Medical Devices - Bahrain | Statista Market Forecast

The Medical Devices market market in Bahrain is expected to witness a significant revenue growth in the coming years.
By 2024, the projected revenue is estimated to reach US$176.70m.
Among the various markets within the market, Cardiology_Devices emerge as the largest, with a projected market volume of US$28.63m by 2024.
Furthermore, the market is expected to showcase a steady annual growth rate of 6.06% between 2024 and 2029, resulting in a substantial market volume of US$237.10m by the end of 2029.
It is worth noting that these predictions are based on the compound annual growth rate (CAGR) during this period.
In comparison to other countries, the United States is anticipated to generate the highest revenue in the Medical Devices market market.
In 2024 alone, the projected revenue for the United States is estimated to be a staggering US$181.00bn.
This highlights the dominance of the United States in the global market landscape.
Bahrain's medical technology market is experiencing a surge in demand for advanced medical devices, driven by the country's growing healthcare sector and focus on improving patient outcomes.

Definition:
The Medical Devices market includes instruments and machines helping for the prevention, diagnosis, and treatment of diseases. This market is further broken down into 6 submarkets according to medical specialties or types of application. Medical devices that treat the heart, such as pacemakers, can be found in the Cardiology Devices market. The Diagnostic Imaging market covers machines and instruments for diagnosis of many different kinds of conditions. Devices for orthopedic applications, such as joint implants, are included in the Orthopedic Devices market. Ophthalmic Devices are devices used for conditions related to the eye. The General & Plastic Surgery Devices covers many different products required for surgeries. The Other Medical Devices market provides information on additional areas that are not covered by the main markets.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Johnson & Johnson, Siemens Healthineers.

Implants and prostheses
Assistive technology products (e.g., hearing aids, wheelchairs)
Clinical engineering products
Imaging devices
Active medical devices (i.e., operating with electrical energy)

Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Products for laboratory testing (IVD)

The Medical Devices market in Bahrain is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Bahrain are shifting towards more advanced and innovative medical devices. Patients and healthcare professionals are increasingly seeking devices that offer improved accuracy, efficiency, and ease of use. This has led to a growing demand for technologically advanced devices such as wearable health trackers, remote patient monitoring devices, and minimally invasive surgical instruments. Additionally, there is a rising preference for devices that are compact, portable, and can be easily integrated into existing healthcare systems. Trends in the market indicate a strong focus on digital health solutions and telemedicine. The advancement of technology has enabled the development of connected devices that can collect and transmit real-time health data to healthcare providers. This allows for remote monitoring and diagnosis, reducing the need for physical visits to healthcare facilities. The COVID-19 pandemic has further accelerated the adoption of telemedicine, as it provides a safe and convenient way for patients to receive medical consultations and follow-ups. Local special circumstances in Bahrain also contribute to the development of the Medical Devices market. The government of Bahrain has been actively promoting healthcare and investing in infrastructure development. This includes the establishment of specialized medical centers, research institutions, and innovation hubs. These initiatives create a conducive environment for medical device manufacturers and suppliers to operate and innovate. Furthermore, Bahrain's strategic location in the Middle East makes it an attractive market for international companies looking to expand their presence in the region. Underlying macroeconomic factors play a significant role in the growth of the Medical Devices market in Bahrain. The country has a strong and stable economy, with a high GDP per capita and a well-developed healthcare system. The government's focus on diversifying the economy and reducing dependence on oil revenues has led to increased investments in the healthcare sector. Additionally, the growing population and the rising prevalence of chronic diseases contribute to the demand for medical devices. In conclusion, the Medical Devices market in Bahrain is witnessing growth and development due to customer preferences for advanced and innovative devices, trends in digital health and telemedicine, local special circumstances such as government support and infrastructure development, and underlying macroeconomic factors. These factors create opportunities for both local and international players in the market, driving innovation and improving healthcare outcomes in Bahrain.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.