Dubai – Mubasher: Medlab Middle East saw a 6% increase year-on-year in attendees to more than 25,661 during the 2019 edition which witnessed over $152 million worth of business deals.

The largest medical laboratory exhibition and congress in the Middle East and North Africa (MENA) region will be held from 3 to 6 February 2020 at the Dubai World Trade Centre, according to a statement on Wednesday.

The value of clinical laboratory services in the Middle East and Africa (MEA) region is likely to achieve a compound annual growth rate (CAGR) of 3.8% to more than $14 billion until 2023, Wise Guy Research Consultants expected.

Globally, clinical laboratory services are projected to increase to $333 billion over the same period.

The growth in clinical laboratory services is mainly driven by ageing population, technological developments as well as fast advances in research and development (R&D).

In addition, government support for the healthcare sector is expected to increase as Sharjah’s Healthcare City and the 2015 Dubai Clinical Services Capacity Plan are forecast to inject billions of dollars in investments to meet the needs in the market.

“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,” Tom Coleman, group exhibition director at Informa Markets Healthcare, which organises the show, highlighted.

Last year, the event witnessed several business deals, including “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.”

In addition, an additional $329 million worth of deals were signed over a period of twelve months following the show, statistics revealed.