Middle East Medical Device Market Regulations: Navigating Compliance Across Different Regions
The Middle East medical devices market size is expected to reach USD 14.37 billion by 2030, registering to grow at a CAGR of 3.9% from 2024 to 2030 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.
Gather more insights about the market drivers, restrains and growth of the Middle East Medical Devices Market
Middle East Medical Devices Market Report Highlights
- In vitro diagnostics dominated the market and accounted for a share of 17.1% in 2023. The increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer in the region has led to a higher demand for diagnostic tests to facilitate early detection and monitoring of these conditions.
- Class II dominated the market and accounted for a share of 65.2% in 2023. This is attributed to advancements in technology and innovation driving the development of more sophisticated medical equipment, including surgical instruments and blood glucose meters.
- Hospitals accounted for the largest market revenue share of 62.8% in 2023. The increasing prevalence of chronic diseases in the region has led to a higher demand for advanced medical devices in hospitals to diagnose and treat these conditions effectively.
- Dermatology clinics & cosmetic are projected to grow at the fastest CAGR of 5.3% over the forecast period. Rising disposable incomes and a growing emphasis on aesthetics are leading to an increased demand for cosmetic procedures such as laser skin treatments, injectables, and body contouring in dermatology clinics and cosmetic centers.
List of Key Players in the Middle East Medical Devices Market
- Medtronic
- Koninklijke Philips N.V.
- GE HealthCare
- Abbott
- Smith+Nephew
- COLOPLAST
- Saudi Mais CO.
- Zimmer Biomet
- Siemens
- Roche Diagnostics
- BD
- Olympus
Order a free sample PDF of the Middle East Medical Devices Market Intelligence Study, published by Grand View Research.
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