Saturday 7 December 2019
 
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MEA clinical laboratory services market to top $14bn by 2023

UAE, 15 days ago

The Middle East and Africa (MEA) clinical services market’s value is expected to reach over $14 billion by 2023, according to a report by Wise Guy Research Consultants.

The potential growth of the region’s market is further underlined by global growth predictions of over $333 billion during the same time period.

Medlab Middle East, a leading medical laboratory exhibition and congress in the Middle East and North Africa (Mena) region, has revealed a 6 per cent year-on-year (YoY) increase in attendees to over 25,661 and more than $152 million worth of business generated during the 2019 edition of the show.

Several drivers are pushing regional market growth including an ageing population, emerging economies, technological advances, and the increasing pace of R&D.

A number of government efforts such as investment from Sharjah’s Healthcare City and the 2015 Dubai Clinical Services Capacity Plan are expected to invest billions of dollars into filling the gaps in the clinical services market.

Tom Coleman, group exhibition director, Informa Markets Healthcare, said: “Medlab Middle East has an integral role in developing the value of laboratory medicine and shaping the future of the Mena region’s healthcare sector.”

“Under a central show theme this year of Transforming tomorrow’s diagnostics, the Medlab Middle East platform will showcase how innovative technological advances are crucial to the development of the future of laboratory medicine in the region,” he added.

This year, in line with the show’s aim of transforming tomorrow’s diagnostics, Medlab Middle East 2020 will also feature the inaugural Transformation Hub, a dedicated zone showcasing advanced clinical laboratory products by SMEs and new-to-market pioneers transforming diagnostics and advancing healthcare.

The zone will also feature the Transformation Talks sessions where manufacturers will introduce new launches and in-demand solutions. Some of the key areas that will be highlighted at the hub include automation, information technology and laboratory measurement testing and technology.

“This dedicated area amongst the busy exhibition floor will become home to medical laboratory SMEs of the world, providing a platform to showcase the industry’s latest gadgets, equipment and technology,” Coleman added.

Last year, Medlab Middle East provided a platform for exhibitors to do business and sign deals over the course of the exhibition. This included a joint venture between Indian Neuberg Diagnostics and US-based OptraScan Inc. to launch a Global TelePath Network for the pathologist community in UAE, India and South Africa making on-demand cutting-edge digital pathology solutions available to leading hospitals in the Middle East region.

Statistics revealed exhibitors generated a further $329 million in business deals over the subsequent 12 months after the show.

In addition to the Transformation Hub, a total of 12 Continuing Medical Education (CME) multi-disciplinary conferences will take place during the four days of Medlab Middle East 2020, with over 4,550 delegates expected to attend. New tracks this year include Blood Transfusion Medicine, Laboratory Innovation, Digital Pathology and, for the first time, a dedicated Roundtable Discussion session designed to connect laboratory technologists, technicians, managers and end users through a more intimate format.

These will be complimented by returning accredited conferences Laboratory Management, Immunology, Clinical Chemistry, Microbiology, Histopathology, Molecular Diagnostics & Genetics, Haematology and Point of Care Testing.

Organised by Informa Markets, an estimated 600+ exhibitors from more than 35 countries and 25,800 professional visits are expected to attend the 2020 edition of the show which takes place from 3 - 6 February at the Dubai World Trade Centre. With 14 dedicated country pavilions already confirmed, attendees can expect to explore new exhibitors from South Korea, Argentina and India, it stated. – TradeArabia News Service




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