipped with highly advanced healthcare facilities coupled with the high purchasing power of the consumers, which lets the consumers take proactive measures in order to predetermine the diseases, which is considered as one of the key factors bolstering the market growth in the country throughout the forecast period.
The rise in spending on the healthcare expenditure
Furthermore, a significant increase in healthcare expenditure is also projected to supplement the flu diagnostic and treatment market in Qatar throughout the forecast period. The increasing investments by the government and other institutions to further advance the healthcare facilities to boost the healthcare sector of the country also shows the potential for the market to surge throughout the forecast period and beyond. For instance, according to the Qatar Chamber Board, the country invested about US$6.2 billion in the healthcare sector in the year 2018, which was a 4% increase over what was invested in the year prior.
Moreover, numerous factors such as the presence of world-class healthcare infrastructure coupled with increasing health awareness among the population along with government support to keep the citizens healthy, are also some of the key factors that support the flu diagnostic and treatment market in Qatar. Healthcare facilities are available to each and everyone in the country, regardless of residency or nationality. In addition, the Ministry of Public Health, Qatar, also stated that during the current season there were no flu outbreaks in the country as proactive measures were already taken by the government and the citizens to minimize the incidence of the disease across the country. The national vaccination campaigns by the Ministry of Public Health are the reason for controlling the diseases in the country and are also bolstering the market growth during the next five years.
The annual seasonal influenza vaccination campaign will start with free flu shots offered at all primary health centres, HMC outpatient clinics, and at more than 45 private and semi-private clinics and hospitals throughout Qatar, according to the Ministry of Public Health, Hamad Medical Corporation, and Primary Health Care Corporation.
The Qatar flu diagnostic and treatment market has been segmented on the basis of the type of flu, offering, age group, and end-user. On the basis of the type of flu, the market has been classified into type A and type B. By offering, the market has been segmented into diagnostics and therapeutics. The market has been divided into three age groups: 0-14 years, 15-64 years, and >=65 years. By the end-user, the segmentation has been done on the basis of the hospital laboratory, outpatient clinic, and reference laboratory.
Key Developments
Impact of the COVID-19 pandemic
The COVID-19 pandemic has had a substantial impact on the market for influenza diagnostics; unfavourable changes in rules and standards, the closure of factories owing to lockdowns, and interruptions in supply chains have negatively impacted the market growth. The availability of influenza diagnostics products to end customers has also been affected by regional operations in most businesses, insufficient funding for academic and research institutions, and difficulties in delivering necessary or post-sale services because of lockdowns. In the near term, COVID-19 influenced the market for influenza diagnostic tests; however, in the long term, declining COVID-19 infection rates and patient numbers, along with rising product demand, are anticipated to drive the market share for these tests.
Segmentation