https://www.meticulousresearch.com/product/middle-east-medical-devices-market-6101
The Middle East medical devices market is projected to reach $8.8 billion by 2031, growing at a CAGR of 4.6% during the forecast period. This growth is driven by factors such as the increasing prevalence of chronic diseases, an aging population, and technological advancements in medical devices. Growing awareness of advanced medical technologies and efforts to improve treatment accessibility further support market expansion. However, the high cost of advanced devices and limited awareness of these technologies pose challenges to the market’s growth.
Key market drivers also include the expansion of healthcare services and the rising medical tourism sector in the Middle East. Despite these opportunities, the region faces a shortage of skilled medical professionals, which could impede further growth. Major players in the market include Medtronic, Philips, GE Healthcare, Abbott Laboratories, and Siemens Healthineers, among others, which are all contributing to the technological advancement and availability of medical devices in the region.
In terms of market segments, monitoring devices are expected to dominate in 2024 due to the growing demand for real-time diagnostic testing and continuous monitoring devices for chronic conditions like diabetes. Cardiology devices, driven by the high prevalence of cardiovascular diseases in the region, are also set to have a significant market share. Hospitals and clinics are expected to be the largest end users of medical devices, driven by rising patient visits, healthcare infrastructure improvements, and medical tourism. Geographically, Saudi Arabia is expected to hold the largest share, benefiting from a combination of high healthcare expenditures, advanced infrastructure, and a rising prevalence of chronic diseases.
