Market Insights Health Medical Technology

Medical Devices - United Arab Emirates

United Arab Emirates

The projected revenue for the Medical Devices market market in the United Arab Emirates is expected to reach US$2,605.00m in 2024.
Among the various markets, Cardiology_Devices is anticipated to be the largest, with a projected market volume of US$441.30m in the same year.
It is estimated that the revenue will experience an annual growth rate of 9.04% from 2024 to 2029, resulting in a market volume of US$4,015.00m by 2029.
When compared globally, the United States is expected to generate the highest revenue, reaching US$181.00bn in 2024.
The United Arab Emirates is experiencing a rapid growth in the adoption of advanced medical devices, revolutionizing healthcare delivery in the country.

Key regions: Germany, Spain, Japan, United Kingdom, United States

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Analyst Opinion

The Medical Devices market in United Arab Emirates is experiencing significant growth and development due to various factors.

Customer preferences: Customers in the United Arab Emirates have shown a growing preference for advanced medical devices that offer innovative features and improved patient outcomes. They are increasingly seeking devices that are easy to use, provide accurate results, and offer convenience in terms of portability and connectivity. Additionally, there is a rising demand for devices that can be used for home healthcare purposes, as more individuals are opting for self-monitoring and remote healthcare services.

Trends in the market: One of the key trends in the Medical Devices market in United Arab Emirates is the adoption of digital health technologies. With the increasing penetration of smartphones and the internet, there is a growing interest in mobile health apps and wearable devices that can track and monitor health conditions. These technologies enable individuals to take control of their own health and make informed decisions about their well-being. Furthermore, there is a shift towards the use of artificial intelligence and machine learning algorithms in medical devices, which can help in early diagnosis, personalized treatment plans, and improved patient care. Another trend in the market is the focus on preventive healthcare. The government of United Arab Emirates has been actively promoting preventive healthcare measures to reduce the burden on the healthcare system. This has led to an increased demand for medical devices that can detect diseases at an early stage and enable timely intervention. Devices such as screening tools, diagnostic imaging equipment, and genetic testing kits are gaining popularity as they can help in early detection and prevention of diseases.

Local special circumstances: The United Arab Emirates has a rapidly growing aging population, which is driving the demand for medical devices. As the elderly population increases, there is a higher prevalence of chronic diseases and age-related conditions, leading to a greater need for medical devices for monitoring and managing these conditions. Additionally, the government has been investing in healthcare infrastructure and facilities, which has created a favorable environment for the growth of the Medical Devices market.

Underlying macroeconomic factors: The United Arab Emirates has a strong economy and a high per capita income, which allows individuals to afford advanced medical devices. Furthermore, the government has been investing heavily in healthcare and has implemented policies to encourage innovation and entrepreneurship in the medical devices sector. These factors, along with a favorable regulatory environment, have attracted both domestic and international manufacturers to invest in the market and introduce new products. In conclusion, the Medical Devices market in United Arab Emirates is witnessing significant growth and development due to customer preferences for advanced and innovative devices, the adoption of digital health technologies, the focus on preventive healthcare, the growing aging population, and the favorable macroeconomic factors. These factors are driving the demand for medical devices and creating opportunities for manufacturers and suppliers in the market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.