UAE – Mubasher: The UAE’s medical device market is estimated to reach AED 5.6 billion by 2025, according to Fitch Solutions.

The industry is also expected to witness a compound annual growth rate (CAGR) of 4.4% during the period from 2020 to 2025.

The medical device market in the UAE will likely benefit from an overall strong economic performance over the coming five years, a press release on Monday cited the Q2 2021 Fitch Solutions United Arab Emirates Medical Device report.

Population growth, changing epidemiology, and a growing medical tourism industry are among the main drivers to the projected performance. This is in addition to healthcare infrastructure developments, expanding health insurance, digital transformation, and new technologies.

The medical device market includes any product used in healthcare for the diagnosis, prevention, monitoring, or treatment of illness or handicap. This is besides drugs such as consumables, diagnostic imaging, dental products, orthopedic and prosthetic products, and patient aids.

The UAE will host more than 300 speakers during the Arab Health Congress, which will take place during 21-24 June, aiming to endorse medical practice and improve patient outcomes.

Emirates Integrated Telecommunications Company (du) has recently partnered with Philips to accelerate the data-driven transformation of healthcare in the UAE, marking the first of its kind partnership.