Middle East Medical Device Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

The global Middle East Medical Device market size is expected to be worth around US$ 41.6 billion by 2030, according to a new report by Vision Research Reports.

The global Middle East Medical Device market size was valued at US$ 29.6 billion in 2020 and is anticipated to grow at a CAGR of 10.5% during forecast period 2021 to 2030.

Growth Factors

 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.

Report Highlights

The Middle East medical device market has been analyzed based on In-Vitro Diagnostics(IVD), Cardiology, Orthopedics, Diagnostic imaging, Ophthalmic, General and plastic surgery, Drug delivery, Endoscopy, Dental, Wound management, Diabetic care, Nephrology, Ear, Nose and Throat, General hospital and Healthcare, Neurology, Skin Care & Aesthetics and other products. In-Vitro Diagnostics (IVD) dominated the segment as of 2020, with over 18.0% of the market share.

The factors responsible for the dominance of this segment in the field of medical devices in the Middle East include an increased rate of a sedentary lifestyle, thus, increasing the rate of conventional diseases such as diabetes, cardiovascular diseases, obesity, and many more. Also, the rising rate of the geriatric population results in higher demand for IVDs in the Middle East.

The neurology devices segment is anticipated to witness maximum growth during the forecast period with a CAGR of over 14.2%. This extensive growth is predicted due to increasing investments in R&D of neurological devices and technologies. The increasing availability of sophisticated equipment to monitor and track brain and nerve activity to facilitate better diagnostics and treatments to patients is a major driver for the growth of this segment in the Middle East.

Based on the U.S. FDA classification, the Middle East medical devices market is segmented into Class I, II, and III devices. As of 2020, Class II forms the largest as well as the fastest-growing segment over the forecast period.

Over 60.0% of medical devices fall under the Class II category. Formerly, Class I devices were predominant with an extensive amount of market players. This has led to saturation of the market and a standstill in the growth, as per innovation is concerned.

Class II devices are higher risk devices that require greater regulatory controls and are more critical as compared to Class I devices. Thus, self-declaration is illegal. An increased growth rate is witnessed in this segment due to rising incidences of conventional diseases in the Middle Eastern region. This results in an increased demand for technological advancements for more efficacious and high precision devices.

Based on end-users, the Middle East medical devices market is segmented into hospitals, clinics, laboratories, blood banks, pharmacies, standalone clinics, dermatology clinics & cosmetic centers.

As of 2016, hospitals are the predominant segment with over 60.0% of the market share. This is anticipated to be due to the increasing patient footfall in a hospital as compared to any other end-user segment. The number of hospitals is increasing in the Middle Eastern region due to the increasing population and increasing demand for diagnosis and treatment. In the 2020 budget, the Middle East government allocated USD 27.7 billion towards further development of the hospital sector.

The dermatology clinics & cosmetic center segments are anticipated to witness maximum growth during the forecast period with a CAGR of over 6.0%. Rising demand for non-invasive dermatological and cosmeceutical procedures along with increasing aesthetic awareness has accelerated the adoption of dermatology and cosmetology centers in the Middle East.

Regionally, the Kingdom of Saudi Arabia is the most dominant one and is the largest revenue generator for the Middle East medical device market, as of 2020. This dominance is anticipated to be due to enhanced public sector spending, with more than 60.0% share contributed by the Ministry of Health (MoH). An increase is witnessed in budget allocation and expansion in the facilities such as hospitals and clinics catering to the increasing population.

Factors identified to support this growth include the rapidly evolving healthcare infrastructure and inclusion of research activities by the medium as well as small scale players. Increasing urbanization, expanding the health insurance market, growing population, and tremendous healthcare developments are the major drivers resulting in the growth of medical devices in this region.  Furthermore, the augmenting figure of patients within the region coupled with flexible regulatory guidelines are expected to promote the region as a key destination.

Key Players

Medtronic, Johnson & Johnson, Siemens, Roche, Becton Dickinson, Abbott Laboratories, Novartis, Olympus Corporation, General Electric, Biomerica, Baxter International, Smith and Nephew, BioMérieux, Philips and Zimmer Biomet

Market Segmentation

  • Type of devices

    • In Vitro Diagnostics(IVD)

    • Cardiology

    • Orthopedics

    • Diagnostic imaging

    • Ophthalmic

    • General and plastic surgery

    • Drug delivery

    • Endoscopy

    • Dental

    • Wound management

    • Diabetic care

    • Nephrology

    • Ear, Nose, and Throat

    • General hospital and Healthcare

    • Neurology

    • Skin Care & Aesthetics

    • Others

  • U.S. FDA classification

    • Class I

    • Class II

    • Class III

  • The end-user

    • Hospitals

    • Clinics

    • Laboratories

    • Blood Banks

    • Pharmacies

    • Stand Alone Clinics

    • Dermatology Clinics & Cosmetic

    • Others

  • Regional Outlook 

    • Saudi Arabia

    • UAE

    • Qatar

    • Kuwait

    • Oman

    • Bahrain

    • Egypt

    • Iran

    • Iraq

    • Israel

    • Cyprus

    • Jordan

    • Turkey

    • Lebanon

    • Palestine

The Middle East Medical Device market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Middle East Medical Device market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Middle East Medical Device market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Middle East Medical Device market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Middle East Medical Device market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Middle East Medical Device capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Middle East Medical Device by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Middle East Medical Device market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Middle East Medical Device market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Middle East Medical Device market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Middle East Medical Device industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Middle East Medical Device market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Middle East Medical Device market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Middle East Medical Device market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Middle East Medical Device market. These factors have benefited the growth of the global market for Middle East Medical Device. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Middle East Medical Device. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Middle East Medical Device are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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