Egypt Diagnostic Labs Market to Grow with an Impressive CAGR until 2026 | TechSci Research
Increased diagnostic procedures are driving the growth of Egypt Diagnostic Labs Market, in the forecast period, 2022-2026.
The surging demand for the early and efficient diagnosis of the highly spreading diseases is driving the growth of the Egypt diagnostic labs market in the upcoming five years. Also, rapidly increasing instances of chronic diseases have scared the population and the government of the country to a large extent thus the population is inclined toward regular checkups and diagnostic tests thus supporting the growth of the Egypt diagnostic labs market in the next five years.
Additionally, increasing geriatric population of the country is further substantiating the growth of the Egypt diagnostic labs market in the future five years. The geriatric population is highly susceptible to various chronic and infectious diseases, due to their weaker immune systems and are supporting the market growth in the future.
Moreover, demand for decreasing the patient burdens on hospitals ad clinics for diagnosis of the appearing symptoms is further aiding the growth of the Egypt diagnostic labs market in the forecast years until 2026. Private fundings, and governmental aids with favorable schemes are supporting the robust growth of the Egypt diagnostic labs market in the forecast period.
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The Egypt diagnostic labs market segmentation is based on provider type, test type, end user, competitional landscape, and regional distribution. Based on provider type, the market is further bifurcated into hospital, stand-alone center, and diagnostic chains. Hospitals are anticipated to dominate the market segment and register largest revenue shares in the upcoming five years on the account of increasing patient count.
Moreover, advanced technology and required financial ailment is feasible and easily available in hospitals, and thus supports the growth of the Egypt diagnostic labs market in the next five years. Also, dependency of the patients over hospitals for the complete diagnosis and treatment is completed in hospitals that makes hospitals more preferable for the patient, that drives the growth of the Egypt diagnostic labs market in the future five years.
Stand-alone centers are also expected to register significant growth in the next five years on the grounds of increasing demand for removing the overburdening from the hospitals. Increasing patient counts are putting the hospitals under the pressure, thus stand alone diagnostic labs make it easier and efficient for the diagnosis of the various diseases and infections, thus decreasing the overburdening from hospitals and also substantiating the growth of the Egypt diagnostic labs market in the future five years.
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Test type segment is further fragmented into radiology, and pathology. Radiology sub-segment is anticipated to hold the largest revenue shares of the market and dominate the market in the upcoming five years on the account of increased government expenditure on radiology sector. Moreover, increasing demand for the innovative products and equipment for the radiography analysis is further supporting the growth of the Egypt diagnostic labs market in the next five years.
Also, technological advancements like 3D imaging, mobile and portable systems, along with increased service offerings is supporting the growth of the Egypt diagnostic labs market in the future five years. Increasing instances of infectious diseases and a recent situation of pandemic due to widespread COVID-19 virus are expected to influence the growth of the sub-segment, pathology, and thus further substantiate the growth of the Egypt diagnostic labs market in the forecast period.
A partial list of major market players of the Egypt diagnostic labs market includes:
- NSA Diagnostic Laboratories
- Cairo Labs (Elaj Companies)
- Life Lab
- Synlab Egypt
- Alfa Laboratories
- Al Mokhtabar - Moamena Kamel Laboratories
- Al Borg Laboratories
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“Demand for diagnostic tests from corporate clients is rapidly increasing. The recent advancement of COVID-19 has created concerns and driven the demand for the diagnostic tests in the corporate offices. The companies are focused on creating sanitized environment and are focused for their employee health conditions. They have made it mandatory for the employees to get a recent RT-PCR test done to establish precaution against coronavirus. Also, increasing awareness among the population regarding health and maintenance of regular checkups through diagnostic tests are increasing the instances of walk-ins and thus driving the growth of the sub-segment as well as Egypt diagnostic labs market in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Egypt Diagnostic Labs Market By Type (Blended, Portland, Others), By End Use (Residential, Non-Residential), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Egypt diagnostic labs market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Egypt diagnostic labs market.
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