Other Medical Devices - Bahrain

Bahrain

Highlights

The projected revenue in the Other Medical Devices market market in Bahrain is set to reach US$55.64m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 5.01%, leading to a market volume of US$71.05m by 2029.
In the global context, the United States is expected to generate the highest revenue, with US$58.90bn in 2024.
Bahrain is emerging as a hub for the development and manufacturing of innovative medical devices in the Other Medical Devices market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Medical Devices market in Bahrain is experiencing steady growth due to customer preferences for advanced medical technology, increasing healthcare expenditure, and favorable government initiatives.

Customer preferences: Customers in Bahrain prefer advanced medical devices that offer accurate diagnosis and treatment options. They value devices that are technologically advanced, user-friendly, and provide efficient healthcare solutions. This preference for advanced medical devices is driving the demand for Other Medical Devices in the country.

Trends in the market: One of the key trends in the Other Medical Devices market in Bahrain is the increasing adoption of telemedicine and remote monitoring devices. These devices allow healthcare professionals to remotely monitor patients' health conditions and provide timely medical interventions. The COVID-19 pandemic has further accelerated the adoption of telemedicine, as it reduces the need for in-person visits and minimizes the risk of infection transmission. Another trend in the market is the rising demand for minimally invasive surgical devices. These devices enable surgeons to perform complex procedures with smaller incisions, resulting in faster recovery times, reduced scarring, and lower risk of complications. The demand for minimally invasive surgical devices is driven by the growing preference for less invasive procedures among patients and the advancements in surgical techniques.

Local special circumstances: Bahrain has a well-developed healthcare system with a high standard of medical care. The country has invested significantly in healthcare infrastructure and facilities, attracting medical tourists from neighboring countries. This influx of medical tourists has contributed to the growth of the Other Medical Devices market in Bahrain. The government of Bahrain has also implemented several initiatives to promote the adoption of advanced medical technology. These initiatives include providing subsidies and incentives to healthcare providers for the purchase of medical devices, promoting research and development in the healthcare sector, and facilitating collaborations between local and international medical device manufacturers.

Underlying macroeconomic factors: Bahrain has a strong economy and a high per capita income, which enables individuals to afford advanced medical devices. The country has a well-established healthcare insurance system that covers a significant portion of medical expenses, making healthcare more accessible to the population. The government of Bahrain has been increasing its healthcare expenditure in recent years, allocating a larger portion of the budget to healthcare infrastructure development and the procurement of medical devices. This increased healthcare expenditure has created a favorable market environment for the growth of the Other Medical Devices market in Bahrain. In conclusion, the Other Medical Devices market in Bahrain is driven by customer preferences for advanced medical technology, increasing healthcare expenditure, and favorable government initiatives. The market is witnessing trends such as the adoption of telemedicine and remote monitoring devices, as well as the demand for minimally invasive surgical devices. With a well-developed healthcare system, government support, and a strong economy, Bahrain presents a promising market for the growth of the Other Medical Devices sector.

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.