- As the UAE are almost entirely reliant on imports of medical devices, abundant opportunities are available for medical device companies to meet the country's growing demand.
- Increasing presence of Global Manufacturers into the UAE Medical Devices market will support the dominance of Distributor Mediated sales as these companies require local distributor partnerships to sell their devices in UAE.
- Innovative surgical interventions like autonomous surgical robots and intelligent balloon catheters will enhance outcomes of complex surgeries and enable new forms of minimally invasive surgeries.
GURUGRAM, India, Dec. 7, 2021 /PRNewswire/ -- Increased Demand for Radiography Services: High incident rates of lung and heart diseases prompt hospitals to make enhancements for medical equipment, thus, increasing the demand for general radiography devices like electro-cardiographs, ultrasound, x-ray and others. The major advantages of digital imaging are cost-effectiveness and easy accessibility. The hospitals are able to cut the cost by lowering the film price, reducing the requirement of storage space, and decreasing the number of people required to run the services and archive sections.
Rise of Telemedicine Industry: The Telehealth market in UAE is forecast to reach over $536.5 Mn by 2025, expanding @25% CAGR from 2020 to 2025. The highest growing segment within telehealth will be virtual visit market, which is expected to reach $280.7 Mn by 2025 representing @30.7% CAGR. The market holds many opportunities to grow owing to the lack of access to care and rising provider adoption of telemedicine, rising consumer demand and patient acceptance, and enhanced quality of care.
New Healthcare Infrastructure Projects: Upcoming healthcare infrastructure projects in UAE such as Saudi German Hospital Dubai, consisting of a 150-bed hospital and medical college complex will increase the demand for medical devices. The department of Economic Development in UAE is also boosting investment proposals in the medical industries sector, including facilitating procedures, giving priority to local medical products and strengthening investment partnerships, which will result in the growth of Local Manufactured Products in UAE.
The Philippines Market Device Industry was valued at PHP ~ million in 2015 and registered a positive growth during the review period of 2015-2020 reaching to a value of PHP ~ in 2020. The market is currently in Growth Stage, with an increase in number of hospitals, high prevalence of chronic diseases, rising instances of heart and kidney failures, expanding elderly population, awareness towards health checkups, incoming of medical tourism and onset of COVID-19 pandemic as some of the key drivers for the market. Medical Device Industry in the Philippines is currently import oriented, especially for highly technological machineries such as Diagnostic Imaging, Cardiac Devices, Respiratory products and others. Current demand reflects healthcare requirements for growing incidence of hypertension, diabetes/kidney diseases, TB/respiratory ailments, cancer, and some incidence of HIV/AIDS.
Brazil medical device market grew at a single-digit growth rate over the review period 2013-2018. The market growth was supported by an increase in public healthcare expenditure, growth in healthcare infrastructure in the country and a rise in the elderly population. The market was observed to be in the growth stage and will continue to remain so in the coming years. The demand for low-cost devices and cheap cost per test along with a change in decision making authority from doctors to hospital administration has significantly affected the growth in the market and has changed the procurement landscape in the industry.
India Medical Device market grew at a double-digit growth rate over the review period FY'2013-FY'2018. The market growth was supported by increase in public healthcare expenditure, growth in healthcare infrastructure in the country by expansion in established hospitals and increase in number of hospitals and rise in elderly population. The market was observed in growth stage and will continue to remain so in the forecasted period, FY'2018-FY'2023. The demand for personalized patient care and change in decision making authority from doctors to hospital administration has significantly affected the growth in the market.
As deaths due to drug overdose have been increasing, a number of countries are introducing strict laws with respect to drug consumption; this has given a push to the market of drug abuse testing devices. Initially, traditional samples such as urine and oral fluid were used the most, however, with time there has been a shift towards more convenient samples such as hair and fingerprint devices which use sweat as its sample to detect the drugs that an individual has consumed. As more workplaces and schools are introducing random drug testing practices, the demand for drug abuse testing devices has been constantly increasing.
The growth in Asia Pacific orthopedic market has been driven by the increase in the proportion of geriatric population in the Asian regions, especially in China and Japan. The growth in artificial joints market is majorly due to the increasing number of osteoporoses cases that has been the major growth driver. Physicians have been the major influencer for most of the companies and have been driving major imported brands in most of the regions except China. Increased focus on R&D by domestic players has forced the MNCs to innovate new products for the Asian market.