In Vitro Diagnostics - Gambia | Statista Market Forecast

The projected revenue for the In Vitro Diagnostics market market in Gambia is estimated to reach US$603.20k in 2024.
It is expected to experience a compound annual growth rate (CAGR 2024-2029) of 3.26%, leading to a market volume of US$708.30k by 2029.
In comparison to the global market, the United States is anticipated to generate the highest revenue, amounting to US$30.10bn in 2024.
Gambia's In Vitro Diagnostics market is experiencing a growing demand for point-of-care testing due to limited healthcare infrastructure.

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 Gambia is experiencing steady growth due to increasing customer preferences for advanced medical testing and the implementation of local special circumstances that support the development of the healthcare industry. Customer preferences in the In Vitro Diagnostics market in Gambia are shifting towards more accurate and efficient medical testing. As the population becomes more aware of the importance of early disease detection and prevention, there is a growing demand for advanced diagnostic tests that can provide accurate results in a timely manner. Customers are also seeking tests that are non-invasive and can be performed easily, which has led to the adoption of point-of-care testing devices in the country. Additionally, there is a preference for tests that can provide a wide range of diagnostic information, enabling healthcare professionals to make more informed decisions about patient care. One of the key trends in the In Vitro Diagnostics market in Gambia is the increasing use of molecular diagnostics. This technology allows for the detection and analysis of genetic material, enabling the diagnosis and monitoring of various diseases, including infectious diseases and genetic disorders. The adoption of molecular diagnostics in Gambia has been driven by the need for more accurate and targeted treatment options, as well as the availability of advanced laboratory infrastructure and trained personnel. The trend towards molecular diagnostics is expected to continue as the technology becomes more accessible and affordable. Another trend in the market is the growing demand for point-of-care testing devices. These devices allow for medical testing to be performed at the patient's bedside or in the doctor's office, providing immediate results and reducing the need for laboratory testing. Point-of-care testing devices are particularly valuable in resource-limited settings like Gambia, where access to healthcare facilities and laboratory infrastructure may be limited. The adoption of point-of-care testing devices is expected to increase as the government and healthcare organizations in Gambia invest in improving healthcare infrastructure and expanding access to medical services. Local special circumstances in Gambia are supporting the development of the In Vitro Diagnostics market. The government has recognized the importance of a strong healthcare system and has implemented policies and initiatives to improve healthcare infrastructure and access to medical services. This includes the establishment of new healthcare facilities, the recruitment and training of healthcare professionals, and the implementation of health insurance schemes to make healthcare more affordable and accessible to the population. These local special circumstances are creating a favorable environment for the growth of the In Vitro Diagnostics market in Gambia. Underlying macroeconomic factors, such as population growth, increasing healthcare expenditure, and advancements in medical technology, are also contributing to the development of the In Vitro Diagnostics market in Gambia. The country's growing population is driving the demand for healthcare services, including diagnostic tests. Increasing healthcare expenditure by the government and private sector is enabling the investment in healthcare infrastructure and the adoption of advanced medical technologies. Additionally, advancements in medical technology are making diagnostic tests more accurate, efficient, and affordable, further driving the growth of the In Vitro Diagnostics market in Gambia.

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.