Showing posts with label Diagnostic Medical Devices Market Kuwait. Show all posts
Showing posts with label Diagnostic Medical Devices Market Kuwait. Show all posts

Thursday, March 19, 2020

Kuwait Medical Devices Market Research Report: Ken Research


How has Kuwait Medical Devices Market Evolved?
Kuwait medical device market is in its late growth stage and has a limited number of large players dominating the market. The history of medical devices dates back to early 1910s when first hospital in Kuwait was constructed. The medical devices market in Kuwait is largely import driven. The medical devices market in Kuwait has witnessed growth owing to the increased participation of private sector in healthcare. Technological innovations and increased focus on infrastructure development has also resulted in increase in demand of medical devices in Kuwait. There market consists of all the major players in global medical devices industry. Heavy investments in healthcare infrastructure projects with aid of private sector are driving the growth. Increase in number chronic diseases have 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 at a CAGR of ~% from USD ~ million in 2012 to USD ~ million in 2017. Increased investment in developing new facilities and upgrading existing infrastructure are the key drivers for demand of medical devices in Kuwait. The share of private sector as an end user has increased over the years due to opening up of investment opportunities in the market. The products that exist in the market ranges from simple syringes and medical chairs to complex MRI and CT scanning machines. The market dynamics of a product changes from product to product.

Kuwait Medical Devices Market Segmentation
By Type of End User:
There are two types of end user in the market. In 2017 the market share of public sector was ~% and rest of the ~% of the demand was generated by private sector. The revenue generated from sale of medical devices to public sector was USD ~ Million and for private sector was USD ~ Million. High share of public sector is mainly on account of large number of Kuwaitis visiting public hospitals which offer free services.  Subsidized fee for non Kuwaitis also support more patients visiting public hospitals.

By Type of Sales Channel:
Sales channels for medical devices are offline sales and online sales. In 2017, offline sale constituted majority of the demand for medical devices in Kuwait, accounting for ~% of the total sales in the country, online sales constitute the rest ~%. The total revenue generated from sales of medical devices through offline sales was USD ~ Million. Whereas for online sales the total revenue generated was USD ~ million. Most of the major companies use offline sales as the government sector procure the medical devices through offline channel only.

By the Type of Medical Devices:
The market of Kuwait medical devices is dominated primarily by orthopedic devices and Auxiliary devices which constitute ~% and ~% of the market share respectively. The revenue generated from sales of these two segments in 2017 was USD ~ Million and USD ~ Million respectively. The large market share of these two segments is because of large number of diabetic patients in Kuwait Diagnostic imaging products and medical disposables also contribute significant share of the market.

Competitive Landscape in Kuwait Medical Devices Market
The Kuwait medical device market is concentrated with a few large global players and has generated a majority share in terms of revenues. Kuwait medical device market is majorly import driven. The import value of the medical devices witnessed an increase from USD ~ Million in 2012 to ~ Million in 2017, due to increasing expenditure on healthcare sector. There is no manufacturing facility of medical devices located in Kuwait. Some leading import destinations for Kuwait medical devices are USA, Japan, Germany, and India.

Major manufacturers:
Canon, Philips Health, GE Healthcare, B.Braun etc. GE Healthcare has the majority of share in the market. GE healthcare, Siemens and Canon are in diagnostic imaging sector whereas Johnson and Johnson is in the medical disposable sector.

Major Distributors:
Al Essar group, Advanced Technology Company, Tareq Company are major distributors. Among these players Advanced Technology Company (ATC) has the majority of the market share. These distributors buy the medical devices in bulk to cut on the freight charges due to absence of any localized manufacturer of medical devices.

The products used in the market vary with the type of condition and where they are used. The products range from simple syringes and medical chairs to complex technology using products such as computer tomography machine, MRI scanner. The market dynamics of the medical device ranges from device to device.

The market is dominated by players who are present in high end products. These manufacturers differentiate themselves on prices, technology and value added services.

Kuwait Medical Devices Market Future Outlook and Projections
The market for medical devices in Kuwait is expected to register a five year CAGR of ~% from 2017 to 2022 as the market size is expected to grow from USD ~ Million in 2017 to USD ~ Million in 2022. The growth is expected to be less than the growth from 2012 to 2017 as the decrease in oil prices has resulted in decrease in government spending in the country. Demand for medical devices will be largely driven by private sector investments, increase in number of chronic diseases and healthcare infrastructure development. This will lead to increase in large number of medical devices in the country. New technologies such as artificial intelligence will be widely applied across various domains, which is currently limited to few projects and is expected to grow by manifold in the near future.

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
Tareqs

For More Information on the research report, refer to below link:-

Related Reports:-


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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249