The mounting number of incidences of cancer, cardiac and other non-communicable diseases are the major factors for the growth of the precision medical imaging market. Moreover, with burgeoning government’s and public sector investments in the healthcare sector and in research and development are projected to propel the demand for precision medical imaging in Middle East and Africa region. Moreover, the rising geriatric population and growing mortality rate, is also emerging as the growth driver for the demand.
According to the MarkNtel Advisors’ research report, “Middle East and Africa Precision Medical Imaging Market Analysis, 2020”, the CAGR is expected to hold a substantial percentage during 2020-25. Saudi Arabia and UAE led the regional sales. The Saudi Arabian medical devices market was estimated to be around USD 2 billion and is growing annually at growth rate of 10%.
The development of a healthcare system under UAE vision 2021 coupled with a rising number of hospitals is further expected to add to the growing demand for precision medical imaging market during the forecast period. In September 2018, the healthcare sector received USD1.20 billion from the federal budget, which is further expected to induce the demand.
Surging Medical Tourism in Middle East Region
With the continuous rise in the population in the Gulf region, there has been a rise in the mortality rate and prevalence of chronic diseases thereby, increasing medial activities in the region. The total number of lung cancer cases in Saudi Arabia totaled around 24,485, 4,707 in UAE, 3,322 in Oman and 1,260 in Qatar, as reported by WHO. Healthcare infrastructure is developing continuously at a decent pace and paving the way for medical tourism in Middle Eastern countries. Some of the infrastructure projects undergoing in Middle Eastern countries are Danat Al Emarat Hospital for Women and Children – Phase 2, Thumbay Hospital Dubai Expansion, King Khalid Medical City and King Faisal Medical City as revealed by MarkNtel Advisors in their research report “Middle East and Africa Precision Medical Imaging Market Analysis, 2020”.
According to the MarkNtel Advisors the major leading players are Siemens Healthineers, Philips Healthcare, GE Healthcare, Canon Medical System and others. GE healthcare launched a revolutionary Invenia ABUS 2.0 in Middle East market setting up new standards for detection of breast cancer in 2019. This device can improve breast cancer detection by 37.5% over mammography alone.
“Middle East and Africa Precision Medical Imaging Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for global neonatal care providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Application (Cardiovascular, Neurology, Gastroenterology, Infectious diseases, Oncology, Others)
2. By End User (Hospitals, Specialty care centers, imaging centers)
3. By Region (North America, Latin America, Europe, Middle East and Africa and Asia-Pacific)
4. By Country (UAE, Saudi Arabia, Oman, Bahrain, Kuwait, Qatar, South Africa, Others)
5. By Company (Siemens Healthineers, Philips Healthcare, GE Healthcare, Canon Medical System and others)