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Kuwait Medical Device Market Outlook to 2022

INVC NEWS

New Delhi , 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



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