UAE has among the most advance healthcare system in the GCC region. The UAE Medical Devices market is witnessing a robust growth owing to the factors such as introduction of favorable government guidelines for medical devices, increasing inclination to boost medical tourism along with rising lifestyle-related disease burden and surging penetration of health insurance. Besides these, burgeoning investment on healthcare infrastructure development, escalating new technologies and the research in medical devices and booming geriatric population are the factors placing a positive impact towards the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report “UAE Medical Devices Market Analysis, 2021”, the UAE Medical Devices market is anticipated to grow at a CAGR of around 8.4% during 2021-26F. The outbreak pandemic has a dual impact on the market. The significant rise in the COVID-19 cases fuel the demand for critical pieces of equipment such as PPE ventilators and testing kits coupled with significant shortages of these devices has also been witnessed in the region. Along with this, the demand for aesthetic, dental procedures have been delayed due to this. However, as the market is recovering at a robust rate the market is expected to propel in the forthcoming timeline.
“UAE Medical Devices Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Medical Devices providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Dubai Exhibits the Fastest Growth
Dubai is projected to grow at the fastest rate in the UAE Medical Devices market in 2019. The growth of the market is attributed to snowballing government and private healthcare sector spending to provide healthcare solutions to the residents, expats, increasing innovations and technological advancements in medical devices and burgeoning prevalence of conventional diseases such as diabetes and obesity. Moreover, rising adoption of sedentary lifestyle by the people surging the burden of lifestyle-disease in the region. Besides this, booming geriatric population propelling the demand for diagnosis and treatment and soaring investment toward expansion of facilities such as hospitals and clinics are fueling the growth of Medical Devices Market in the forthcoming period as stated in MarkNtel Advisors’ research report “UAE Medical Devices Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the UAE Medical Devices market are Medtronic Plc, Johnson & Johnson Middle East FZ-LLC, Abbott Laboratories, Becton, Dickinson & Company (BD), B. Braun Medical Gulf FZ-LLC, Siemens Healthineers AG, GE Healthcare, Stryker ESCS BV, Boston Scientific Corp., Fujifilm Middle Eat FZE etc.
Key questions answered in the study: