Market Introduction
This research report provides insights into the Middle East & Africa Medical Devices market. A medical device can be a machine, instrument, apparatus, an article that is used to diagnose, monitor, and therapeutic purposes. A medical device plays an essential role, such as detection, measurement, restoration, and modification of the structure or a function of the body due to health problems or chronic medical conditions. There are various types of medical devices, which include glasses, pacemakers, wheelchairs, X-ray machines, MRI, CT scans, and many more.
Market Overview and Dynamics
The Middle East & Africa Medical Devices is expected to reach US$ 21,802.3 million in 2027 from US$ 16,597.4 million in 2019; it is estimated to grow at a CAGR of 3.6% from 2020 to 2027. The Middle East & Africa region is witnessing significant growth in its healthcare sector. Middle East & Africa consists of three major countries namely United Arab Emirates (UAE), Saudi Arabia and South Africa. The market is driven by the factors such as increasing government initiatives, growing number of research and development activities, and increasing number of market players in the region. The government of Saudi Arabia is promoting and offering several incentives for domestic manufacturing for the medical devices, which in turn can drive the overall market growth in this country. In December 2019, Saudi Arabia’s Food and Drug Authority launched a single platform to submit and authorize new medical applications. This single platform enables a single point of contact to deal with stringent regulations and guidelines, which will eventually increase the number of medical devices introductions in the market, leading to Saudi Arabia medical devices market growth. Further, the government and other organizations conduct conferences, symposiums, and meetings to educate the population and spread awareness about the technologically advanced and high standard medical device available in the market. For instance, the country organized a meeting on Parkinson's Disease and Other Movement Disorders in Jeddah in April 2019. After the success of this meeting, in November 2020, the 3rd Saudi Movement Disorders Conference will be held In Jeddah to focus on more therapies in the treatment of Parkinson's disease and other movement disorders. These constructive factors are projected to drive the Saudi Arabia medical devices market during the forecast period.
Key Market Segments
In terms of product type, the In Vitro Diagnostics (IVD) segment held the largest share of the market in 2019; However, neurology devices is estimated to register the highest CAGR of 8.8% in the market during the forecast period. The growing hospital incidences of hospital acquired infections and new developments by the market players is likely to drive the market growth. In terms of function, the Diagnostic and Monitoring segment held a larger share of the market in 2019 and surgical segment is estimated to register a higher market share in the market during the forecast period. In terms of end use, the hospital segment held a larger share of the market in 2019 and also is estimated to register a higher market share in the market during the forecast period.
Major Sources and Companies Listed
The World Health Organization (WHO), Food and Drug Administration (FDA), are some of the major primary and secondary sources for the Middle East & Africa Medical Devices market included in the report.
Reasons to buy the report
Middle East & Africa Medical Devices Market Segmentation
By End Use
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 16,597.4 Million |
| Market Size by 2027 | US$ 21,802.3 Million |
| CAGR (2020 - 2027) | 3.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Medical Devices Market is valued at US$ 16,597.4 Million in 2019, it is projected to reach US$ 21,802.3 Million by 2027.
As per our report Middle East & Africa Medical Devices Market, the market size is valued at US$ 16,597.4 Million in 2019, projecting it to reach US$ 21,802.3 Million by 2027. This translates to a CAGR of approximately 3.6% during the forecast period.
The Middle East & Africa Medical Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Medical Devices Market report:
The Middle East & Africa Medical Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Medical Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Medical Devices Market value chain can benefit from the information contained in a comprehensive market report.
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