BMI View: The United Arab Emirates' medical device market will record lower growth in an era of slower economic growth. With rising healthcare costs and a period of lower oil prices, the government will increase private sector participation to stave off the erosion of state revenues. Population growth, a changing epidemiology , a growing medic al tourism industry, healthcare infrastructure developments, an expan ding health insurance , digital transformation and new technologies will remain key market drivers.
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Latest Updates And Key Forecasts
We maintain the market will register a 2015-2020 CAGR of 8.2%, which will take the value to AED5.3bn (USD1.4bn) in 2020. The UAE will record slower but sustainable economic growth over the next five to ten years, in a context of lower oil prices, which will slow down medical device consumption over the forecast period.
We anticipate import performance will be lower in the coming years, tempered by slower economic growth. Recent monthly import performance has been increasingly negative. Imports fell by 13.8% to USD205.8mn in the three months to April 2016, up from a contraction of 2.9% to USD931.2mn in the 12 months to April 2016.
The UAE will remain a regional re-export base, despite negative export performance hindered by a strong dirham pegged to the dollar and a climate of lower oil prices in the region. Exports fell by 70.0% to USD8.3mn in the three months to April 2016, up from a contraction of 16.9% to USD79.4mn in the 12 months to April 2016.
A 3D printing strategy for medical devices, led by Dubai 3D Printing Strategy, will potentially position Dubai as a manufacturing hub of 3D printed medical devices by 2030. Although still at its infancy, the strategy will need internal and external investment to become a reality at the International Centre of 3D Printing, launched at Dubai Industrial City in May 2016.
The United Arab Emirates Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in United Arab Emirates provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the United Arab Emirates Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for United Arab Emirates, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in United Arab Emirates.
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BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.