In Vitro Diagnostics - Bahrain | Statista Market Forecast

The projected revenue in the In Vitro Diagnostics market market in Bahrain is expected to reach US$35.20m by 2024.
Over the period from 2024 to 2029, the market is anticipated to grow at an annual growth rate of 3.18%, leading to a market volume of US$41.16m by 2029.
Interestingly, in a global comparison, the United States is projected to generate the highest revenue of US$30.10bn in 2024.
In Bahrain, there is a growing demand for advanced In Vitro Diagnostics technologies to support the country's healthcare system.

Definition:
The market In Vitro Diagnostics (IVD) consists of medical instruments and accessories used to perform tests with the help of biological samples. In Vitro Diagnostics provide valuable information used for detection, prognosis, prevention, and therapeutic monitoring of diseases.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Roche Diagnostics, Abbott Laboratories, Danaher, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.

Molecular diagnosis
Immunoassays
Clinical chemistry
Microbiology
Hematology

Services (i.e., treatment expenses)
Imaging diagnostics

The In Vitro Diagnostics market in Bahrain is experiencing steady growth due to various factors such as increasing healthcare expenditure, rising prevalence of chronic diseases, and advancements in medical technology.

Customer preferences: Customers in Bahrain are increasingly demanding advanced diagnostic tests that provide accurate and quick results. They prefer non-invasive diagnostic procedures that minimize discomfort and reduce the risk of infection. Additionally, there is a growing preference for personalized medicine, which requires diagnostic tests that can identify specific genetic markers or biomarkers to tailor treatment plans.

Trends in the market: One of the key trends in the In Vitro Diagnostics market in Bahrain is the adoption of point-of-care testing (POCT) devices. These devices allow for rapid diagnosis and immediate treatment decisions, eliminating the need for sending samples to a laboratory and waiting for results. POCT devices are particularly beneficial in remote areas where access to healthcare facilities may be limited. Another trend in the market is the increasing use of molecular diagnostics. Molecular diagnostic tests can detect genetic mutations, identify infectious pathogens, and predict the likelihood of developing certain diseases. These tests are becoming more affordable and accessible, leading to their wider adoption in Bahrain.

Local special circumstances: Bahrain has a well-developed healthcare infrastructure and a high standard of healthcare services. The government has been actively investing in the healthcare sector, promoting medical tourism, and attracting international healthcare providers. This has created a favorable environment for the growth of the In Vitro Diagnostics market. Furthermore, Bahrain has a high prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer. This has increased the demand for diagnostic tests that can accurately detect and monitor these conditions. The government has also implemented various screening programs to detect diseases at an early stage, further driving the demand for In Vitro Diagnostics.

Underlying macroeconomic factors: Bahrain has a stable economy with a high GDP per capita, which enables individuals to afford diagnostic tests and healthcare services. The government has also implemented mandatory health insurance for all residents, ensuring that individuals have access to healthcare services, including diagnostic tests. Additionally, Bahrain has a young and growing population, which increases the demand for healthcare services, including diagnostic tests. The government's focus on improving healthcare infrastructure and promoting medical tourism has attracted foreign investment and expertise, further driving the growth of the In Vitro Diagnostics market. In conclusion, the In Vitro Diagnostics market in Bahrain is experiencing steady growth due to increasing healthcare expenditure, rising prevalence of chronic diseases, and advancements in medical technology. Customer preferences for accurate and quick diagnostic tests, the adoption of point-of-care testing devices, and the increasing use of molecular diagnostics are driving the market trends. The well-developed healthcare infrastructure, high prevalence of chronic diseases, and government initiatives to improve healthcare services and attract foreign investment are the local special circumstances contributing to the market growth. The stable economy, high GDP per capita, mandatory health insurance, and young population are the underlying macroeconomic factors supporting the growth of the In Vitro Diagnostics market in Bahrain.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.