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Report
GCC Clinical Reference Laboratory Market Research Report Forecast to 2030
Market Report I 2023-08-17 I 63 Pages I Market Research Future
GCC Clinical Reference Laboratory Market Research Report Forecast to 2030
Market Overview
The growth of the Gulf Cooperation Council (GCC) clinical reference laboratory market is attributed to the growing prevalence of chronic disorders, increased burden of target diseases, and increasing outsourcing from hospitals. However, stringent regulatory frameworks and high costs of advanced technologies are anticipated to hamper market growth.
Clinical reference laboratories are used to support, diagnose, analysis patient care as well as used for medical research. Laboratory services are an essential part of disease diagnosis, treatment, monitoring response to treatment, disease surveillance programs, and clinical research. The clinical reference laboratory market growth witnessed a significant rise due to the accelerating demand for clinical trials owing to the growing chronic ailments among the expanding populace. Such laboratories are predicted to acquire prominence in the forecast term due to the reduced hospital budget and declining Medicare reimbursements. In addition, the increasing value-based outsourcing from hospitals is likely to augment the clinical laboratory services market share during the forecast period.
The expected growth in the market can be attributed to the growing prevalence of chronic disorders and the increased burden of target diseases. However, the market is also held back by stringent regulatory frameworks and the high costs of advanced technologies. Nevertheless, it is anticipated that the increasing outsourcing from hospitals will create lucrative opportunities for the players operating in the GCC clinical reference laboratory market.
Market Segmentation
Based on service, the Gulf Cooperation Council (GCC) clinical reference laboratory market is segmented into stand alone, hospital based, and clinic based.
Based on application, the Gulf Cooperation Council (GCC) clinical reference laboratory market has been segmented into clinical trials and laboratory medicine.
Regional Analysis
Increasing value-based outsourcing from hospitals, application of advanced automation technology in reference laboratories, and cost and time savings for hospitals and clinics due to the increase in outsourcing by independent laboratories are the key driving factors for the Gulf Cooperation Council (GCC) clinical reference laboratory market. Clinical reference laboratories have gained immense importance during the COVID-19 pandemic owing to the increasing demand for testing. Key players are focusing on collaborations for providing new lab testing services. For instance, in March 2022, GC Labs entered into a service agreement with Bio Lab in Bahrain and Biotrust in Cambodia, expanding its presence in Asia & Middle East.
Major Players
Quest Diagnostics (US), SRL Diagnostics (India), Unilabs (Switzerland), Pure Lab (UAE), Thumbay Labs (UAE), Medsol Diagnostics (UAE), Neuberg Diagnostics, and Alpha Medical Laboratory.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 10
2 MARKET INTRODUCTION 11
2.1 DEFINITION 11
2.2 SCOPE OF THE STUDY 11
2.3 RESEARCH OBJECTIVE 11
2.4 MARKET STRUCTURE 11
2.5 ASSUMPTIONS & LIMITATIONS 12
3 RESEARCH METHODOLOGY 13
3.1 DATA MINING 13
3.2 SECONDARY RESEARCH 13
3.3 PRIMARY RESEARCH 14
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 15
3.5 FORECASTING TECHNIQUES 16
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 17
3.6.1 BOTTOM-UP APPROACH 18
3.6.2 TOP-DOWN APPROACH 18
3.7 DATA TRIANGULATION 19
3.8 VALIDATION 19
4 MARKET DYNAMICS 20
4.1 OVERVIEW 20
4.2 DRIVERS 21
4.2.1 GROWING PREVALENCE OF CHRONIC DISORDERS 21
4.2.2 INCREASED BURDEN OF TARGET DISEASES 21
4.3 RESTRAINTS 22
4.3.1 STRINGENT REGULATORY FRAMEWORK 22
4.3.2 HIGH COSTS OF ADVANCED TECHNOLOGIES 22
4.4 OPPORTUNITIES 22
4.4.1 INCREASING OUTSOURCING FROM HOSPITALS 22
5 MARKET FACTOR ANALYSIS 23
5.1 VALUE CHAIN ANALYSIS 23
5.1.1 R&D 24
5.1.2 POST-SALES MONITORING 24
5.2 PORTER'S FIVE FORCES MODEL 25
5.2.1 THREAT OF NEW ENTRANTS 25
5.2.2 BARGAINING POWER OF SUPPLIERS 26
5.2.3 THREAT OF SUBSTITUTES 26
5.2.4 BARGAINING POWER OF BUYERS 26
5.2.5 INTENSITY OF RIVALRY 26
5.3 IMPACT OF COVID-19 ON THE GCC CLINICAL REFERENCE LABORATORIES MARKET 26
5.3.1 IMPACT ON CLINICAL TRIALS 26
5.3.2 IMPACT OF LABORATORY DEVELOPED TESTS (LDT) TO DIAGNOSE COVID-19 27
5.3.3 IMPACT ON TEST VOLUME, REVENUE, AND STAFFING 27
6 GCC CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE 28
6.1 OVERVIEW 28
6.2 HOSPITALS 29
6.3 STAND ALONE 30
6.4 CLINIC BASED 30
7 GCC CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION 31
7.1 OVERVIEW 31
7.2 CLINICAL TRIALS 32
7.3 LABORATORY MEDICINE 33
8 GCC CLINICAL REFERENCE LABORATORY MARKET, BY COUNTRY 34
8.1 OVERVIEW 34
8.2 SAUDI ARABIA 37
8.3 UNITED ARAB EMIRATES 37
8.4 KUWAIT 38
8.5 QATAR 39
8.6 OMAN 39
8.7 BAHRAIN 40
8.8 IRAQ 40
9 COMPETITIVE LANDSCAPE 41
9.1 OVERVIEW 41
9.2 COMPETITIVE BENCHMARKING 42
9.3 THE LEADING PLAYER IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE GCC CLINICAL REFERENCE LABORATORY MARKET 43
9.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 43
9.4.1 SERVICE LAUNCHES/PRODUCT APPROVALS 43
9.4.2 PARTNERSHIPS & AGREEMENTS 43
10 COMPANY PROFILES 44
10.1 UNILABS 44
10.1.1 COMPANY OVERVIEW 44
10.1.2 FINANCIAL OVERVIEW 44
10.1.3 SERVICES OFFERED 44
10.1.4 KEY DEVELOPMENTS 45
10.1.5 SWOT ANALYSIS 45
10.1.6 KEY STRATEGIES 45
10.2 QUEST DIAGNOSTICS INCORPORATED 46
10.2.1 COMPANY OVERVIEW 46
10.2.2 FINANCIAL OVERVIEW 46
10.2.3 SERVICES OFFERED 47
10.2.4 KEY DEVELOPMENTS 47
10.2.5 SWOT ANALYSIS 48
10.2.6 KEY STRATEGIES 48
10.3 SRL DIAGNOSTICS 49
10.3.1 COMPANY OVERVIEW 49
10.3.2 FINANCIAL OVERVIEW 49
10.3.3 SERVICES OFFERED 50
10.3.4 KEY DEVELOPMENTS 50
10.3.5 SWOT ANALYSIS 51
10.3.6 KEY STRATEGIES 51
10.4 NEUBERG DIAGNOSTICS 52
10.4.1 COMPANY OVERVIEW 52
10.4.2 FINANCIAL OVERVIEW 52
10.4.3 SERVICES OFFERED 52
10.4.4 KEY DEVELOPMENTS 52
10.4.5 SWOT ANALYSIS 53
10.4.6 KEY STRATEGIES 53
10.5 ALPHA MEDICAL LABORATORY 54
10.5.1 COMPANY OVERVIEW 54
10.5.2 FINANCIAL OVERVIEW 54
10.5.3 SERVICES OFFERED 54
10.5.4 KEY DEVELOPMENTS 54
10.5.5 KEY STRATEGIES 54
10.6 MENALABS 55
10.6.1 COMPANY OVERVIEW 55
10.6.2 FINANCIAL OVERVIEW 55
10.6.3 SERVICES OFFERED 55
10.6.4 KEY DEVELOPMENTS 55
10.6.5 KEY STRATEGIES 55
10.7 FREIBURG MEDICAL LABORATORY MIDDLE EAST (L.L.C) 56
10.7.1 COMPANY OVERVIEW 56
10.7.2 FINANCIAL OVERVIEW 56
10.7.3 SERVICES OFFERED 56
10.7.4 KEY DEVELOPMENTS 56
10.7.5 KEY STRATEGIES 57
10.8 MEDSOL DIAGNOSTICS 58
10.8.1 COMPANY OVERVIEW 58
10.8.2 FINANCIAL OVERVIEW 58
10.8.3 SERVICES OFFERED 58
10.8.4 KEY DEVELOPMENTS 58
10.8.5 KEY STRATEGIES 58
10.9 THUMBAY LABS 59
10.9.1 COMPANY OVERVIEW 59
10.9.2 FINANCIAL OVERVIEW 59
10.9.3 SERVICES OFFERED 59
10.9.4 KEY DEVELOPMENTS 59
10.9.5 KEY STRATEGIES 59
10.10 PURE LAB 60
10.10.1 COMPANY OVERVIEW 60
10.10.2 FINANCIAL OVERVIEW 60
10.10.3 SERVICES OFFERED 60
10.10.4 KEY DEVELOPMENTS 60
10.10.5 SWOT ANALYSIS 61
10.10.6 KEY STRATEGIES 61
11 APPENDIX 62
11.1 REFERENCES 62
11.2 RELATED REPORTS 62
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LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS & LIMITATIONS 12
TABLE 2 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 15
TABLE 3 GCC: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 29
TABLE 4 GCC: CLINICAL REFERENCE LABORATORY MARKET, FOR HOSPITALS, BY COUNTRY, 2018-2030 (USD MILLION) 29
TABLE 5 GCC: CLINICAL REFERENCE LABORATORY MARKET, FOR STAND ALONE, BY COUNTRY, 2018-2030 (USD MILLION) 30
TABLE 6 GCC: CLINICAL REFERENCE LABORATORY MARKET, FOR CLINIC BASED, BY COUNTRY, 2018-2030 (USD MILLION) 30
TABLE 7 GCC: CLINICAL REFERENCE LABORATORY MARKET, FOR APPLICATION, BY TYPE, 2018-2030 (USD MILLION) 32
TABLE 8 GCC: CLINICAL REFERENCE LABORATORY MARKET, FOR CLINICAL TRIALS, BY COUNTRY, 2018-2030 (USD MILLION) 32
TABLE 9 GCC: CLINICAL REFERENCE LABORATORY MARKET, FOR LABORATORY MEDICINE, BY COUNTRY, 2018-2030 (USD MILLION) 33
TABLE 10 GCC: CLINICAL REFERENCE LABORATORY MARKET, BY COUNTRY, 2018-2030(USD MILLION) 35
TABLE 11 GCC: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 36
TABLE 12 GCC: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 36
TABLE 13 SAUDI ARABIA: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 37
TABLE 14 SAUDI ARABIA: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 37
TABLE 15 UNITED ARAB EMIRATES: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 37
TABLE 16 UNITED ARAB EMIRATES: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 38
TABLE 17 KUWAIT: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 38
TABLE 18 KUWAIT: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 38
TABLE 19 QATAR: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 39
TABLE 20 QATAR: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 39
TABLE 21 OMAN: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 39
TABLE 22 OMAN: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 39
TABLE 23 BAHRAIN: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 40
TABLE 24 BAHRAIN: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 40
TABLE 25 IRAQ: CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2018-2030 (USD MILLION) 40
TABLE 26 IRAQ: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2018-2030 (USD MILLION) 40
TABLE 27 MAJOR PLAYERS IN THE GCC CLINICAL REFERENCE LABORATORY MARKET 41
TABLE 28 MOST ACTIVE PLAYER IN THE GCC CLINICAL REFERENCE LABORATORY MARKET 43
TABLE 29 SERVICE LAUNCHES/PRODUCT APPROVALS 43
TABLE 30 PARTNERSHIPS & AGREEMENTS 43
TABLE 31 UNILABS: SERVICES OFFERED 44
TABLE 32 UNILABS: KEY DEVELOPMENTS 45
TABLE 33 QUEST DIAGNOSTICS INCORPORATED: SERVICES OFFERED 47
TABLE 34 SRL DIAGNOSTICS: SERVICES OFFERED 50
TABLE 35 NEUBERG DIAGNOSTICS: SERVICES OFFERED 52
TABLE 36 NEUBERG DIAGNOSTICS: KEY DEVELOPMENTS 52
TABLE 37 ALPHA MEDICAL LABORATORY: SERVICES OFFERED 54
TABLE 38 MENALABS: SERVICES OFFERED 55
TABLE 39 FREIBURG MEDICAL LABORATORY MIDDLE EAST (L.L.C): SERVICES OFFERED 56
TABLE 40 MEDSOL DIAGNOSTICS: SERVICES OFFERED 58
TABLE 41 THUMBAY LABS: SERVICES OFFERED 59
TABLE 42 PURE LAB: SERVICES OFFERED 60
LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 10
FIGURE 2 GULF COOPERATION COUNCIL (GCC) CLINICAL REFERENCE LABORATORY MARKET 11
FIGURE 3 BOTTOM-UP AND TOP-DOWN APPROACHES 17
FIGURE 4 MARKET DYNAMICS: ANALYSIS OF THE GCC CLINICAL REFERENCE LABORATORY MARKET 20
FIGURE 5 DRIVER IMPACT ANALYSIS 21
FIGURE 6 RESTRAINT IMPACT ANALYSIS 22
FIGURE 7 VALUE CHAIN ANALYSIS: GCC CLINICAL REFERENCE LABORATORY MARKET 23
FIGURE 8 PORTER'S FIVE FORCES ANALYSIS: GCC CLINICAL REFERENCE LABORATORY MARKET 25
FIGURE 9 GCC CLINICAL REFERENCE LABORATORY MARKET, BY SERVICE, 2021 & 2030 (USD MILLION) 28
FIGURE 10 GCC: CLINICAL REFERENCE LABORATORY MARKET, BY APPLICATION, 2021 & 2030 (USD MILLION) 31
FIGURE 11 GCC CLINICAL REFERENCE LABORATORY MARKET, BY COUNTRY 2021 & 2030 (USD MILLION) 35
FIGURE 12 GCC: CLINICAL REFERENCE LABORATORY MARKET SHARE (%), BY COUNTRY 2021 36
FIGURE 13 BENCHMARKING OF MAJOR COMPETITORS 42
FIGURE 14 UNILABS: SWOT ANALYSIS 45
FIGURE 15 QUEST DIAGNOSTICS INCORPORATED: FINANCIAL OVERVIEW SNAPSHOT 46
FIGURE 16 QUEST DIAGNOSTICS INCORPORATED: SWOT ANALYSIS 48
FIGURE 17 SRL DIAGNOSTICS: FINANCIAL OVERVIEW SNAPSHOT 49
FIGURE 18 SRL DIAGNOSTICS: SWOT ANALYSIS 51
FIGURE 19 NEUBERG DIAGNOSTICS: SWOT ANALYSIS 53
FIGURE 20 PURE LAB: SWOT ANALYSIS 61
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