Middle East Medical Device Market Worth USD 31.6 Billion By 2025: Grand View Research, Inc.
The Middle East medical devices market is expected to
reach USD 31.6 billion by 2025, according to a new report by Grand View
Research, Inc. This growth is anticipated to be a result of increasing
geriatric population, and increasing incidences of conventional diseases such
as diabetes and obesity. Other major drivers include technological innovations
and increasing demand and acceptance of such technologies in Middle Eastern
countries majorly in UAE, Saudi Arabia and Qatar.
Furthermore, rising competitive
pressure is witnessed in the Middle East medical device market as a result of
high demand and low supply ratio. Hence, it can be predicted that the Middle
East medical device market may witness lucrative growth over the forecast
period.
Another factor responsible for
this propelling growth is the supportive reimbursement pathways adapted by the
Middle Eastern countries majorly to ensure quality healthcare provisions for
every civilian. Major developments are witnessed in terms of regulatory
structures as well, with an agenda to provide monetary benefits to the
civilians and improve overall lifestyle of the people.
Kuwait medical device market,
by U.S. FDA classification, 2014 - 2025 (USD Million)
Browse full research report on Middle East Medical Device Market: http://www.grandviewresearch.com/industry-analysis/middle-east-medical-device-market
Further key findings from
the report suggest:
- Based on
product type, In-Vitro Diagnostics(IVD) is expected to dominate the market
as of 2016. Furthermore, neurology device segment is anticipated to grow
at the fastest CAGR owing to the factors such as growing incidence of
conventional diseases, augmenting research and technological advancement
offered by key industry players to meet the current unmet needs.
- The medical
devices are also analyzed depending upon the U.S. FDA classification, with
Class II being the dominant as well as the fastest growing segment during
the forecast period. The Class II device segment is anticipated to capture
over 60.0% of the market share by 2025.
- Geographic
expansion into Qatar, U.A.E. and Iraq by well-established players is
anticipated to promote the fastest growth for the region.
- Few of the
industry players for the Middle East medical devices market include
Medtronic, Johnson & Johnson, Siemens, Roche, Becton Dickinson and
Abbott Laboratories
- Entry of
various new players coupled with collaborative efforts by existing players
is expected to be witnessed over the forecast period.
- For instance,
In December 2016, Becton Dickinson announced a research collaboration with
a leading global organization the Juvenile Diabetes Research
Foundation(JDRF) that would be funding their research for type 1 diabetes.
This is anticipated to enable BD’s focus on enhancing technology
supporting extended wear insulin infusion set.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/middle-east-medical-device-market-analysis
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, the company offers market intelligence studies ensuring relevant and
fact-based research across a range of industries including technology,
chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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