UAE Cardiovascular Devices Market to grow with a CAGR of 5.11%
Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the UAE Cardiovascular Devices Market.
According to TechSci Research report, “UAE
Cardiovascular Devices Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, UAE Cardiovascular Devices Market has
valued at USD 0.59 billion in 2022 and is anticipated to witness an impressive
growth in the forecast period with a CAGR of 5.11% through 2028. This can be due to collaborations and
partnerships among leading companies with a diverse approach to merge the
expertise of individual companies and to strengthen their position in the
market.
The growing aging population is a
significant driver of the demand for cardiovascular devices. As the population
ages, there is an increased prevalence of cardiovascular diseases and related
conditions. Cardiovascular devices play a crucial role in the diagnosis,
treatment, and management of these conditions. Aging is a major risk factor for cardiovascular diseases,
and the elderly population often experiences a higher incidence of conditions
such as coronary artery disease, heart failure, and atrial fibrillation. The
rise in cardiovascular diseases among older individuals drives the demand for
diagnostic devices, monitoring solutions, and therapeutic interventions.
The aging process is associated
with an increased prevalence of chronic conditions such as hypertension,
diabetes, and hyperlipidemia, which are major contributors to cardiovascular
diseases. Cardiovascular devices, including blood pressure monitors, glucose
monitors, and lipid management tools, are in demand to manage these chronic
conditions effectively.
The aging population often requires
continuous monitoring of cardiovascular health to detect and prevent potential
issues. Wearable devices, implantable monitors, and home-based monitoring tools
are increasingly sought after by older individuals who wish to actively manage
their heart health. Aging
is associated with an increased risk of conditions such as aortic stenosis,
valvular heart diseases, and vascular issues. Advanced diagnostic imaging
devices, including echocardiography and vascular imaging systems, are essential
for accurate diagnosis and treatment planning in the elderly population.
Browse over XX market data Figures and spread through XX Pages and an in-depth TOC on " UAE Cardiovascular Devices Market.”
In June 2022, A
groundbreaking initiative by health tech pioneers and cardiologists operating
under the banner of UPOlife has resulted in the development of a revolutionary
product – the UPOlife Wearable Biosensor Patch. This innovative solution is
designed to effectively address challenges arising from the pandemic by
enabling users to remotely assess their heart health and overall wellness. The
UPOlife Wearable Biosensor Patch, a disposable medical-grade heart health
screening device, boasts internal data storage capabilities for a comprehensive
7-day monitoring period. Notably, the patch eliminates the need for additional
applications and doctor visits for application. Patients can seamlessly
integrate vital signs monitoring into their daily routines, as the device
records a two-channel electrocardiogram (ECG) signal, heart rate, and heart
rate variability. Subsequently, the UPOlife team leverages this data to
generate a comprehensive heart health and wellness report, with all findings
validated by a professional cardiologist.
Insurance
coverage and reimbursement issues represent a significant challenge in the UAE
Cardiovascular Devices Market. The extent of insurance coverage for
cardiovascular procedures and devices may vary, leading to disparities in
access to advanced cardiovascular care. Patients without comprehensive
insurance coverage may face barriers to obtaining certain cardiovascular
devices and treatments. Even with insurance coverage, patients may still incur
high out-of-pocket costs for cardiovascular devices and procedures. Copayments,
deductibles, and co-insurance requirements can create financial burdens,
affecting patient affordability. Reimbursement policies for cardiovascular
procedures and devices may differ among insurers and healthcare providers.
Inconsistent reimbursement standards can lead to uncertainties for healthcare
providers and impact their willingness to adopt certain technologies.
UAE Cardiovascular
Devices Market is segmented based on Type, Application, End User, and by region.
Based on the Application,
UAE Cardiovascular Devices Market is segmented into Coronary Artery Disease,
Cardiac Arrhythmia, Heart Failure, Others. Heart failure is a medical condition
that occurs when the heart is unable to pump blood effectively, leading to
inadequate circulation and delivery of oxygen and nutrients to the body's
tissues and organs. Despite its name, heart failure does not mean that the
heart has stopped working; rather, it signifies a weakening of the heart's
ability to meet the body's demands. In systolic heart failure, the heart's pumping
function is weakened. The left ventricle, the heart's main pumping chamber, has
difficulty contracting with enough force to propel blood into the circulation.
Diastolic heart failure,
also known as heart failure with preserved ejection fraction (HFpEF), occurs
when the heart becomes stiff and has difficulty relaxing between beats. This
stiffness affects the heart's ability to fill properly, reducing the amount of
blood that can be pumped out.
Based on Region, Abu Dhabi region held the largest share
in the UAE Cardiovascular Devices Market.
The population density in Abu
Dhabi, being one of the largest emirates, may contribute to a higher demand for
healthcare services, including cardiovascular care. The concentration of
population and healthcare facilities can make Abu Dhabi a strategic market for
cardiovascular devices. The economic strength of Abu Dhabi, driven by factors
such as oil wealth and diversified investments, can contribute to a robust
healthcare sector. Patients in Abu Dhabi may have the financial means to access
advanced cardiovascular care and invest in cutting-edge medical technologies. Abu
Dhabi's efforts to attract medical tourists seeking high-quality healthcare
services could influence the demand for advanced cardiovascular devices.
Patients from both within and outside the UAE may choose Abu Dhabi for
cardiovascular treatments, driving market demand.
Some of the major companies operating in
the UAE Cardiovascular
Devices Market include:
- Medtronic
Meta FZ-LLC
- Abbott
Laboratories S.A.
- Terumo UAE
- Philips
Healthcare UAE
- Life
Companion
- Vasmed UAE
- Life Mate
Medical Equipment Trading LLC
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“Certain areas,
particularly in Dubai, are projected to exert significant demand for Cardiovascular
Devices. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhance the overall
wellbeing of people each year, are expected to contribute to a remarkable
growth of the UAE Cardiovascular Devices Market in the forecast period,"
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
UAE Cardiovascular
Devices Market by Type (Diagnostic & Monitoring Devices {ECG, Holter
Monitors, Implantable Loop Recorders, Event Monitors, Others}, Surgical Devices
{Pacemakers, Defibrillators, Stents, Valves, Other}), By Application (Coronary
Artery Disease, Cardiac Arrhythmia, Heart Failure, Others), By End User
(Hospitals & Clinics, Diagnostic Centers, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of UAE
Cardiovascular Devices Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in UAE Cardiovascular
Devices Market.
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