General & Plastic Surgery Devices - GCC

The General & Plastic Surgery Devices market market in the Gulf Cooperation Council (in Gulf Cooperation Council (GCC)) is anticipated to achieve a revenue of US$670.10m by 2024.
Looking ahead, the market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 6.77%, leading to a market volume of US$929.90m by 2029.
In terms of global comparison, the United States is projected to generate the highest revenue, with an estimated US$9.84bn in 2024.
In the GCC, there is a growing demand for advanced General & Plastic Surgery Devices to cater to the region's affluent population seeking cosmetic enhancements.

Definition:
The General & Plastic Surgery Devices market represents medical devices designed for general and plastic surgery procedures, such as disposable surgical supplies, open surgery instruments, minimally invasive surgery instruments.

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, Becton Dickinson, Conmed Corporation. Further information on the key players can be found in the Market Shares boxes.

Disposable surgical supplies
Open surgery instruments
Minimally invasive surgery instruments

Services (i.e., treatment expenses)
Blood and transplants derived from the human body
In vitro diagnostics
Diagnostic imaging

The General & Plastic Surgery Devices market in GCC is witnessing significant growth due to increasing customer preferences for aesthetic procedures, advancements in technology, and the rising popularity of medical tourism in the region.

Customer preferences: Customer preferences for aesthetic procedures have been steadily increasing in the GCC region. This can be attributed to the growing awareness about the benefits of cosmetic surgeries and the desire to enhance one's appearance. People in the GCC are increasingly opting for procedures such as breast augmentation, liposuction, and rhinoplasty to improve their physical appearance. Additionally, there is a growing demand for minimally invasive procedures, which offer quicker recovery times and fewer complications.

Trends in the market: One of the key trends in the General & Plastic Surgery Devices market in GCC is the adoption of advanced technologies. Surgeons in the region are increasingly using innovative devices and techniques to deliver better outcomes for their patients. For example, the use of robotic surgery systems has gained popularity in the GCC, allowing for more precise and minimally invasive procedures. Additionally, the market is witnessing the introduction of new implant materials and 3D printing technologies, which enable customized solutions for patients. Another trend in the market is the rise of medical tourism in the GCC. Many people from neighboring countries and even from outside the region are traveling to the GCC for cosmetic procedures. This is due to the presence of world-class healthcare facilities, highly skilled surgeons, and competitive pricing. The availability of state-of-the-art General & Plastic Surgery Devices in the GCC further enhances its attractiveness as a medical tourism destination.

Local special circumstances: The GCC region has unique circumstances that contribute to the growth of the General & Plastic Surgery Devices market. One of the factors is the high disposable income of the population. The GCC countries are known for their affluent population, which enables individuals to afford cosmetic procedures. Moreover, the cultural norms in the region also play a role in driving the demand for aesthetic procedures. There is a strong emphasis on physical appearance and beauty, which drives individuals to seek cosmetic enhancements.

Underlying macroeconomic factors: The General & Plastic Surgery Devices market in the GCC is also influenced by underlying macroeconomic factors. The region has been experiencing steady economic growth, which has led to an increase in healthcare expenditure. The governments in the GCC countries are investing in healthcare infrastructure and promoting medical tourism, which further fuels the demand for General & Plastic Surgery Devices. Additionally, the GCC countries have a young population, and as the population ages, the demand for cosmetic procedures is expected to grow. In conclusion, the General & Plastic Surgery Devices market in GCC is experiencing growth due to increasing customer preferences for aesthetic procedures, advancements in technology, and the rise of medical tourism. The adoption of advanced technologies, the presence of world-class healthcare facilities, and the high disposable income of the population are driving the market in the region. With the underlying macroeconomic factors supporting the growth, the market is expected to continue expanding in the coming years.

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.