Leading Colleges Vietnam Medical Education Industry - Ken Research

 Vietnam's education and training sector accounted for 4.0 % of the country's total GDP, contributing a GDP value of about VND 252.3 Tn in 2020, as per research published by ken research.

1. Health Professions Education and Training for Health Systems Reform Project (HPET) sourced nearly, $121 Mn in coordination with the World Bank, run by the Vietnam Ministry of Health.

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• Vietnamese Ministry of Health called for medical education reforms, which follow competency-based and system-based approaches. With the support from the World Bank and other international partners, including the European Union and the US Agency for International Development, the Project has brought a fresh wind of change in the country’s medical education Market.
• Building on Boston University’s Global Health Collaborative affiliated training programs with Vietnamese institutions and the resulting 1000+ first degree Family Medicine specialist physicians, additional 1000 of FM-trained undergraduate medical students, and more than 100 of 3-month short-course general and subspecialist physicians trained in FM, the World Bank has reported a breakthrough in scale-up of training numbers through the Health Professions Education and Training for Health Systems Reform Project (HPET).

2. Having A Budget of More Than $ 8,000,000, The IMPACT MED Alliance Expects That There Will Be More Than 5,000 Physician Graduates of The New Training Programs By 2025.

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The IMPACT MED Alliance brings together a diverse group of university, public sector, and private sector partners to build a strong and effective health workforce in Vietnam. 5 medical universities and policymakers to improve and innovate undergraduate medical education by providing technical assistance to comprehensively reform the 6-year training program for general medical doctors. A close partnership with the Ministry of Health facilitates sharing successful models and lessons learned with universities nationwide. More than 2,000 university faculty will be trained in new educational methods and five leading medical universities will be implementing a reformed six-year curriculum for training general medical doctors. By 2025, there will be more than 5,000 physician graduates of the new training programs.

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Medicine Studies in Vietnam Market

Related Reports By Ken Research:

Landscape of Thailand Medical Education Market

Landscape of Philippines Medical Education Market

Landscape of Malaysia Medical Education Market

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Major Players in Vietnam Agricultural Machinery Market - Ken Research

 Rising farm mechanization and labor shortage, set the path for The Vietnam Agricultural Machinery Market to register a CAGR of more than 10% during the forecast period 2021-2025,as per findings released by Ken Research.

1. The Rate of Mechanization of Agricultural Land Preparation Reached 94%, 42% Of Sowing and Planting Stages, and Care Reached 77% in Vietnam.

The mechanization level is increasing rapidly in Vietnam to improve the quality of grown crops. The amount of mechanization in agriculture is rising in the pre- and post-harvest stages, according to the Ministry of Agriculture and Rural Development in 2020. In particular, the rate of mechanization for preparing agricultural land for planting reached almost 95%, for maintaining sowing and planting at 40% it reached over 75%, and for harvesting rice at more than 65%.

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2. Renting an Agricultural Machinery (Combine Harvester) is Approximately 3 Times Cheaper than Hiring Labor for over a Hectare of Produce.

Vietnam is experiencing a severe labor shortage in the agricultural sector as more people go into the construction and other industries in search of better paying jobs. This has significantly influenced the rising usage of equipment in a variety of procedures. The Red River Delta, the North Central and Central Coastal Areas, the Mekong River Delta, and the South East are the four primary regions experiencing this change in occupational structure from agriculture to other industries. Since machines can do humans' tasks, a lack of seasonal farm labor is a primary impetus for the use of automation in agriculture. Mechanizing operations results in time and cost savings, thus making farming activity more profitable.

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Vietnam Agricultural Machinery Market

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Digital Disruption in Malaysian Insurance Industry: Ken Research

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Covid-19 accelerated the trend of digital transformation with many more consumers adopting online during lockdown to manage their everyday life needs. Additionally, the government’s policy of insuring the uninsured has progressively pushed insurance penetration in Malaysia and led to a proliferation of insurance schemes.

1.  Malaysia's digital economy is flourishing, thanks to a number of supportive factors that include a young population, improved industry infrastructure, and government policy backing

2.  Insurance industry in Malaysia also underwent digitization as a result of the COVID-19 epidemic; however online penetration in the industry remains less than 2%

Malaysia Insurance Industry Segmentation (GMV $Bn) – 2022

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General Insurance and General Takaful having around 2% online penetration, while Family Takaful and Life Insurance contributing less than 0.5%. The total Online penetration stand out to be less than 2% with the gross direct premium of more than USD 100 Mn

3.  Even with a growing digital appetite, omni-channel distribution, with a mix of digital and human touchpoints is a must as consumers in Malaysia are not comfortable with sharing personal data, even in exchange for better policy terms

Customer Journey in Insurtech

 4.  Owning to the increased government focus, technological developments, development of Aggregators, and increased convenience, Malaysian Online Insurance market is expected to grow with a 10-12% CAGR

Market Size for Malaysia Online Insurance Market, ‘21-’26F

In the future, it is expected that Malaysian Online Insurance market will grow with a 10-12% CAGR due to increased government focus, technological developments, development of Aggregators, and increased convenience. The market will pick up for both Motor and Non-Motor Insurance.

Future Outlook & Market Segmentation for Malaysia Online Insurance Market, ‘21-’26F

General insurance has seen an increased acceptance for online registrations & is expected to dominate the Online Insurance Market in Malaysia followed by Life Insurance, General Takaful, and Family Takaful.

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Malaysia Insurance Industry

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Thailand Online Insurance Market Outlook to 2027F

Singapore Online Insurance Market Outlook to 2026

India- the next major hub of the semiconductor industry: Ken Research

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With the rising domestic demand for electronic products, an increasing number of collaborations with global manufacturing players to shift in India, and the Indian government’s encouraging policies like Make in India, Production Linked Incentive Scheme (PLI), the road to India’s success as a global hub of semiconductor manufacturing industry looks promising and a near possibility.

1. India’s semiconductor market is flourishing as a result of increasing design centres, rising local demand, expansion of chip manufacturing plants, and government support

 

Key Findings

India Semiconductor Manufacturing Sales Value increased at a CAGR of ~11% from 2017 to 2022.

In India, semiconductors are designed and then sent to countries like China, Taiwan, the USA and a few European countries for manufacturing.

India also plays a role in assembling, testing, and packaging of semiconductors.

2.  However, the country still remains 100% import driven; India is only involved in designing, assembling, testing and packaging of semiconductors

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 Key Findings

• Research & Development: Pre-production efforts to increase processing capability & speed at a reduced cost.
• Design: Start of production. Highly skill-intensive, access to design software & IP blocks. R&D costs are high in this stage as well.
• Manufacturing: Highly capital intensive, access to manufacturing equipment, chemicals & wafer facilities, need to constantly upgrade facilities as per technological advancement.
• Assembly & Testing: Highly labor-intensive, less reliant on tech, high volume low margins, could be proved redundant by fabs creating wafer-level packaging.
• Distribution: Finished semiconductors are sold to Original Equipment Manufacturers (OEMs) for use in electronic goods. Needs an efficient logistics network.

3.  The industry is poised to grow at a CAGR of ~19% in the coming years due to continued government push and rising demand from the end-user market

India Semiconductor Manufacturing Sales Value is expected to increased at a CAGR of ~19% from FY’22to FY’27

Key Takeaways

India is planning to expand chip manufacturing plants. International semiconductor consortium (ISMC), a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor, plans to invest Rs 22,900 crore ($3 billion) in a chip fab.

• The 65-nanometer analog semiconductor fabrication factory is expected to provide opportunities for 1500 high-tech and high-quality jobs and at least 10,000 ancillary jobs. ISMC expects to help fund the development with the Indian government's $10 billion semiconductor and display incentive plan.

With the growing demand by end user industries such as industrial machinery, automobiles, telecommunication equipment, and office automation, among others for computing purposes is expected to accelerate the growth of the semiconductor market in the coming years.

• With internet penetration expected to reach 900 million users in the next few years from 622 million users in 2020, there will be an increasing adoption of smart devices, hence, contributing to the semiconductor market growth.

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India semiconductor industry

Future of Agritech in India: Ken Research

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India's agritech sector has grown significantly as a result of increased investor interest in the industry, decreasing post-harvest and supply chain losses, increasing rural internet penetration, and other factors. It is thought to have a bright future, especially as it integrates with tech entrepreneurs.

1. Presence of Large Number of Intermediaries & Inadequate Supply Chain Infrastructure Impacting the Agribusiness Value Chain

2.  To solve these pain points of the farmers, The >INR 1k crores Agritech market is majorly fuelled by three types of Business Models spread across segments

Market Size by Revenue of Agritech Sectors in India in FY2021

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Supply Chain and Market Linkages maximally contribute to the overall agritech market (in terms of revenue) by eliminating the middlemen and highly benefiting the farmers as well as other end users

3.  Past five years have witnessed a strong surge in the development of this ecosystem, with a 9X increase in institutional funding in the sector during this period

Funding in Agritech Sector (Mn USD); FY’17-FY’21

Founders and investors begin to look for significant opportunities for technology-first companies to disrupt traditional models. Investors’ interest in agritech startups has increased tremendously today as agritech is one of the few sectors that not only survived but thrived during the pandemic.

4.  All the segments are poised to continue to grow at double digit CAGR with an average of > 20%

In the next 5 years, the face of agriculture will be changed by the Indian Agritech start-ups. Farmers productivity and efficiency will improve and a robust supply chain network shall be created to reduce the wastage. There will continue to be a tremendous uptick in demand for Farm-to-Consumer (F2C) brands that are able to assure quality and provide traceability back to the source.

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Agritech Market in India

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Indonesia Agritech Market Outlook to 2026: Driven by Innovative Start-ups and Influx of Foreign Investors

 

France Remittance Market Outlook to 2027: Ken Research

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What is the Size of France Remittance Industry?

France Remittance market is growing at a CAGR of ~% in 2017-2022 and is expected to reach EUR ~ Bn by 2027F. The France Remittance Market is largely driven by increased migration, increasing government support for new competitors, improved banking knowledge and increased awareness towards digitalized remittance services in the space. Growth in mobile-based payment channels and cross-border transactions and deduction in remittance transfer time & cost propels the growth of the market.

Adoption of digital remittance is projected to reduce the dependency on cash agents in both the sending and receiving countries, who currently contributes to sustaining high transaction fees. Adoption of digital remittance is projected to reduce the dependency on cash agents in both the sending and receiving countries, who currently contributes to sustaining high transaction fees.

The increasing numbers of startups in Fintech industry are expected to push the cost of fund transfers down in the coming years. All this will be complimented by increased security checks and safety regulations, as have already been started by DBS bank. The continuous enlargement of the remittances in the recent past years has been encouraged by the sustained innovation on the behalf of banks, money transfer corporates, MTO’s and several other financial associations which deliver the remittance services to the overseas workers.

France Remittance Market by Channels

The France Remittance market is segmented by Channels into Banking channels, MTOs, M-Wallets and Others. Choice of a remittance channel depends on the ease of access for payer and payee, cost involved, range of products and services offered, amount of remittance and similar.

France Remittance Market by Inflow Countries

The France Remittance market is segmented by Inflow Countries into Italy, Poland, Portugal, Romania, United Kingdom and Other EU-28 Countries. Some developed countries are now net importers of cash, as professional people working abroad send increasing amounts of cash home. France benefited from a huge remittance inflow in recent years.

France Remittance Market by Point of Contact

The France Remittance market is segmented by Point of Contact into Branch Pick-up, Mobile Payment & Online Transactions, Prepaid Cards. The inbound remittance market is dominated by branch pick-ups and mobile & online transactions equally followed by prepaid cards in terms of remittance transaction volume.

France Remittance Market by Outflow Countries

The France Remittance market is segmented by Outflow Countries into Germany, Spain, Italy and others. The outflow of remittances can be viewed as a leakage from the circular flow of income that reduces the amount of money that is available for economic activity. Excessive leakage can hamper economic growth.

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Competition Scenario in France Remittance Market

The France market is moderately concentrated with majority of the market being captured by MTOs & Banks. There are 5 major MTOs in the market namely Western Union, MoneyGram, Ria Money Transfer, Transferwise and UAE Exchange. 4 major Banks include HSBC Bank, Lloyds Bank, BNP Paribas and Barclays Plc. Major m-wallet in the region is Xoom by Paypal. Major competing parameters for the entities include fees charged, transfer speed, services offered, reach of the service providers, payout networks, and trust value attached, technological advancements, promotional offers and transparency in costs.

What is the Expected Future Outlook for the Overall France Remittance Market Across the globe?

The France Remittance market was valued at EUR ~billion in 2022 and is anticipated to reach EUR ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The France Remittance market is driven by growth in internet & mobile penetration and technological modernization in remittance industry are projected to deliver the lucrative opportunity for the remittance market in the forthcoming years.

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In terms of volume of transactions, the inbound remittance is expected to register a CAGR close to ~% and the outbound remittance is expected to showcase a CAGR close to ~% during the same period. As the cases of financial crime and frauds is increasing day by day and this technology in banking and financial services facilitate numerous offers to the solution by identifying the customers through their fingerprint scanning or retina scanning as these two things never be same or matched with another person.

The market has been fostered by effectively augment the migration, significant growth government support for fresh competitors, developed the banking knowledge and positive growth awareness towards the digitalized remittance services in the space. In the coming years, the players would be increasing through the acquisitions, tie-ups, augmented the digital modes of money transfer and effective growth to the payout networks around and outside Europe.

The significant increment in the smartphone penetration, combined with growing amount of the digital-savvy consumers choosing for the digital remittances, is predicted to propel the market over the review duration. Additionally, the growing internet penetration has allowed the consumer to access the financial remittance services. The technology of biometrics is playing effective role as this technology is considered highly effective and efficient because of the unique process.

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Future Outlook of France Remittance Market

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Egypt Remittance Market Outlook to 2023

Rising fire accidents along with the growing construction of new buildings to drive the UAE Fire Safety and Rescue Tools & Products Market: Ken Research

1. Total Number of Fire Accidents growing along with new construction projects in Dubai, 2018-2021

Being most prone to fire accidents, retail and commercial are often categorized as Category risk “A”. Category A means a more sophisticated fire station in vicinity, and more powerful and efficient firefighting equipment for civil defense services. Majority fire accidents in UAE are caused due to incidents or sparks, and defaults not being informed to the authority. UAE has been actively trying to introduce more efficient fire detecting measures. There is a notable difference between fire protection system, which is building oriented (sprinkler systems, fire extinguishers, yard hydrants, etc.) and firefighting measures, which include active firefighting and rescue activities.

2. Civil Defense Branches and Headquarters across the emirates of UAE host fire stations, which provide firefighting services to the entire nation

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Dubai, being UAE’s financial hub, has far more fire stations in a comparatively smaller area than other emirates, with ~7 fire station serving per Mn population due to its density and infrastructure. Whereas Abu Dhabi has considerably lesser number of fire station. Though this is due to fire stations in close proximity to the dense business district of Abu Dhabi.

3. Buildings in UAE have fire protection systems in place to prevent fire accidents, and assist in firefighting activities in case of fire emergency

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Majority fire accidents in UAE are caused due to incidents or sparks, and defaults not being informed to the authority. UAE has been actively trying to introduce more efficient fire detecting measures. There is a notable difference between fire protection system, which is building oriented (sprinkler systems, fire extinguishers, yard hydrants, etc.) and firefighting measures, which include active firefighting and rescue activities.

Future Outlook of Vietnam Medical Education Market: Ken Research

 1. Disparity in Public & Private Universities, Expensive Course Structure and No Designated Board to conduct Exams have created disparity in the education system in Vietnam

Most of the Universities do not conduct interviews for the admission process. This creates disparity and reduces the chances to improve upon one-time high school scores (National Entrance Examination). Each university has their own curriculum and has autonomy to design their own syllabi.

Medical degrees are considered expensive in terms of time and money. They are thus limited to a certain class of people in Vietnam. Students usually have to pay for the equipment and special facilities in their departments for clinical training.

There are is no specific and designated Board for conducting medical examination to test the quality of students graduating the Medical School. There are no further Licensing examination to get accreditation for specialization by doing specialized practice in the field.

2. Key Initiatives taken by the Government to improve Medical Education in Vietnam

Five medical universities and policymakers to improve and innovate undergraduate medical education by providing technical assistance to comprehensively reform the 6-year training program for general medical doctors. Training led by Harvard Medical School educators produces faculty with improved skills in curriculum design, active learning, and clinical teaching, and creates a community of faculty to develop innovations in medical education.

A close partnership with the Ministry of Health facilitates sharing successful models and lessons learned with universities nationwide. With the goal of introducing standardized postgraduate training programs in all health specialties in Vietnam, the IMPACT MED Alliance provides technical support to policy makers at the Ministry of Health towards the development of laws and policies governing postgraduate medical education.

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As a result, more than 2,000 university faculty will be trained in new educational methods and five leading medical universities will be implementing a reformed six-year curriculum for training general medical doctors. By 2025, there will be more than 5,000 physician graduates of the new training programs.

3. Rising Population, Demand for quality healthcare and Shortfall in the existing healthcare workforce are the biggest enablers of the Medical Education Market in Vietnam

There is an increase in the population of Vietnam over the years but healthcare workforce is relatively low compared to the total population (around 1 physician and 1.3 nurses per 1,000 residents). The imbalance in the healthcare workers versus the growth of the population. This will drive the demand for more doctors.

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Vietnam also has one of the most rapidly aging populations in the world, with an increasing demand for quality healthcare services and new issues likely to emerge in the health sector in future years. Increase in quality of support staff is expected to be a major support to failing healthcare facilities.

Government has recently granted HIE autonomy to determine their curriculum. This will make Vietnamese medical education more decentralized and competitive.

Increasing public awareness as well as increase in healthcare spending by the Government is driving the Thailand Clinical Laboratory Market to reach USD ~6.0 Bn by 2026F: Ken Research

 Thailand Clinical Laboratory Market is in the growing stage, being driven by increasing healthcare spending by aging population, expanding healthcare spending by the Government, growth in non-communicable disease and chronic diseases and increasing public awareness.

• The private hospital sector has been undergoing structural change and the effects of this are becoming increasingly clear.
• Government Health Initiatives and Health Insurance Programs was and will be the major chunk of health expenditure in Thailand.
• Through the use of technology, diagnostics chains have altered the business model and shifted the focus to patient comfort; the industry has innovated the service delivery model and is providing quality services.

Growing Demand for Clinical Laboratory Services in Thailand: The introduction of Universal Health Coverage and other government-sponsored health-related initiatives is anticipated to boost demand for laboratory services. The growth of external referrals for private independent laboratories will be caused by the public hospitals sending samples to private independent laboratories for clinical testing. Players making investments to improve their testing skills, have embraced a number of cutting-edge technologies and tests made available on the worldwide market, notably specialised tests. Furthermore, it is anticipated that the main private independent laboratory chains will expand outside of important cities into less developed regions. This will also result in a rise in market share for clinical laboratories in Thailand.

Rising Disposable Income Resulting in Increasing Demand for Health Check-Ups: Rising personal disposable income of the people of Thailand has led to higher spending on healthcare services including clinical testing in the country. Furthermore, there has been an increase in middle to high income earners seeking preventive health check-ups. This has been resulting in the overall Clinical Laboratory Industry in Thailand to grow.

Growth in non-communicable disease and chronic diseases: There has been a shift in disease profile, thus changing the level of interaction between doctors and patients from episodic to rhythmic. Increasing incidence of communicable and non-communicable diseases, such as cardiovascular disease, cancer and diabetes, are expected to drive the Clinical Laboratory Market in Thailand.

Analysts at Ken Research in their latest publication “Thailand Clinical Laboratory Market Outlook to 2026F- Driven by current shortage, widening customer base, Government initiatives and increasing corporate requirements for clinical testing” by Ken Research observed that Thailand Clinical Laboratory Market is in the growing phase. Increasing healthcare spending by aging population, expanding healthcare spending by the Government and increasing public awareness are some of the factors that will contribute to the Thailand Clinical Laboratory Market growth over the period of 2022F-2026F. It is expected that Thailand Clinical Laboratory Market will grow at a CAGR of 9.5% for the above forecasted period.

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Key Segments Covered:-

Thailand Clinical Laboratory Market

By Independent Laboratory

• Organized Labs
• Unorganized Labs

By Payer

• Private Health Insurance
• Corporates
• Out of Pocket

By Customers

• Walk-Ins
• Doctor Referrals
• Corporate Clients
• Online Bookings

By Type of Tests

• Routine
• Esoteric
• Non-Laboratory

By Type of Routine Tests

• CBC (Complete Blood Count)
• A1C
• Basic Metabolic Panel
• Others

By Type of Esoteric Tests

• Infectious Disease
• Endocrine
• Allergic Disease
• Oncology
• Others

By Region

• Bangkok
• Nakhon Ratchasima
• Samut Prakan
• Ubon Ratchathani
• Khon Kaen
• Others

By Type of Laboratory in Private Hospitals

• In-house Labs
• Third Party Tie-Ups

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Key Target Audience:-

• Clinical Laboratory companies
• Organized Clinical Laboratories
• Unorganized Clinical Laboratories
• Private Hospitals
• Private Equity and Venture Capitalist
• Industry Associations
• Technology providers
• Government Bodies & Regulating Authorities

Time Period Captured in the Report:-

• Historical Period: 2016-2021
• Base Year: 2021
• Forecast Period: 2022F– 2026F

Companies Covered:-

Organized Labs

• N Health
• Pathlab
• Thonburi Clinical Labs
• Bangkok Medical Labs
• BRIA Group
• MIC Labs

Unorganized Labs

• Medical Line Lab
• Innotech Laboratories
• Service Co., Ltd.Innolab
• Prolab
• Pattaya Clinic Laboratory
• CCS Medical laboratory
• Excellent Pathological
• Lab Company Limited
• DNA Testing Laboratory Co., Ltd.
• Pathology Diagnostic Center
• Ubon Pathology
• Rachvipa MRI Company Limited
• hi-tech lab
• Bangkok Pathology-Lab
• Inter-Lab Pathology and Research Center

Key Topics Covered in the Report:-

• Thailand Clinical Laboratory Market Overview
• Thailand Healthcare Overview
• Ecosystem of Thailand Clinical Laboratory Market
• Thailand Clinical Laboratory Market Segmentation
• Industry Analysis of Thailand Clinical Laboratory Market
• Value Chain of Clinical Laboratory Market in Thailand

• Key Growth Drivers in Thailand Clinical Laboratory Market
• End User Analysis of Thailand Clinical Laboratory Market
• Key Challenges of Thailand Clinical Laboratory Market

• SWOT Analysis of Thailand Clinical Laboratory Industry
• Future Outlook of Thailand Clinical Laboratory Industry
• Trends and Development of Thailand Clinical Lab Market
• COVID-19 Impact on Clinical Laboratory Market in Thailand

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Thailand Clinical Laboratory Market

Related Reports by Ken Research:-

Philippines Clinical Laboratory Market Outlook to 2027F

Indonesia Clinical Laboratory Market Outlook to 2026F

Vietnam Clinical Laboratories Market Outlook to 2027F

Bahrain Remittance Market Outlook to 2027F: Ken Research

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What is the Size of Bahrain Remittance Industry?

Bahrain Remittance market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F. The Bahrain Remittance Market is largely driven by the increasing inflow of expatriates, digitization, e wallets and major government investments.

Bahrain has been an expat hotspot for decades because of multi-cultural environment and a progressive nation which is known to offer a good quality of life to its residents. With the recent economic and political reform, the country has seen a tremendous growth in infrastructure development, thus creating more job opportunities and an attractive destination for expatriates. With the increasing inflow of expatriates also increases the inflow of remittance to other countries, thus fueling the Bahrain remittance market.

With the adoption of ‘cloud-first’ policy in 2017 by the Bahrain Government, the Country has attracted some of the world’s leading tech players to set up operations in the Kingdom. Most notably, cloud computing giant Amazon Web Services (AWS) launched its hyperscale Cloud Region in Bahrain in 2019, its first in MENA and a landmark investment.

Furthermore, the government has planned to invest billions of dollars to improve infrastructure, industry, housing and connectivity to call for more diverse economic base.  As part of Bahrain’s 2021 Economic Recovery Plan, Bahrain announced over 22 strategic infrastructure projects worth over $30 billion, which has fueled the Remittance market of Bahrain.

Bahrain Remittance Market in International Inbound by channel

The Bahrain Remittance market is segmented by Channel into Banking Channels, MTOs, M-Wallet and Others. Banking Channels were the most dominant form of channel used in Bahrain Remittance market in 2022.

Bahrain Remittance Market by Inflow of Countries        

The Bahrain Remittance market is segmented by Inflow of Countries into India, Pakistan, Bangladesh, Sri Lanka, Egypt and Indonesia. Indonesia was the most dominant among others followed by India and Pakistan in 2022.

Bahrain Remittance Market in international outbound by channel

The Bahrain Remittance market is segmented by Channel into Banking Channel, MTOs, M-Wallets and Others. Banking channel was the most preferred form of channel in 2022 in Bahrain Remittance market.

Bahrain Remittance Market international outbound by outflow countries

The Bahrain Remittance market is segmented by outflow countries into India, Pakistan, Bangladesh, Sri Lanka, Egypt and Indonesia. Indonesia held the major market share in Bahrain International Outbound Remittance market in 2022.

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Bahrain Remittance Market by Point of Contact

The Bahrain Remittance market is segmented by Point of Contact into Branch Pick-up, Mobile payment & Online Transaction and Prepaids cards. Branch Pickups held the majority of the share in the Bahrain Remittance market in 2022.

Competition Scenario in Bahrain Remittance Market

Bahrain Remittance Market is in the growing stage, consisting of ~ players (banks and digital payment companies) with just few companies acquitting the major portion of the market. Bahrain international remittance market is fragmented with the manifestation of small, medium and large corporations. Some of the major players in the Bahrain Remittance market are Western Union, MoneyGram, Al Barka Bank etc.

What is the Expected Future Outlook for the Overall Bahrain Remittance Market Across the globe?

The Bahrain Remittance market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Bahrain Remittance market is driven by the increasing inflow of expatriates, digitization, e-wallets and major government investments. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

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Government has ambitious plans to use digital technologies extensively to strengthen its services, processes, and decision making, as well as its ability to share data with constituents. There is specific emphasis on improving the individual organizational capabilities of Government entities by aligning their digital strategies with the national Digital Government Strategy 2020, strengthening the governance mechanisms, enabling a digital workforce, reinforcing agile development and analytical platforms while deploying robust cyber security measures and controls which will led to increase employment in the digital sector, thus fueling the inflow of workers in the country.

The inbound remittance is expected to showcase a CAGR close to ~% and the outbound remittance is anticipated to showcase a CAGR close to ~% by value of transactions USD ~Mn. The government's infrastructure development operations are likely to enhance job possibilities in the country in the upcoming years. The majority of these positions are likely to be in the country's flourishing private sector, resulting in a considerable rise in the number of expatriates in the country. This will undoubtedly have a significant impact on rising remittance inflows and outflows, which are highly influenced by the country's expatriate community. The domestic remittance sector will also see a rise in the future with the increasing digital money transfer company.

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Bahrain Remittance Market

Related Report by Ken Research: –

Egypt Remittance Market Outlook to 2023