DUBLIN–(BUSINESS WIRE)–The “Kuwait Medical Device Market Outlook to 2022 – By Type (Diagnostic Imaging Products, Medical Disposables, Auxiliary Devices, Orthopedic Devices, Dental Products, Aesthetic Devices, Diabetic Products and Others)” report has been added to ResearchAndMarkets.com’s offering.
The report is useful for manufacturers, AI companies, distributors, system integrators, hospitals, diagnostic labs, doctors, end users, government, pharmacies and potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Kuwait medical device market is in its late growth stage (based on distributor model) and has a limited number of large players dominating the market. The medical devices market in Kuwait is completely import driven dominated by international brands. The medical devices market in Kuwait has witnessed growth owing to the increased participation of private players in healthcare sector.
Technological innovations and increased focus on infrastructure development has also resulted in increased demand of medical devices in Kuwait. Heavy investments in infrastructure projects are driving the growth in Kuwait. Increase in number of chronic diseases has resulted in increase in demand of healthcare facilities in the country. The end users of medical devices are government as well as private sector hospitals, clinics and primary care centers.
In terms of revenue, the market for medical devices has grown by a robust double digit CAGR driven by new product innovations and launches. The share of private sector has increased over the years due to opening up of investment opportunities.
By Type of Medical Devices
Kuwait medical devices market is dominated primarily by orthopedic devices and Auxiliary devices which constituted majority of the market share. Prosthesis, Plates, Rod, Screws and Pins are some of the commonly sold orthopedic devices in Kuwait. BIOMET is one of the leading brands in Kuwait. The company provides a variety of orthopedic devices such as bone cement and cement mixing systems, orthopedic biomaterials. Kottemann GmbH, MOPEC, Aquaria and Bioquell are some of the major manufacturers of auxiliary devices in Kuwait. Kottermann GmbH and Aquaria specializes in lab furniture.
MOPEC specializes in pathology and morgue furniture. Diagnostic imaging products and medical disposables also contributed significant share of the market. Johnson and Johnson and BD care fusion are the biggest companies in Kuwait providing medical disposable products such as syringes, needles, sutures, staples, packaging, tubing, catheters, medical gloves, gowns, masks, adhesives and sealants for wound dressing.
Trade Scenario for Kuwait Medical Device Market
Kuwait medical device market is completely import driven. The import value witnessed a robust CAGR of 10% from 2012 to 2017 driven by rise in sales of orthopedic appliances, hearing aids, and radiotherapy equipments, and operating tables and medical furniture. There is no manufacturing facility of medical devices located in Kuwait. Some leading import destinations for Kuwait medical devices are USA and Japan.
The Kuwait medical device market is concentrated with few large players which have acquired a lion share in terms of revenues.
Canon, Philips Health, GE Healthcare, B.Braun are some key players. GE Healthcare has the majority of share in the market.
Major Distributors include Al Essar group, Advanced Technology company, Tareq Company etc. Among these players, Advanced Technology Company (ATC) has the majority of the market share. These distributors buy the medical devices in bulk. The distributors have to bear the freight charges because of absence of any localized manufacturer of medical devices.
The market for medical devices in Kuwait is expected to register a double digit CAGR of 11.0%. Demand for medical devices will be largely driven by private sector investments, increase in number of chronic diseases and healthcare infrastructure development. A number of healthcare projects are under construction in Kuwait.
This will lead to increase in large number of medical devices in the country. New technologies such as artificial intelligence will be widely applied in the sector in various domains, although currently Middle East is yet to stride in these advanced technologies, as high level medical devices is limited to few projects in the market which is expected to grow by manifold in the near future.
Launch of new technologically advanced products is one of the biggest reasons for their growth. Rise in obesity in Kuwait will increase the demand for diabetes testing devices. In terms of sales channel, offline sales will continue to dominate the market share but its share will decrease in the next five years.
- General Electric Healthcare
- Canon Medical System (Toshiba Medical)
- Johnson and Johnson
- Advanced Technology Company
- Al Essa Group
- Bader Sultan
- Safwan Trading
- Al-Sayer Medical
- Central Circle
- Fourth Dimension
For more information about this report visit https://www.researchandmarkets.com/r/316hve
Laura Wood, Senior Press Manager
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