Market Insights Health Medical Technology Medical Devices

Other Medical Devices - Myanmar

Myanmar

In Myanmar, the revenue in the Other Medical Devices market market is estimated to reach US$71.85m in 2024.
Looking ahead, the market is expected to experience a steady annual growth rate (CAGR 2024-2029) of 4.76%, which will lead to a market volume of US$90.66m by 2029.
It is worth noting that in a global context, the United States is projected to generate the highest revenue in this market, with a staggering US$58,900.00m in 2024.
Myanmar's market for other medical devices in the medical technology sector is experiencing a surge in demand due to the country's growing healthcare infrastructure and increasing focus on improving healthcare services.

Key regions: United Kingdom, China, Netherlands, Europe, Italy

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Analyst Opinion

The Other Medical Devices market in Myanmar is experiencing significant growth and development.

Customer preferences: Customers in Myanmar are increasingly seeking out a wide range of medical devices to meet their healthcare needs. They are looking for technologically advanced and reliable devices that can improve the quality of healthcare services in the country. There is a growing demand for devices such as diagnostic equipment, surgical instruments, and therapeutic devices. Customers are also showing interest in portable and user-friendly medical devices that can be easily used in remote areas with limited access to healthcare facilities.

Trends in the market: One of the key trends in the Other Medical Devices market in Myanmar is the increasing adoption of digital health technologies. This includes the use of mobile health applications, telemedicine services, and wearable devices. These technologies are helping to bridge the gap in healthcare access and improve the overall healthcare outcomes in the country. Additionally, there is a growing trend of partnerships and collaborations between local medical device manufacturers and international companies to bring advanced medical devices to the market.

Local special circumstances: Myanmar is a developing country with a rapidly expanding healthcare sector. The government has been investing in improving healthcare infrastructure and services, which has created a favorable environment for the growth of the Other Medical Devices market. Additionally, the country has a large population with a significant unmet need for healthcare services, which further drives the demand for medical devices. The increasing disposable income and changing lifestyles of the population are also contributing to the growth of the market.

Underlying macroeconomic factors: The economic growth of Myanmar has been driving the development of the healthcare sector, including the Other Medical Devices market. The country has been experiencing steady economic growth, which has led to an increase in healthcare spending. The government has also implemented policies and initiatives to attract foreign investment in the healthcare sector, which has further boosted the market. Additionally, the rising awareness about healthcare and the increasing prevalence of chronic diseases in the country are driving the demand for medical devices.

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.