Market Insights Health Medical Technology

Medical Devices - Kazakhstan

Kazakhstan

In 2024, the projected revenue in the Medical Devices market market in Kazakhstan is expected to reach US$767.10m.
Among the various markets, Cardiology_Devices is anticipated to be the largest, with a projected market volume of US$120.50m in the same year.
Looking ahead, the revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 6.80%, resulting in a market volume of US$1,066.00m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$179.80bn in 2024.
Kazakhstan's medical device market is experiencing a surge in demand for advanced diagnostic imaging equipment to address the growing healthcare needs of its population.

Key regions: Germany, Spain, Japan, United Kingdom, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Medical Devices market in Kazakhstan has been experiencing steady growth in recent years.

Customer preferences: Customers in Kazakhstan have shown a growing preference for technologically advanced and innovative medical devices. They are increasingly seeking devices that offer improved accuracy, efficiency, and convenience. This trend is driven by the desire for better healthcare outcomes and the need to reduce healthcare costs. Additionally, customers in Kazakhstan are becoming more aware of the latest medical advancements and are willing to invest in devices that can improve their quality of life.

Trends in the market: One of the key trends in the Medical Devices market in Kazakhstan is the increasing demand for diagnostic and monitoring devices. With the rising prevalence of chronic diseases, there is a growing need for devices that can accurately diagnose and monitor these conditions. This includes devices such as blood glucose monitors, blood pressure monitors, and electrocardiogram machines. The demand for these devices is expected to continue growing as the population ages and the incidence of chronic diseases increases. Another trend in the market is the growing adoption of telemedicine and remote patient monitoring devices. These devices allow healthcare professionals to remotely monitor patients and provide care from a distance. This is particularly beneficial in a country like Kazakhstan, where access to healthcare facilities may be limited in remote areas. The COVID-19 pandemic has further accelerated the adoption of telemedicine and remote patient monitoring devices, as it allows patients to receive care while minimizing the risk of exposure to the virus.

Local special circumstances: Kazakhstan has a rapidly aging population, which is driving the demand for medical devices. As the population ages, the incidence of age-related diseases and conditions increases, creating a need for devices that can assist in the diagnosis, treatment, and management of these conditions. Additionally, the government of Kazakhstan has been investing in the development of the healthcare sector, which includes the procurement of medical devices. This has further contributed to the growth of the market.

Underlying macroeconomic factors: The growth of the Medical Devices market in Kazakhstan is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and healthcare expenditure. As a result, more people are able to afford medical devices and are willing to invest in their health. Furthermore, the government has implemented healthcare reforms to improve the accessibility and quality of healthcare services, which has also contributed to the growth of the market. In conclusion, the Medical Devices market in Kazakhstan is experiencing steady growth due to customer preferences for technologically advanced devices, the increasing demand for diagnostic and monitoring devices, the adoption of telemedicine and remote patient monitoring devices, the aging population, and underlying macroeconomic factors such as economic growth and healthcare reforms.

Methodology

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.