New Delhi, December 27, 2018: The report titled “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)” covers various aspects including introduction, market size, competition, market segmentation by end user (Public Sector and Private Sector), by type of medical devices (Diagnostic Imaging Products, Medical Disposables, Auxiliary Devices, Orthopedic Devices, Dental Products, Aesthetic Devices, Diabetic Products and Others), growth drivers, restraints, key regulations future outlook and analyst recommendation.
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
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.
Market Size: 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.
Competitive Landscape
The Kuwait medical device market is concentrated with few large players which have acquired a lion share in terms of revenues.
Major manufacturers: 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.
Future Outlook
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.
Key Segments Covered:-
Types of Medical Devices:-
Orthopedic Devices
Auxiliary Devices
Medical Disposables
Diagnostic Imaging/ Radiology Equipments
Diabetic Products
Dental Products
Aesthetic Devices
Type of End Users:-
Public Sector
Private Sector
Type of sales Channel:-
Offline Sale
Online Sale
Key Target Audience:-
Hospitals
Doctors
Pharmacies
Medical Devices Manufacturers
Medical Devices Distributors
Diagnostic Labs
Ministry of Health
Period Captured in the Report:-
2012-2017 – Historical Period
2018-2022 – Future Forecast
Companies Covered:-
Major Manufacturers:-
General Electric Healthcare
Canon Medical System (Toshiba Medical)
Johnson and Johnson
Medatronics
Major Distributors:-
Advanced Technology Company
Al Essa Group
Bader Sultan
Safwan Trading
Al-Sayer Medical
Yiaco
Central Circle
Fourth Dimension
Tareq
Key Topics Covered:-
Kuwait Medical Device Market Overview
Kuwait Healthcare Market Overview
Kuwait Medical Device Market Overview
Kuwait Medical Device Market Value Chain
Kuwait Medical Devices Market Size, 2012-17
Kuwait Medical Devices Market Segmentation by End User, 2017
Kuwait Medical Devices Market Segmentation by Type of Medical Devices, 2017
Kuwait Medical Devices Market Segmentation by Type of Sales Channel, 2017
Kuwait Medical Device Competitive Landscape, 2017
Parameter of Competition for Manufacturers in Kuwait Medical Devices Market
Competitive Scenario of Major Manufacturers
Competitive Scenario of Major Distributors
Parameter of Competition for Distributors in Kuwait Medical Devices Market
Major Mergers And Acquisitions in Kuwait Medical Devices Market
Kuwait Medical Devices Future Outlook, 2017-22
Kuwait Medical Devices Market Size, 2017-22
Future Projections to Kuwait Medical Devices Market Segmentation, 2017-22
Porter 5 Forces Analysis of Kuwait Medical Device Market
Analyst Recommendations
For more information on the research report, refer to below link:-
https://kenresearch.com/healthcare/kuwait-medical-device-market.html
Corporate Comm India(CCI Newswire)
