Middle East Bioinformatics Market Analysis

Middle East Bioinformatics Market Analysis


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Middle East Bioinformatics market is projected to grow from $614 Mn in 2022 to $2200.66 Mn by 2030, registering a CAGR of 17.30% during the forecast period of 2022-30. The main factors driving the growth would be a decrease in the cost of genetic sequencing per base and the growing need for precision medicine. The market is segmented by technology and by application. Some of the major players include G42 Healthcare, IBM Life Sciences, Agilent Technologies, Qiagen, and Thermo Fisher Scientific.

ID: IN10MEHS001 CATEGORY: Healthcare Services GEOGRAPHY: Middle East AUTHOR: Neha Davda

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Middle East Bioinformatics Market Executive Summary

Middle East Bioinformatics market is projected to grow from $614 Mn in 2022 to $2200.66 Mn by 2030, registering a CAGR of 17.30% during the forecast period of 2022-30. The GDP and healthcare spending of Middle Eastern nations differ significantly. Some Middle Eastern countries, including Qatar and the United Arab Emirates, have high GDPs and high healthcare spending. Others, like Yemen and Syria, have lower GDPs and spend less money on healthcare.

Bioinformatics is a scientific area combining biology and information technology. Data generation, data warehousing, data mining, data management, and other methods are used in bioinformatics. Bioinformatics software and tools are used as integrated solutions to provide statistical techniques and data processing algorithms for applications such as next-generation sequencing, genomic and proteomic structure modeling, and three-dimensional drug discovery. The bioinformatics market in the Middle East is expected to grow rapidly in the coming years.

middle east bioinformatics market anaysis

Market Dynamics

Market Growth Drivers

The Middle East bioinformatics market is expected to be driven by factors such as a decrease in the cost of genetic sequencing per base and a growing need for precision medicine. Moreover, all age groups are more susceptible to periodontal disease in the Middle East. Consequently, the availability and use of intraoral scanners are predicted to spur the market's expansion as a result of the rise in periodontal dental problems.

Market Restraints

High research and development costs for bioinformatics tools and software, lack of skilled personnel, and limited funding limit the growth of the bioinformatics market in the region. Moreover, the infrastructure required to support a robust bioinformatics industry is not completely developed in many Middle Eastern nations. This can include having high-speed internet, contemporary labs, and enough processing power.

Competitive Landscape

Key Players

  • G42 Healthcare
  • IBM Life Sciences
  • Agilent Technologies
  • QIAGEN
  • Thermo Fisher Scientific

Notable Recent Deals

November 2022: The MOU between G42 Healthcare and Asa Ren intends to develop and enhance genomic sequencing, bioinformatics skills, and digital health solutions to assist the National Genomics Initiatives of the Indonesian Government and the digitization of the healthcare industry.

Healthcare Policies and Regulatory Landscape

The Middle East's regulatory environment for healthcare services can differ widely between nations and significantly affect how care is delivered. The regulatory landscape for the bioinformatics sector in the UAE is still relatively young and evolving. The Ministry of Health and Prevention is responsible for regulating and approving medical equipment (MOHAP). The Dubai Health Authority (DHA) is in charge of regulating medical technology in the emirate of Dubai.

In Turkey, the Ministry of Health, which is in charge of the system's general management and administration, oversees the Turkish healthcare system. The Ministry of Health (MOH) and the Saudi Arabian General Investment Authority (SAGIA) are in charge of Saudi Arabia's comprehensive healthcare system.

Reimbursement Scenario

The Middle East's healthcare reimbursement policies can vary widely from country to country and have an effect on how easily and affordably care is provided. Government-funded programs, private insurance plans, and even a combination of both can be used as reimbursement schemes. The kinds of services that are covered and the quantity of possible reimbursement may also be limited. Patients may occasionally be required to make out-of-pocket payments for specific procedures or treatments. The number of government funds allocated overall for healthcare, the degree to which the private sector participates in the provision of care, and the scope of patient insurance coverage are all variables that might have an impact on the reimbursement scenario.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Bioinformatics Market Segmentation

By Technology (Revenue, USD Billion):

  • Knowledge Management Tools
  • Bioinformatics Platforms
  • Bioinformatics Services

By Application (Revenue, USD Billion):

  • Metabolomics
  • Molecular phylogenetics
  • Transcriptomics
  • Chemoinformatic & drug design
  • Genomics
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 20 December 2023
Updated by: Vidhi Upadhyay

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