A medical device is defined as any instrument, apparatus, machine, appliance, in vitro reagent or calibrator, which can be used alone or in combination for human beings for one or more of the specific reasons for monitoring, treatment, diagnosis, prevention of disease.
UAE Medical Devices Market Analysis, 2021 research report depicts a deep dive market analysis of statistics of UAE Medical Devices market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
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 2021-2026F. The growth of the market is accredited to surging demand for innovative new devices, burgeoning prevalence of lifestyle-disease such as obesity and diabetes, a significant surge in the number of clinics and increasing government investment on healthcare infrastructure. Moreover, the strong presence of the giant market player, the subsequent rise in the import of medical devices as the country is import driven market along with snowballing government focus on the campaign to increase medical tourist is strongly contributing toward the growth of the market in coming years.
Hospital Segment Registers Fastest Growth
Based on End-user, Hospital segment is projected to grow at a fastest rate in the UAE Medical Devices market in 2020. The significant surge in health problems such as diabetes and heart and cardiovascular diseases, bolstering government inclination toward the expansion of medical device sectors and growth in elderly populace proliferating the demand for diagnosis and treatment are the factors placing a lucrative opportunity for the growth of the Medical Devices market UAE in the near future as revealed by the MarkNtel Advisors’ research report “UAE Medical Devices Market Analysis, 2021”.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||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.|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
The UAE Medical Devices market are primarily impacted by the COVID-19 pandemic. The demand for disposable medical devices equipment such as needles and syringes, PPE and ventilator has upsurged due to rising cases of covid-19. However, the demand for other procedures witnessed a significant decline in the Q2 phase. The market is getting back on the track which is projected to promulgate the growth of the market in the forthcoming timeline.