Kuwait Medical Device Market is Expected to Grow at CAGR of 11 % from 2017-2022: Ken Research

• Badr Al Samaa Group of Hospitals is planning to open 5 Medical institutions by 2020 after it started its first hospital in Kuwait in 2017. This will increase the demand for medical devices in the country.
• Ceasing of free healthcare facilities for the Non-Kuwaitis has resulted in increase in number of patients opting for private sector hospitals. This will in turn drive the demand of medical devices from private sector.

The market for medical devices in Kuwait is expected to register moderate growth as the decrease in crude oil prices has resulted in decrease in government spending. Demand for medical devices will be largely driven by private sector investments, increase in number of chronic disease patients and investment in healthcare infrastructure development. A number of healthcare projects are under construction and this is expected to push the demand for medical devices in the country. Middle East is yet to stride into advanced technologies and applications such as artificial intelligence is expected to be widely applied across various domains of medical devices. Currently, advanced and sophisticated medical devices are limited to few projects and are expected to grow by manifold in the near future.
Opening up of new medical facilities especially in the private sector and hike in fee for treatment of non-Kuwaitis will drive the demand for medical devices as it will aid in generating funds, thus, filling in the gap for funding requirements.

Diagnostic imaging devices are expected to be one of the biggest product segments in the market due to requirement in preliminary requirement in many healthcare examinations. Launch of new and technologically advanced products is one of the biggest reasons for their growth. Rise in obesity and changes in lifestyle pattern will increase the demand for diabetic products.

Offline sales will continue to dominate the market but its share will decrease over the next five years. Direct connectivity with the manufacturer/distributor will give more confidence to customers as online presence of both direct and third party players improve. Due to training, consumable requirement, system upgrade and quick after sale service along with lot of technical and commercial formalities before finalizing the sale will drive the offline sales.

Analysts at Ken Research in their latest publication“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) and By Sales Channel (Online and Offline Sales)” believe that focus on premium quality products, opening of localized manufacturing facility, reduction in healthcare subsidy, expansion of product portfolio and increase in private sector spending will help the medical devices market to grow. 

For more information about the report, refer to below link:
https://www.kenresearch.com/healthcare/medical-devices/kuwait-medical-device-market/175023-91.html

Key Segments Covered
• Types of Medical Devices
Orthopedic Devices
Auxiliary Devices
Medical Disposables
Diagnostic Imaging
Diabetic Products
Dental Products
Aesthetic Devices
• Type of End Users
Public Sector
Private Sector
• Type of sales Channel
Offline Sale
Online Sale

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

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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