The emerging number of cancer and cardiac problem is generating the demand for precision medical imaging for early detection and preventive treatment in Middle East & Africa. Another factor impacting the growth of precision medical imaging market during the forecast period is growing medical tourism in the region would lead to the growth in the construction of hospitals and specialty centers. However, the high cost of products affects the adoption of precision medical imaging in the Middle East & Africa region.
According to the MarkNtel Advisors’ research report, “Middle East and Africa Precision Medical Imaging Market Analysis, 2020”, the region is expected to exhibit a considerable CAGR during 2020-25. Rising aging population and incidence of chronic diseases in Middle Eastern countries is expected to bolster the demand for precision medical imaging. According to UNICEF, the aging population of UAE would reach 490 thousand in 2030 and 1,805 thousand in 2050 from 115 thousand in 2018. UAE Vision 2021 is snowballing the growth of precision medical imaging in the region from the past few years.
Oncology Segment Would Lead the Market with Highest Market Share
Precision Medical Imaging is majorly used in oncology to find the specific part of the human body in which cancer is spreading. It is expected the oncology segment would record the largest revenue share in the coming years due to augmenting cancer patients in the region, consequently, boosting the Middle East & Africa precision medical imaging market over the next 5 years. The neurology disability incidences are rising in the Middle East & Africa owing to an increasingly aging population and changing customers' lifestyle in the Middle East & Africa region. Thus the demand for precision medical imaging in neurology is projected to grow in the coming years.
Rising medical tourism is generating the requirement for medical facilities with advanced technologies. According to the Dubai Health Authority, UAE has a requirement of additional 8,000 hospital beds by 2025. Therefore, numerous hospital projects are under construction. In the completion years, these projects are generating the demand for precision medical imaging in the country. Thus, the hospital segment would remain a dominant segment in the forthcoming years.
According to the MarkNtel Advisors the major leading players are Siemens Healthineers, Philips Healthcare, GE Healthcare, Canon Medical System and others.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Revenue, Forecast Numbers, Market Segmentation, Market Shares) of the Middle East & Africa Precision Medical Imaging Market?
2. What are the region-wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Middle East & Africa Precision Medical Imaging Market?
4. Who are the key competitors or market players and how they perform in the Middle East & Africa competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of the Middle East & Africa Precision Medical Imaging Market study?