Cardiology Devices - Bahrain | Statista Market Forecast

The Cardiology Devices market market in Bahrain is expected to witness significant growth in the coming years.
According to projections, the revenue is projected to reach US$28.63m in 2024.
Furthermore, the market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 7.26%.
This growth trajectory is anticipated to propel the market volume to US$40.63m by the year 2029.
When compared globally, it is worth noting that the United States is set to dominate the Cardiology Devices market market.
In 2024, the United States is estimated to generate a staggering revenue of US$25.77bn.
This highlights the significant market potential and opportunity for growth the United States.
Bahrain's growing healthcare infrastructure and focus on advanced medical technology make it a promising market for innovative cardiology devices.

Definition:
The Cardiology Devices market includes diagnostic, monitoring, and surgical devices that are used to treat heart diseases and heart-related problems.

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, Abbott Laboratories, Boston Scientific, Edwards Lifesciences.
Further information on the key players can be found in the Market Shares boxes.

Cardiology diagnostic & monitoring devices
Cardiology surgical devices
Implants such as pacemakers

Cardiology drugs
Cardiology supplements

The Cardiology Devices market in Bahrain is experiencing steady growth due to various factors such as increasing prevalence of cardiovascular diseases, growing aging population, and advancements in medical technology.

Customer preferences: In Bahrain, customers prefer cardiology devices that are technologically advanced, efficient, and provide accurate results. They also value devices that are user-friendly and can be easily integrated into existing healthcare systems. Additionally, customers prioritize devices that offer a high level of patient comfort and safety.

Trends in the market: One of the key trends in the Cardiology Devices market in Bahrain is the increasing adoption of minimally invasive procedures. This trend is driven by the desire to reduce patient discomfort, shorten hospital stays, and accelerate recovery times. As a result, there is a growing demand for devices such as cardiac catheters, stents, and implantable devices that can be inserted through small incisions or blood vessels. Another trend in the market is the rising demand for remote monitoring and telemedicine solutions. These technologies allow healthcare professionals to remotely monitor patients with cardiovascular conditions, enabling early detection of potential issues and timely intervention. This trend is particularly beneficial in Bahrain, where access to healthcare services may be limited in certain areas.

Local special circumstances: Bahrain has a high prevalence of cardiovascular diseases, which is a major factor driving the growth of the Cardiology Devices market. This can be attributed to factors such as sedentary lifestyles, unhealthy diets, and a high prevalence of risk factors such as obesity, diabetes, and hypertension. As a result, there is a growing need for cardiology devices to diagnose, treat, and manage these conditions.

Underlying macroeconomic factors: Bahrain has a well-developed healthcare infrastructure and a strong commitment to providing quality healthcare services to its citizens. The government has invested significantly in healthcare facilities, equipment, and training of healthcare professionals. This favorable healthcare environment, coupled with the country's high per capita income, contributes to the growth of the Cardiology Devices market. Additionally, Bahrain is strategically located in the Gulf region, which makes it a hub for medical tourism. Patients from neighboring countries seek medical treatment in Bahrain, including cardiology procedures. This influx of patients further drives the demand for cardiology devices in the country. In conclusion, the Cardiology Devices market in Bahrain is witnessing steady growth due to factors such as increasing prevalence of cardiovascular diseases, growing aging population, and advancements in medical technology. Customer preferences for technologically advanced and user-friendly devices, as well as the adoption of minimally invasive procedures and remote monitoring solutions, are shaping the market. The high prevalence of cardiovascular diseases and the government's commitment to providing quality healthcare services, coupled with Bahrain's strategic location as a medical tourism hub, further contribute to the growth of the market.

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.