In Vitro Diagnostics - Zimbabwe | Statista Market Forecast

The projected revenue in the In Vitro Diagnostics market market in Zimbabwe is set to reach US$13.36m in 2024.
It is expected to display an annual growth rate (CAGR 2024-2029) of -0.17%, ultimately leading to a market volume of US$13.25m by 2029.
When compared globally, the United States is expected to generate the highest revenue, reaching US$30.10bn in 2024.
Zimbabwe's In Vitro Diagnostics market is experiencing a surge in demand due to the country's growing 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 Zimbabwe is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Zimbabwe are driving the demand for In Vitro Diagnostics. Consumers are increasingly seeking access to affordable and accurate diagnostic tests to monitor their health. With the rising prevalence of chronic diseases, such as diabetes and cardiovascular diseases, there is a growing need for regular diagnostic testing. Additionally, the COVID-19 pandemic has further highlighted the importance of diagnostic testing in detecting and managing infectious diseases. As a result, customers in Zimbabwe are actively seeking out In Vitro Diagnostics products that provide quick and reliable results. The market is also influenced by global trends in the In Vitro Diagnostics industry. Technological advancements have led to the development of innovative diagnostic tools that offer improved accuracy and efficiency. This has led to a shift towards point-of-care testing, where diagnostic tests can be performed at the patient's bedside or in non-traditional healthcare settings. In Zimbabwe, this trend is particularly relevant as it allows for easier access to diagnostic testing in remote areas with limited healthcare infrastructure. Local special circumstances in Zimbabwe also contribute to the growth of the In Vitro Diagnostics market. The country has a high burden of infectious diseases, such as HIV/AIDS and malaria. This necessitates regular diagnostic testing to detect and monitor these diseases. Additionally, Zimbabwe has a growing aging population, which increases the demand for diagnostic tests related to age-related diseases and conditions. The government of Zimbabwe has recognized the importance of In Vitro Diagnostics and has implemented policies to promote their accessibility and affordability. Underlying macroeconomic factors further drive the development of the In Vitro Diagnostics market in Zimbabwe. The country has experienced economic growth in recent years, which has led to increased healthcare spending. This allows for greater investment in healthcare infrastructure, including the procurement of In Vitro Diagnostics products. Additionally, the government has implemented healthcare reforms to improve the quality and accessibility of healthcare services, which includes the provision of diagnostic testing. In conclusion, the In Vitro Diagnostics market in Zimbabwe is growing due to customer preferences for affordable and accurate diagnostic tests, global trends in the industry, local special circumstances such as the high burden of infectious diseases and the aging population, and underlying macroeconomic factors such as economic growth and healthcare reforms. This presents opportunities for companies operating in the In Vitro Diagnostics sector to expand their presence in the Zimbabwean market.

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.