Report Overview

Saudi Arabia Diagnostic Labs Market - Industry Trends & Forecast Report 2028

Saudi Arabia Diagnostic Labs Market is predicted to grow at a CAGR of 7.4% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the people in the nation using diagnostic tests to assist them to stay healthy as they become more conscious of the negative effects of infectious diseases. Additionally, the country's aging population, which is more susceptible to numerous diseases, is anticipated to increase demand for Saudi Arabia Diagnostic Labs during the anticipated period. Moreover, the rising incidence of different infectious and non-infectious disorders across the nation supports market growth. The demand for diagnostic tests to identify COVID-19 has also increased as a result of the pandemic's quick breakout and expansion. In turn, this supported the market expansion and is likely to offer lucrative growth opportunities during the forecast period (2022-2028).

Diagnostic Lab - Overview

Lab tests and diagnostic procedures are used to determine whether a person's health is normal. A lab, for example, can examine a sample of patients’ blood, urine, or body tissue to determine if something is wrong. A diagnostic test, such as blood pressure testing, can determine whether a patient has low or high blood pressure. Moreover, diagnostic tests are medical tests that are used to aid in the detection or diagnosis of any disease. These tests are critical in disease control, surveillance, and prevention. These types of tests help to improve patient care, consumer safety, and healthcare spending. Cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, odontology, and other specialties are represented in the diagnostic labs.

Saudi Arabia Diagnostic Labs Market Forecast and Trends

Growth Drivers

Growing Disease Prevalence Fueling Market Growth

The market for diagnostic labs in Saudi Arabia has seen significant growth due to the rising frequency of chronic and infectious diseases such as cancer, cardiovascular disease, gastrointestinal disorders, renal disorders, and urological difficulties. The Ministry of Health reports that as of 2021, approximately 105,428 COVID-19 lab tests had been performed in Saudi Arabia. In Saudi Arabia, the prevalence of Chronic Obstructive Pulmonary Disease (COPD) as a percentage of the total population was roughly 4.2 percent. Laboratory testing can be used to diagnose the disorders indicated above. Due to the huge increase in the number of lab tests performed in Saudi Arabia, the market for diagnostic labs in Saudi Arabia is expanding.

Growing Concerns Regarding Health

The demand for diagnostic lab tests in Saudi Arabia has dramatically increased due to the country's growing awareness of the health risks posed by infection and cross-contamination. Additionally, several government organizations and diagnostic labs are making efforts to promote wellness and reduce the prevalence of infectious diseases in Saudi Arabia. The Centers for Disease Control and Prevention (CDC), for instance, has taken steps to raise awareness of many infectious diseases. This is hence anticipated to assist the market expansion for diagnostic labs in Saudi Arabia throughout the projected year (2022-2028).

Increased Organizational Health Coverage Aids Market Growth

Saudi Arabia's high penetration of organized health coverage across a broader range of diseases is the primary driver of the organized diagnostic sector's growth. As Saudi Arabia's economy grows, insurance-backed and publicly funded healthcare schemes are becoming the backbone of the diagnostic industry. Government incentives also play an important role in encouraging more preventive testing among the population. Bupa Insurance Company, for example, offers diagnostic lab test insurance plans that meet the requirements of the Council of Cooperative Health Insurance and the Saudi Arabian Monetary Authority (SAMA).

Restraints

Expensive Research and Manufacturing Process Costs

Saudi Arabia Diagnostic Labs Market is severely constrained by expensive research and manufacturing process costs. The market for medical and diagnostic laboratory services is hampered by some regions' strict rules when it comes to diagnostic services. It is anticipated that pricing pressure brought on by reimbursement reductions, budgetary restraints, and strict regulatory policies hinder market expansion. Additionally, during the forecast period of 2022–2028, the diagnostic labs market is expected to face challenges related to a lack of alignment with clear central lab methodologies and poor uptake of POC devices in professional settings. However, many companies are stepping up their efforts to create affordable medical and diagnostic procedures, which is anticipated to ease the constraints in the approaching years.

Impact of COVID-19 on Saudi Arabia Diagnostic Labs Market

The COVID-19 epidemic boosted the growth of the Saudi Arabia Diagnostic Labs market as patients demanded preliminary and blood testing to check for the presence of novel coronaviruses. Laboratory tests are necessary to identify the presence of cardiovascular diseases, gastrointestinal problems, renal disorders, cancer, and other diseases as their incidence rises and to identify an effective treatment for each disease. Additionally, people in the nation are using diagnostic tests to assist them to stay healthy as they become more conscious of the negative impacts of infectious diseases. Additionally, the country's aging population, which is more susceptible to numerous diseases, is anticipated to increase demand for Saudi Arabian diagnostic labs throughout the projected period (2022-2028).

Saudi Arabia Diagnostic Labs Market - By Provider Type

Based on the provider type, the Saudi Arabia Diagnostic Labs Market is segmented into Hospital-Based, Stand Alone. Among these, hospital-based accounts for the largest share in the Saudi Arabia Diagnostic Labs Market. This is due to the enormous patient foot traffic in hospital facilities and the enormous spending on diagnostic labs in hospitals. Hospital laboratories' expensive equipment, specialized departments, and highly trained staff all contribute to the segment's growth. Moreover, due to the ongoing automation and digitalization of diagnostic laboratories, as well as high reimbursement coverage for clinical tests carried out at these centers, it is predicted that the stand-alone diagnostic center segment would dominate the Saudi Arabia Diagnostic Labs Market in the coming years.

Saudi Arabia Diagnostic Labs Market – By Test Type

Based on test type, the Saudi Arabia Diagnostic Labs Market is segmented into Radiology and Pathology. Among these, the pathology segment holds the largest market share. The pathology segment currently dominates the market. Pathology tests are used to confirm any disease and are repeated regularly even after the problem has been identified. People have become more health-conscious in general, and they actively participate in regular health check-ups as part of their preventive healthcare practices. Moreover, radiology is predicted to dominate the market during the forecast period. This is owing to most people utilize this field. The images are used by medical professionals to examine tissues, bones, and joints. Through radiography, internal injuries are also detected. According on the doctor's instructions and requirements, radiologists produce two- and three-dimensional images. Nuclear medicine, PET (positron emission tomography), X-ray, CT scan, and ultrasound are a few examples. All these factors boost the growth of the Saudi Arabia Diagnostic Labs Market during the forecast period (2022-2028).

Saudi Arabia Diagnostic Labs Market - By End-User

Based on end-user, the Saudi Arabia Diagnostic Labs Market is segmented into Referrals, Walk-ins, and Corporate Clients. The referrals segment now has the biggest market share and is likely to continue to do so during the forecast period (2022-2028). As the majority of patients only test themselves on the advice of healthcare professionals. A large number of diagnostic chains have formed alliances with hospitals to ensure that patients can access their services. Also, as many diagnostic laboratories require a doctor's prescription before running a diagnostic test on the patient for various diseases, this influences the referrals segment to dominate the market share in the upcoming years. On the other hand, the walk-ins’ segment is expected to continue to grow during the forecast period, primarily due to rising health consciousness among individuals.

Saudi Arabia Diagnostic Labs Market – By Region

Geographically, the Saudi Arabia Diagnostic Labs Market is segmented into Central, Eastern, Western, and Southern. Among these Central and Western Saudi Arabia are identified as the primary regions, based on the urbanization, and development of the healthcare sector in this region. Also, owing to the availability of diagnostic labs in the Kingdom, based on the rising diagnosis tests in the Central and Western Region, Riyadh, Makkah, and Medina are identified as key cities. Demand then increased in the Eastern, Southern, and Northern Regions. When it comes to geriatric populations and various research institutes, Dammam, Asir, and Ha'il are thought of as developing regions.

Competitive Landscape

The leading market players in the Saudi Arabia Diagnostic Labs Market are Al Borg Medical Laboratories, Delta Medical Laboratories, Al-Faradi Medical Laboratories, Alfa Medical Laboratories, Roya Specialized Medical Laboratories, Tibyana Medical Laboratories, Al Hyatt Medical Laboratories, Al-Arab Medical Laboratories, Medical Diagnostics Labs, Advanced Cell Laboratory for Medical Analysis Company, and other prominent players.

The Saudi Arabia Diagnostic Labs Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Scope of the Report

By Provider Type

• Hospital-Based
• Stand Alone

By Test Type

• Radiology
• Pathology

By End-User

• Referrals
• Walk-ins
• Corporate Clients

By Region

• Central
• Western
• Southern
• Eastern

1. Research Framework
   1. Research Objective
   2.  Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Saudi Arabia Diagnostic Labs Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Saudi Arabia Diagnostic Labs Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Provider Type
         1. Hospital Based
         2. Stand Alone
      2. By Test Type
         1. Radiology
         2. Pathology
      3. By End-User
         1. Referrals
         2. Walk-ins
         3. Corporate Clients
      4. By Region
         1. Central
         2. Western
         3. Southern
         4. Eastern
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership, etc.)
7. Impact of COVID-19 on Saudi Arabia Diagnostic Labs Market Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. Al Borg Medical Laboratories
   2. Delta Medical Laboratories
   3. Al-Faradi Medical Laboratories
   4. Alfa Medical Laboratories
   5. Roya Specialized Medical Laboratories
   6. Tibyana Medical Laboratories
   7. Al Hyatt Medical Laboratories
   8. Al-Arab Medical Laboratories
   9. Medical Diagnostics Labs
   10. Advanced Cell Laboratory For Medical Analysis Company
   11. Other Prominent Players
9. Key Strategic Recommendations

Note: Financial in information in case of non-listed companies will be provided as per availability

The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1        Saudi Arabia Diagnostic Labs Segmentation

Figure 2        Saudi Arabia Diagnostic Labs Market Value Chain Analysis

Figure 3        Porter’s Five Forces Analysis

Figure 4        Saudi Arabia Diagnostic Labs Market Size, By Value (USD Million), 2018-2028

Figure 5        Saudi Arabia Diagnostic Labs Market Share, By Provider Type, By Value, 2018-2028

Figure 6        Saudi Arabia Diagnostic Labs Market Share, By Test Type, By Value, 2018-2028

Figure 7        Saudi Arabia Diagnostic Labs Market Share, By End-User, By Value, 2018-2028

Figure 8        Saudi Arabia Diagnostic Labs Market Share, By Region, By Value, 2018-2028

Figure 9        Market Share Analysis, 2021

List of Tables

Table 1         Saudi Arabia Diagnostic Labs Market Size, By Provider Type, By Value, 2018-2028

Table 2         Saudi Arabia Diagnostic Labs Market Size, By Test Type, By Value, 2018-2028

Table 3         Saudi Arabia Diagnostic Labs Market Size, By End-User, By Value, 2018-2028

Table 4         Saudi Arabia Diagnostic Labs Market Size, By Region, By Value, 2018-2028

Table 5         Key Players and Their Offerings

Table 6         Competitive Benchmarking, By Operating Parameters

Table 7         Merger Acquisition, Partnership, Joint-Ventures etc.

Table 8         Al Borg Medical Laboratories Company Overview

Table 9         Al Borg Medical Laboratories Financial Overview

Table 10        Delta Medical Laboratories Company Overview

Table 11        Delta Medical Laboratories Financial Overview

Table 12        Al-Faradi Medical Laboratories Company Overview

Table 13        Al-Faradi Medical Laboratories Financial Overview

Table 14        Alfa Medical Laboratories Company Overview

Table 15        Alfa Medical Laboratories Financial Overview

Table 16        Roya Specialized Medical Laboratories Company Overview

Table 17        Roya Specialized Medical Laboratories Financial Overview

Table 18        Tibyana Medical Laboratories Company Overview

Table 19        Tibyana Medical Laboratories Financial Overview

Table 20        Al Hyatt Medical Laboratories Company Overview

Table 21        Al Hyatt Medical Laboratories Financial Overview

Table 22        Al-Arab Medical Laboratories Company Overview

Table 23        Al-Arab Medical Laboratories Financial Overview

Table 24        Medical Diagnostics Labs Company Overview

Table 25        Medical Diagnostics Labs Financial Overview

Table 26        Advanced Cell Laboratory for Medical Analysis Company Overview

Table 27        Advanced Cell Laboratory for Medical Analysis Company Financial Overview