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Saudi Arabia Immunohematology Market was Valued at USD 28.33 Million in 2022 and is Expected to Reach USD 38.88 Million by 2030 Growing at a CAGR of 4.16% Over the Forecast Period.

Infograph - Saudi Arabia Immunohematology Market was Valued at USD 28.33 Million in 2022 and

By Infinium Global Research Feb, 2024

The Saudi Arabia immunohematology market was valued at USD 28.33 million in 2022 and is expected to reach USD 38.88 million by 2030 growing at a CAGR of 4.16% over the forecast period. The growth of the immunohematology market in Saudi Arabia is attributed to the increasing prevalence of thalassemia and sickle cell disease in the country. Thalassemia and sickle cell diseases require frequent blood transfusions, which increase the demand for blood and blood products, and increase the risk of transfusion infections. Further, sickle cell diseases are a common genetic disorder in Saudi Arabia, with a high prevalence rate in the Eastern and Southern regions of the country. Further, growing healthcare sector due to strong government support will influence the market growth. Saudi Arabia has been experiencing significant growth in its healthcare infrastructure, which has resulted in increased demand for advanced medical technologies and services. The Saudi Arabian Government considers healthcare to be very important, and it spends a lot of money on it. Compared to other countries in the Gulf Cooperation Council, Saudi Arabia spends the most on healthcare, about 60 percent of the total spending. Moreover, the Saudi Arabian government has been investing heavily in the healthcare sector, with a focus on improving the quality of healthcare services and expanding access to medical care. This has resulted in the development of new hospitals and medical centers, which require state-of-the-art immunohematology equipment and supplies. However, high cost of maintenance of instruments and devices may restrain the market. The high cost of maintaining instruments and devices is another factor that could restrain the growth of the immunohematology market in Saudi Arabia. The cost of maintaining and servicing medical instruments and devices and equipment, such as blood grouping and cross-matching machines, can be very high. Additionally, increasing adoption of automation and technology in the healthcare is expected to create ample growth opportunities. With the advancement of technology, blood banks and transfusion centers can now automate their processes and procedures, ensuring efficiency, accuracy, and safety. Therefore, increasing investment in the development of advanced and high-tech transfusion centers will provide ample growth opportunities during the forecast period 2023-2030.

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