In Vitro Diagnostics - Tanzania | Statista Market Forecast

The In Vitro Diagnostics market market in Tanzania is expected to achieve a projected revenue of US$30.09m in 2024.
This revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 4.75%, ultimately leading to a market volume of US$37.95m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, reaching US$30.10bn in 2024.
Tanzania's in vitro diagnostics market is witnessing a surge in demand for point-of-care testing solutions to improve healthcare accessibility in remote areas.

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 Tanzania has experienced significant growth in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Tanzania have played a crucial role in the development of the In Vitro Diagnostics market. Customers in the country have shown a growing demand for accessible and affordable healthcare services. With an increasing awareness of the importance of early disease detection and prevention, there has been a rising demand for In Vitro Diagnostics products. Customers are seeking reliable and accurate diagnostic tests that can be easily performed in healthcare facilities across the country. Trends in the market have also contributed to the growth of the In Vitro Diagnostics market in Tanzania. Technological advancements in the field of diagnostics have led to the development of innovative and efficient diagnostic tests. These tests offer faster results, increased accuracy, and improved patient outcomes. As a result, healthcare providers in Tanzania have been adopting these advanced diagnostic technologies to enhance their diagnostic capabilities and provide better healthcare services to their patients. Local special circumstances have further fueled the growth of the In Vitro Diagnostics market in Tanzania. The country has a high burden of infectious diseases, such as malaria, HIV/AIDS, and tuberculosis. In Vitro Diagnostics tests play a crucial role in the detection and management of these diseases. The Tanzanian government has recognized the importance of diagnostics in improving healthcare outcomes and has implemented various initiatives to promote the use of In Vitro Diagnostics products. These initiatives include the establishment of diagnostic laboratories, training programs for healthcare professionals, and the procurement of diagnostic equipment. Underlying macroeconomic factors have also contributed to the development of the In Vitro Diagnostics market in Tanzania. The country has experienced steady economic growth in recent years, which has led to an increase in healthcare spending. The government has been investing in the healthcare sector, including the procurement of medical equipment and the improvement of healthcare infrastructure. This has created a favorable environment for the growth of the In Vitro Diagnostics market, as healthcare providers have the financial resources to invest in advanced diagnostic technologies. In conclusion, the In Vitro Diagnostics market in Tanzania has witnessed significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. With an increasing demand for accessible and affordable healthcare services, advancements in diagnostic technologies, a high burden of infectious diseases, and government investments in the healthcare sector, the market is expected to continue its growth trajectory in the coming years.

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.