The cardiovascular devices market is expected to show significant growth in UAE during the forecast period, 2020-2025. The key contributors to the market growth are the growing burden of cardiovascular diseases and technological advancements. Cardiovascular diseases are one of the leading causes of mortality and morbidity in the UAE. According to the study of Hamdan Medical Journal, 2018, approximately 22% of the cardiovascular deaths were accounted for acute myocardial infarction (AMI), 16% for cerebrovascular disease, 6% for ischaemic heart disease and 5% for hypertension. The sedentary lifestyle among the population is expected to add a burden. Hence, the importance of early diagnosis and treatment is rising thereby boosting the cardiovascular devices market growth in UAE.
Key Market Trends
Diagnostic and Monitoring Segment is Expected to show a Significant Growth Rate in the Cardiovascular Devices Market
Diagnostic and Monitoring segments include an electrocardiogram (ECG), remote cardiac monitoring, and others. An electrocardiogram is used for measuring the electrical activity of the heart to analyze if it's working properly or not. The technological advancements occurring in these devices is driving the growth. The Ministry of Health and Prevention (MoHAP), recently (2020) introduced AI-based device monitoring cardiac arrhythmia in the Arab Health 2020. It is a type of ECG that is made with an aim to curb heart diseases even before they occur. Furthermore, the prevalence of hypertension is also increasing. According to the Journal of Hypertension, 2017, the prevalence of hypertension in the Middle-east Countries was around 30%. Hence, the demand for diagnostic and monitoring devices in this market is expected to increase.
The major players in the market are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health Inc., Edwards Lifesciences, GE Healthcare, W. L. Gore & Associates, Inc., Medtronic PLC, Biotronik, Siemens Healthineers AG, and Canon Medical Systems Corporation.
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