UAE Cardiovascular Devices Market Outlook
The UAE Cardiovascular Devices Marke size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031 expanding at a CAGR of 5.9% during 2023 – 2031. The growth of the market is attributed to the rising prevalence of cardiovascular disorders, as well as technological improvements.
Cardiovascular devices are medical equipment that are used to monitor, prevent, diagnose, and treat disorders that affect the cardiovascular system or the heart.
Electrocardiography (ECG), pacemaker, stent, defibrillator, cardiac catheter, guidewire, heart valve, event monitor, and many other cardiovascular devices are available in the market. These gadgets help people with cardiac problems to maintain normal heart function.
The COVID-19 pandemic gave rise to more patients with cardiovascular problems. Many nations' public health systems have been overwhelmed due to the result of the COVID-19 crisis, highlighting the critical requirement for long-term investment in health systems. However, sales in the medical technology & imaging industry are declining as a result of fewer procedures being performed and equipment procurement being delayed or postponed. Additionally, virtual consultations with healthcare specialists are likely to become the standard way of care delivery.
In the UAE, cardiovascular illnesses are primary causes of death and morbidity. According to a report published in the Hamdan Medical Journal, acute myocardial infarction (AMI) accounted for 22% of cardiovascular fatalities in 2018, followed by cerebrovascular illness (16%), ischemic heart disease (6%), and hypertension (5%).
Market Trends, Drivers, Restraints, and Opportunities
- Rising geriatric population is driving the market growth.
- Increases incidence of disorders such as hypertension, diabetes, dyslipidemia, and obesity as a result of lifestyle changes can contribute to market growth.
- Stringent licensing restrictions and the high cost of items and procedures can hamper the market growth.
- According to a Homeland Security Department advisory published in 2019, up to 750,000 Medtronic PLC cardiac devices have a major cybersecurity vulnerability that can allow an attacker with advanced insider knowledge to damage a patient by modifying programming on an implanted defibrillator, which is projected to hamper the market.
- The measures to limit the number of infections caused by CIEDs can create opportunities for the key players.
Scope of UAE Cardiovascular Devices Market Report
The report on the UAE cardiovascular devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cardiovascular Devices Market - UAE Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Device Type (Diagnostic & Monitoring Device [Electrocardiogram (ECG), Remote Cardiac Monitoring, and Others], Therapeutic and Surgical Devices [Cardiac Assist Devices, Cardiac Rhythm Management Devices, Catheter, Grafts, and Others])
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Country Scope
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The UAE
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Medtronic Plc.; Abbott Laboratories.; Advanced Healthcare LLC.; GE Healthcare.; and Al Naghi Medical Co.
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UAE Cardiovascular Devices Market Segment Insights
Diagnostic & monitoring segment is expected to grow at a rapid pace
Based on device types, the cardiovascular devices market is divided into diagnostic & monitoring devices and therapeutic and surgical devices. The diagnostic & monitoring devices segment is divided into electrocardiogram (ECG), remote cardiac monitoring, others. The therapeutic and surgical devices segment is segregated into cardiac assist devices, cardiac rhythm management devices, catheter, grafts, and others.
The diagnostic & monitoring segment is expected to grow at a rapid pace during the forecast period due to technological advancements such as incorporation of advanced algorithms and workflow improvement features, such as simplified operations, touchscreen systems, portability, wireless features, and better connectivity with cardiovascular information systems (CVIS), electronic medical records (EMRs), and ECG management systems.
In the Arab Health 2020 initiative, the Ministry of Health and Prevention (MoHAP) recently unveiled an AI-based gadget to detect cardiac arrhythmia. It is a type of ECG that is performed with the goal of preventing cardiac disease. Additionally, the prevalence of hypertension is propelling the segment growth.
Segments
Device Type
- Diagnostic & Monitoring Device
- Electrocardiogram (ECG)
- Remote Cardiac Monitoring
- Others
- Therapeutic and Surgical Devices
- Cardiac Assist Devices
- Cardiac Rhythm Management Devices
- Catheter
- Grafts
- Others
Region
Key Players
Competitive Landscape
Key players competing in the UAE cardiovascular devices market include Medtronic Plc.; Abbott Laboratories.; Advanced Healthcare LLC.; GE Healthcare.; Al Naghi Medical Co. Some of these players are adopting various strategies, such as partnerships, acquisitions, and product launches, to gain a larger share in the market. The cardiovascular devices market is fairly consolidated, with the top players controlling majority of market share.
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