GCC Chemical Industry Outlook 2025 Sample – by Goldstein Research by Goldstein Market Intelligence

Gulf Cooperation Council (GCC) Chemical Industry Outlook

Gulf Cooperation Council (GCC) Chemical Industry Outlook 2025: Opportunity & Growth Analysis, 2018-2025

Report Code :CM 1335

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GCC Chemical Industry Outlook

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GCC Chemical Industry, 2018-2025

GCC Chemical Industry Outlook (Factors Covered in Chemical Industry Report)  Research Methodology     

Secondary Research Primary Research Data Analyzing & Market Size Estimation Research Design Bottom-Up & Top-Down Approach

 Executive Summary    

Forecast Analysis (2018-2025) Market Size (USD Billion) Market Share (%) & CAGR (%) Key Highlights of GCC Chemical Industry

 Market Environment         

GCC Economic Overview Macroeconomic Factors Impacting GCC Chemical Industry GCC Growth Analysis at Global Level Structure of GCC Chemical Industry Feedstock Overview Employment Analysis GCC Chemical Production Capacity & Capacity Utilization Analysis Investments Analysis Research & Development in Chemical Industry Outlook

 Quantitative Analysis 

Production Analysis (in USD & Volume), 2018-2025  By Product Type (Production (in USD & Volume), Production Share (%) & Y-o-Y Growth Analysis (%)), 2018-2025  Basic Chemicals  Fertilizers  Intermediaries  Polymers  Inorganic Chemicals  Chemicals & Specialties

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GCC Chemical Industry 

By Countries (Production (in USD & Volume), Production Share (%) & Y-o-Y Growth Analysis (%)), 2018-2025  Saudi Arabia  Bahrain  UAE  Kuwait  Oman  Qatar



GCC Chemical Sales Analysis (in USD), 2018-2025  By Product Type (Sales (in USD & Volume), Sales Share (%) & Y-o-Y Growth Analysis (%)), 2018-2025  Basic Chemicals  Fertilizers  Intermediaries  Polymers  Inorganic Chemicals  Chemicals & Specialties  By Countries (Sales (in USD & Volume), Sales Share (%) & Y-o-Y Growth Analysis (%)), 20182025  Saudi Arabia  Bahrain  UAE  Kuwait  Oman  Qatar



GCC Chemicals Trade Analysis (Import & Export) (in USD & Volume), 2018-2025

 Market Dynamics

 Growth Drivers  Market Restraints  Risk Analysis  Recent Trends & Developments  Opportunities for Market Players

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GCC Chemical Industry  Competitive Outlook  

Market Share of Major Players Company Profiles  SABIC  Company Synopsis  Business Strategy  Product Portfolio  SWOT Analysis  Qatar Petrochemical  Qatar Fertiliser  Petrochemical Industries Co.  The Dow Chemical Company  National Industrialization  ExxonMobil Corporation  BASF SE  Bayer AG  Arkema S.A.

 PESTLE Analysis and Value Chain Analysis of GCC Chemical Industry  Porter’s Five Force Model  Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem  Future Outlook  Concluding Remarks

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GCC Chemical Industry Outlook

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Research Methodology

Goldstein Research follows a comprehensive and rigorous research methodology to provide you accurate estimates and forecast of a particular market. We provide estimates, forecast and analysis primarily based on secondary research, primary interviews, in-house database and other free as well paid sources. Our company follows simultaneous top down and bottom approach in order to provide you the accurate market sizing. Data triangulation method is strictly followed where we triangulate the data from all the aspects, be it Function Type, application, industry verticals, material, product type or geography. In addition, the research methodology we follow is a systematic approach in order to estimate and project the market sizing keeping in mind all the ongoing and upcoming trends of the market. We conduct both primary and secondary research in order to estimate a market and validate our key findings.

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We put together our effort and prepare an inclusive questionnaire depending on the title of the market we are tracking and extract the important information we require to validate our findings. Our team of Analysts and experts dedicatedly put their effort to provide you the best possible and accurate data and analysis. Adding to that; technological, economic, cultural and social aspects along with the regulatory barriers are completely analyzed to understand the comprehensive market scenario across different geographies. Understanding the market from both buyer and seller point of view is important to track a market and provide analysis on the same. We not only provide the market data of the four geographies as a whole, namely, North America, Europe, Asia-Pacific, Latin America, Middle East & Africa and Rest of the World (RoW) but we also provide you qualitative as well we qualitative information on country level bifurcation. We at Goldstein Research provide you: • Precise Estimates and Forecast • Authentic Analysis • In-depth Data and Analysis • Authentic Sources • Reliable Data and Analysis

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GCC Chemical Industry Outlook

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GCC Chemical Industry Outlook GCC Chemical Industry Size USD (Billion). 2018-2025 XX XX

XX XX

XX% XX CAGR: (2018-2025)

XX XX XX

XX XX

XX XX XX 2017e

2018e

Source: Goldstein Research

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2020f

Basic Chemical accounted for the highest market share XX% in GCC Chemical Industry In 2017,

GCC Chemical Industry Share(%), By Product Type2017 1.60% 2.00% 18.70%

35.30%

2021f

2022f

With

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2024f

2025f

XX% share in 2017, Saudi

Arabiadominated the GCC Chemical Industry

GCC Chemical Industry Share (%), By Geography 2017 12.00% 6.00%

6.00% 8.00% 1.00%

18.60%

67.00%

23.80%

Basic Chemicals

Fertilizers

Intermediates

Polymers

Inorganic Chemicals

Chemicals and Specialties

Source: Goldstein Research

Saudi Arabia Bahrain

UAE Kuwait

Qatar

Source: Goldstein Research

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Oman

GCC Chemical Industry Outlook  The Gulf Cooperation Council (GCC) chemical industry is projected to grow by XX% CAGR over the 2018-2025 forecast period, driven by increasing investment activity and rising export demand from across the world. In a short time span, the GCC chemicals sector has grown from a small local industry to one of the largest producers of commodity chemicals in the world. Since its inception, the industry grew on average by XX% per annum during the years 1966-2016.

Economic Development

 GCC petrochemical producers invested USD XX million in R&D in 2017, a XX% increase from the previous year.

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 Number of GCC chemical patents increased by XX% per annum over the past decade, which is almost on par with global patent rate of XX%. GCC region accounts for just XX% of global R&D spending. Saudi Arabia accounted for XX% of all GCC patent applications in the field of chemistry.  GCC chemical industry produced a total of XX chemical products in 2017, registering high growth of XX% from 2016, reaching a total of XX million tons of production in 2017. It also accounted for XX% of manufacturing value added, equal to USD XX billion.

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 GCC chemical industry earned USD XX billion in sales revenue in 2017. GCC’s share in global chemical sales remained at around XX%.

Technological Advancements

Oil and Gas Industry Applications

 GCC chemical industry accounts for XX% to regional GDP. The chemical industry is one of the oldest industries in the GCC, which contributes significantly towards regional industrial and manufacturing growth.

 Although combined chemicals capacity for GCC producers is increasing, individual country performance shows a wider range of acceleration. While positive trends were observed across all countries, three high performing states stand out from their peers. Saudi Arabia, UAE and Oman have been on a growth trajectory exceeding the overall GCC trend.

Growing Investments in Chemical Industry

GCC Chemical Industry Size (USD Billion) Saudi Arabia

UAE

Qatar

2017

USD XX Billion

2025

USD XX Billion

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GCC Chemical Industry Outlook

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Economic Overview Economic Overview Economic growth in the GCC states is expected to reach XX per cent in 2018 and XX per cent in 2019, following a XX per cent contraction in 2017, as per the International Monetary Fund (IMF) in its latest forecast.

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In the near term, “higher oil prices and a slower pace of fiscal consolidation” are supporting a positive outlook for most oil exporting countries. It is predicted that a strong GDP growth in each of the six Gulf states, on the back of increased development projects. In the UAE, GDP growth is estimated to rise from XX per cent in 2017 to XX in 2018 and XX in 2019. Meanwhile Saudi’s economy is predicted to improve from a contraction of 0.9 per cent in 2017 to XX per cent in 2018 and XX per cent in 2019.

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Bahrain, Kuwait, Oman and Qatar are projected to post GDP growth of XX per cent, XX per cent, XX per cent and XX per cent respectively in 2019. This is mainly due to the implementation of public investment projects, including those consistent with the five-year development plan in Kuwait, infrastructure investment projects ahead of the FIFA 2022 World Cup in Qatar (where the effect of the rift with Saudi Arabia has been contained), and ongoing preparations for Expo 2020 in the UAE. In Bahrain, the expected fiscal consolidation is projected to dampen non-oil activity, despite rising aluminum production capacity. Despite major economic diversification efforts, oil continues to dominate and shape the macroeconomic outlook for GCC economies. With elevated oil production levels and notably higher oil prices compared to last year, the GCC economy is forecast to rebound from an eight-year low of XX% in 2018 to XX% in 2019 – though growth remains below the 2010-2016 average of XX %. Looking ahead, the growth outlook for oil exporters remains subject to significant uncertainty about the future path of oil prices. Oil prices rose above $XX a barrel in June 2018 — the highest level since November 2014 — before dropping back to about $XX a barrel. Oil exporters would be exposed to a slowdown in economic activity in China, the euro area, and the United States, given the concentration of their oil exports to these countries, as well as the impact of lower oil prices triggered by a slowdown in global growth. Risks from escalating global trade tensions, further tightening of financial conditions, the oil price trajectory, and geopolitical developments cloud the outlook. Fiscal and structural reforms to increase resilience and promote private sector growth need to be sustained and even accelerated if the region is to become a place where all citizens have the equal opportunity to build a more prosperous future.

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Macroeconomic Factors Impacting GCC Chemical Industry Macroeconomic Factors Impacting GCC Chemical Industry Economy of GCC Countries

2016 was a year of volatility across many sectors and regions. Most headlines were dominated by low oil prices which have dropped by about XX% since 2013, causing macro-economic instability that hinders job creation and slows down growth. The reduction in oil prices has impacted negatively public finances considering that Xx% of regional governments’ revenues are generated by oil related sectors. Economic growth in the GCC in 2016 was the slowest in several years, reflecting the fall of global energy prices.

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The low oil price environment in 2016 provided fresh impetus for GCC countries to diversify their economies and fiscal revenue streams away from hydrocarbons. In line with this objective, GCC governments have implemented key measures such as fuel subsidies reduction and rationalization of public expenditure. Additional measures to cope with the ‘new normal’ of low oil prices are also in the pipeline, including plans to introduce a value-added tax (VAT) in 2018 which is aimed at reducing the spill-over impact of oil price volatility on GCC economies.

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Economic contribution of the GCC chemical industry

The value addition of the GCC chemical industry is estimated at about USD XX billion, equal to XX% of regional manufacturing value added. Among other manufacturing sectors, this is one of the highest contribution to manufacturing value added, proving the industry’s vital role in the industrial development of the region. Of all other sectors only refining comes close this figure, accounting for about XX%. The chemical industry in Oman and Qatar has the highest contribution to manufacturing value added. In Qatar the industry accounts for XX% of manufacturing value added and for about XX% in Oman. This compares to XX% and XX% respectively in 2001, marking the largest increase of chemicals value addition among all GCC states.

GCC GDP by Main Economic Activities, 2017 XX%

Crude petrol eum a nd natural ga s

XX%

Agri cul ture & Fi shi ng

XX%

Manufacturi ng

XX%

Fi nance, real estate and bus i nes s s ervi ces Tra ns port, stora ge a nd communi cation

XX%

Tra de, resta ura nts a nd hotel s XX% XX%

Construction El ectri ci ty and wate

XX%

Others

Source: Goldstein Research

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Chemical Production Capacity & Capacity Utilization Analysis GCC Chemical Production Capacity (Metric Tons) & Share (%), 2016-2017 Production Capacity (MTPA) XX

Production Capacity Share (%), 2017 XX Basic Chemicals

XX XX% XX% XX%

XX XX

Fertilizers XX%

Intermediates

Polymers XX%

Inorganic Chemicals

XX XX

Chemicals and Specialties

XX% 2016

2017

Source: Goldstein Research

Capacity Utilization in the GCC Chemical Industry XX%

XX%

XX% XX%

XX%

XX% XX%

XX%

XX% XX% XX%

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Source: Goldstein Research

Global Chemical Capacity Utilization (1987-2016)

Capacity Utilization %

XX% XX%

XX%

XX% Global Capacity Utilization Average (1987-2008)

XX%

Source: Goldstein Research

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XX%

Market Environment

Contribution of chemical industry to manufacturing value added, 2017

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Similar data representation for remaining chapters in market environment

Other Manufacturi ng

Bahrai n UAE Kuwa i t

XX%

Chemi cal s

XX%

Saudi Arabi a

XX%

GCC

XX%

Qata r

XX%

Oman XX%

XX%

XX% XX%

XX%

XX% XX%

XX%

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XX%

GCC Chemical Industry Outlook

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GCC Chemical Industry: Trade Analysis

GCC Chemical Industry Trade, 2018-2025

Year

Import (USD Billion)

Import (Million Tons)

2017e

2018e

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Export (USD Billion)

Export (Million Tons)

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2023f

2024f

2025f

2019f

2020f

Source: Goldstein Research

2021f

2022f

Source: Goldstein Research

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GCC Chemical Industry: Production Analysis GCC Chemical Production (Million Tons) & Y-O-Y Growth Rate (%), 2018-2025 XX% XX XX XX XX XX

XX% XX% XX%

XX%

XX XX

XX%

XX% XX%

XX%

XX% 2017e

2018e

2019f

2020f

2021f

2022f

2023f

2024f

2025f

Source: Goldstein Research

GCC Chemical Production (USD Billion) & Y-O-Y Growth Rate (%), 2018-2025 XX% XX XX

XX XX XX

XX%

XX% XX%

XX%

XX XX

XX%

XX% XX%

XX%

XX% 2017e

2018e

2019f

2020f

2021f

2022f

2023f

2024f

Source: Goldstein Research

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2025f

GCC Chemical Industry: Production Analysis, By Product Type GCC Chemical Production Share (%), By Product Type, 2018-2025

1.60% 2.00% Basic Chemicals

XX% XX%

18.70% 35.30%

Fertilizers

XX% XX%

Intermediates

2017

Polymers

XX%

2025 18.60%

Inorganic Chemicals

XX%

23.80%

Chemicals and Specialties

Source: Goldstein Research

GCC Basic Chemicals Production (USD Billion) & Y-O-Y Growth Rate (%), 2018-2025 XX% XX XX

XX%

XX XX

XX% XX%

XX%

XX XX

XX%

XX% XX%

XX%

XX% 2017e

2018e

2019f

2020f

2021f

2022f

2023f

2024f

Source: Goldstein Research

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2025f

GCC Chemical Industry: Production Analysis, By Countries GCC Chemical Production Share (%), By Countries, 2018-2025

12.00% XX%

Saudi Arabia

XX%

Bahrain

6.00% 6.00%

XX%

2017

XX% XX%

UAE

Kuwait

2025

8.00% 1.00%

XX% Oman

67.00%

Qatar

Source: Goldstein Research

Saudi Arabia Chemical Production (USD Billion) & Y-O-Y Growth Rate (%), 2018-2025 XX% XX XX

XX%

XX XX

XX% XX%

XX%

XX XX

XX%

XX% XX%

XX%

XX% 2017e

2018e

2019f

2020f

2021f

2022f

2023f

2024f

Source: Goldstein Research

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2025f

Market Environment

Contribution of chemical industry to manufacturing value added, 2017

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Similar data representation for remaining chapters in quantitative analysis

Other Manufacturi ng

Bahrai n UAE Kuwa i t

XX%

Chemi cal s

XX%

Saudi Arabi a

XX%

GCC

XX%

Qata r

XX%

Oman XX%

XX%

XX% XX%

XX%

XX% XX%

XX%

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XX%

GCC Chemical Industry Outlook

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GCC Chemical Industry Outlook

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Growth Drivers Growing Demand for Sophisticated Products and Advanced Materials 

Total R&D spending grew at a record level of 38% year on year. The more GCC moves towards developing the specialty chemicals segment, the higher the demand for sophisticated products and advanced materials.



In terms of new awards, the key markets of Saudi Arabia and the United Arab Emirates would appear to have bottomed out as awards are relatively flat in KSA and undershooting in UAE versus 2017, but in both markets government budgets for capital projects are increasing for 2018 – which historically drives private sector sentiment. However, there is still a regional issue, with funding developments, as liquidity is attracted more to senior debt such as government and corporate high-grade debt rather than feeding the development market.



During the last 24 months in Saudi Arabia we’ve seen a significant contraction of work in pipeline or delivery fall from USD XX Trillion to USD XX Billion in early 2017 and now rapidly expanding to USD XX Trillion.

GCC Total Construction Contract (USD Billion) Award Splits by Country, 2016-2017 XX XX

XX XX

Dubai recorded the lion’s share of the project activity in the UAE in 2017, accounting for XX per cent of all construction and transport deals in the country, while project spending fell sharply in Abu Dhabi.

m a S XX

SAMPLE

XX XX UAE

KSA

Qatar

2016

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The approval of the main contract award on the expansion of Kuwait airport took that market to an all-time high of USD XX bn of project contract awards in 2017, while the start of work towards Expo 2020 in Dubai enabled the UAE also to record an increase in awards in 2017

Kuwait

Oman

The worst performing countries were Saudi Arabia, which saw a XX per cent drop in contract awards, followed by Qatar and Oman. Delays in payments from government clients were a huge problem in Saudi Arabia, Oman and the UAE, affecting the cash flow of contractors and forcing thousands of layoffs.

Bahrain

2017

Source: Goldstein Research

Impact Analysis: Growth across the various industries have direct impact on the demand of adhesives and sealants and the technological innovations further drive the market.  The recovery in oil prices in 2017 has eased some of the pressure on government finances, while the increased pace in the roll out of economic reforms will see an improvement in confidence as well as an increase in new forms of project model.

High

Medium

Impact on GCC Chemical Industry

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Low

Market Restraints Environmental Concerns  Stringent government regulations related to environment is negatively impacting the growth of chemicals market. The degrading environment and its hazardous impact on living beings has compelled the economies to take strict actions.  Construction industry is estimated to have one of the major share in producing dust, smoke and other harmful chemicals into the environment of XX% in 2017. Therefore in future restricted construction activities can lead to significant impact on the application of adhesives and sealants.  Chemical manufacturing industry also has negative impact on the environment, responsible for XX% share in the environmental pollution. Being the large scale industry it is compelled to follow stricter environmental regulations and thus the technological research and developments are hindered.

Global Construction Industry Market Share, Developed and Developing Regions, 2013-2015

Chemicals (excluding Product Segments

XX% XX% XX%

Pharmaceuticals)

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XX% XX% XX% XX% XX% 2013

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2014

Developed

Source: Goldstein Research

Impact Analysis:-

2015

2016

Source: Goldstein Research

Developing

 Rising regulatory pressure on the Silicone and Polyurethane market to reduce VOC emission from the adhesives has led the market players to focus on more innovative products that cause less harm to the environment. The introduction of new environment friendly products will likely to accelerate the market growth.

Impact on GCC Chemical Industry

High

Medium

 These government regulations are majorly going to affect the local and small manufacturers as the cost of developing new products is relatively high. Copyright

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Low

GCC Chemical Industry Outlook

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Major Players Presence-Regional Analysis

Major Players

Saudi Arabia

UAE

Bahrain

Qatar

Kuwait

Oman

SABIC Qatar Petrochemical Qatar Fertiliser Petrochemical Industries Co. The Dow Chemical Company National Industrialization

SAMPLE

ExxonMobil Corporation

BASF SE

Bayer AG

Arkema S.A.

High Penetration Copyright

Medium Penetration

Low Penetration

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GCC Chemical Industry Outlook Outlook : 2018-2025

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GCC Chemical Industry Outlook

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GCC Chemical Industry Outlook BASF (Company Overview & Business Strategy)

Founded 1865

Employees 112,000

Company Overview 



 



Headquarters Germany

Industries Catered

BASF SE , is a German multinational chemical company and largest producer of chemicals, headquartered in Ludwigshafen, Germany.

Chemicals

The Company operates through five geographic segments: North America, Latin America, Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC).

Chemical

The company provides nutrition solutions to various industries with vast product portfolio that includes vitamins and other food additives.

The Company also delivers ingredients for pharmaceuticals, personal care and cosmetics as well as household products.

Industries Catered Paints and Coatings

Agriculture Personal Care and Hygiene

e l p m a S

BASF SE. is traded on stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

Website www.basf.com

Construction

Energy and Resources

Pharmaceuticals Plastics and Rubber

Electronics and Electric Packaging and printing Home Care and I&I Cleaning

Pulp and Paper Leather, Footwear & Textile

Business Strategy



Investment, Acquisitions and Divestitures: The company is focusing towards the expansion of its product portfolio by acquiring competitive companies such as PU business activities from Polioles, Ciechs’s TDI business, Becker underwood, ITWC Inc., Novolyte Technologies, Equateq Ltd., B.C. Foam S.p.A and many more. Prior acquisitions have resulted in a wide range of outcomes, from successful introduction of new products and technologies. BASF invested USD 5.04 billion in property, plant and equipment in 2017, the company’s investment focused on the chemicals, performance products and Oil & Gas segments. On September 2017, company completed the acquisition of Guangdong Yinfan Chemistry in China. The company also sold it’s coating division to the AkzoNobel Group in December 2017.

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GCC Chemical Industry Outlook XX

Revenue (USD Billion)

BASF (Revenue & Financial Analysis) XX

2014

2015

2016

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Fig: 9-2 Material Handling Equipment Sales (Thousand Units), 2014-2017 Fig: 9-3 Hertz Corporation Corporation Revenue (USD Billion), 2014-2017 XX

SAMPLE

m a S XX

XX XX XX

XX XX 2014

Business Strategy

2015

2016

XX XX XX XX XX XX XX

2014

2015

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2016

GCC Chemical Industry Outlook BASF (Business Segments & Recent News)

9-4 BASF Revenue (%)-By Business Segments, 2017 XX%

XX%

Autom otive XX%

XX%

9-5 BASF Revenue (%), By Region, 2017

XX%

Materi al Handli ng

XX%

Japan NorthAmerica

XX%

Europe Asia XX%

Other

Key Findings  Hertz Corporation Corporation (TICO) has signed an agreement to acquire Vanderlande – the global market leader for value-added logistic process automation at airports and in the parcel market, as well as being a leading supplier for warehouses – from the company’s current owner NPM Capital

SAMPLE

 Hertz Corporation Corporation announces that it has concluded an agreement with major North American materials handling systems integrator Bastian Solutions LLC (“Bastian”) to acquire the company. The acquisition of Bastian signify Hertz Corporation' full-scale entry into the North American materials handling solutions industry amid the e-commerce boom. Strategy Business  To expand company’s presence in emerging countries, Hertz Corporation acquired the lift truck business of Taiwan-based Tailift Co., Ltd. In August 2015. By capitalizing on Tailift’s strength, company aimed to increase its sales in emerging c9oountries where market expansion is expected over the medium to long term.

Improves quality control structure and globalization: The company has adopted various methods to enhance their manufacturing structure which helps the company to improve the quality of their automobile products. Moreover, the company is looking forward towards expansion of globalization. UPS Motors adopted Hertz Corporation Global Vision in 2011 to improve the quantitative expansion across the globe. The company is investing a huge amount for research and development activities to introduce the future of material handling equipment such as hydrogen powered forklifts and automated guided vehicles. The company spend USD 588.11 Billion in 2017 for research and development of their products and services. Hertz Corporation motors is one of the largest automobile and mental health software across the globe and expected to lead other global companies in near future.

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Expert Analysis  In 2017, Saudi Arabia dominated the market; Basic chemical segment accounted for nearly XX% of the total Asia-Pacific & Africa point of care testing (POCT) devices market and remaining XX% went for different end-use segments such as homecare settings. The main reason for this despaired share is due to the rising demand for point of care testing devices in Chemical on the back of their advantages such as faster and precise results  However, as the medical device technology is on rise (especially in developing countries), the Africa therapeutic market is projected to reach USD XXXX Billion in 2023 from USD XXXX Billion in 2017, registering a growth rate of XX%. In addition to that, Africa pharmaceutical market touched USD XXXX Billion in 2017 and rising demand for prescription medicines in the region is expected to accelerate the market to USD XXXX Billion by the end of 2023  As a result, if seen from the big market point of view, blood glucose monitoring devices demand is higher in homecare settings followed by Chemical . Moreover, the rising healthcare expenditure in Africa on the back of new healthcare reforms and rising investment in healthcare sector is expected to bolster the growth of point of care testing devices in Africa & Asia-Pacific region

SAMPLE

 With USD XXXX Billion in 2017, blood glucose monitoring devices has the highest demand followed by located hemoglobin (HbA1c) testing devices and blood collection devices. The advancement in diagnostic devices are encouraging the hospitals and Chemical to adopt the advanced devices to obtain accurate diagnosis data. The precise Business Strategy data would further help the physicians to provide better treatment to the patients  Further, increasing spending by government authorities on research and development of innovative and advanced medical devices along with rising disease burden are some of the major reasons behind the spiked growth of Asia-Pacific & Africa point of care testing (POCT) devices market  Further, increasing spending by government authorities on research and development of innovative and advance connected devices along with rising disease burden are some of the major reasons behind the spiked growth of Middle East & Africa Chemical market.

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