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Other Medical Devices - Pakistan

Pakistan
  • The projected revenue in the Other Medical Devices market market in Pakistan is expected to reach US$138.00m in 2024.
  • Looking ahead, the market is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 5.42%, which would result in a market volume of US$179.70m by 2029.
  • It is worth noting that in global comparison, the United States is expected to generate the highest revenue of US$58.90bn in 2024.
  • Pakistan's Other Medical Devices market is witnessing a surge in demand due to the country's growing healthcare infrastructure and increased focus on improving access to healthcare services.

Definition:
The market Other Medical Devices covers revenues for areas that are not specifically mentioned in the other submarkets, such as endoscopy, drug delivery, dental medicine, wound management, diabetes care, nephrology, neurology, and ENT.

In-Scope

  • Drug delivery
  • Wound management

Out-Of-Scope

  • Medical devices covered in other markets
  • Pharmaceuticals
  • Services (i.e., treatment expenses)
  • Consumer technologies, e.g., fitness trackers
  • Blood and transplants derived from the human body
Medical Devices: market data & analysis - Cover

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Medical Devices: market data & analysis

Study Details

    Revenue

    Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.

    Most recent update: Aug 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

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

    Customer preferences:
    Customers in Pakistan have shown a growing demand for Other Medical Devices due to various factors. Firstly, there is an increasing awareness about the importance of healthcare and the need for advanced medical devices. As the healthcare infrastructure in Pakistan continues to improve, there is a greater emphasis on the use of modern medical equipment to provide better healthcare services. Additionally, the aging population in the country has also contributed to the demand for Other Medical Devices, as there is a greater need for medical devices to manage and treat age-related conditions.

    Trends in the market:
    One of the key trends in the Other Medical Devices market in Pakistan is the adoption of innovative technologies. Manufacturers are constantly introducing new and advanced medical devices to cater to the evolving needs of healthcare providers and patients. This includes devices such as wearable medical devices, remote monitoring systems, and smart medical devices. These devices offer improved accuracy, convenience, and efficiency in healthcare delivery, which is driving their adoption in Pakistan. Another trend is the increasing focus on home healthcare and self-monitoring devices. With the rising cost of healthcare and the need for convenient healthcare solutions, there is a growing demand for medical devices that can be used at home for monitoring and managing various health conditions.

    Local special circumstances:
    Pakistan has a large population with limited access to healthcare facilities, especially in rural areas. This has created a demand for portable and affordable medical devices that can be used in remote locations. Manufacturers are responding to this demand by developing cost-effective and portable medical devices that can be easily transported and used in areas with limited healthcare infrastructure. Additionally, there is a strong presence of local manufacturers in the Other Medical Devices market in Pakistan. These manufacturers cater to the specific needs and preferences of the local market, providing customized solutions at competitive prices.

    Underlying macroeconomic factors:
    The economic growth in Pakistan has had a positive impact on the Other Medical Devices market. As the economy continues to grow, there is an increase in disposable income, which allows individuals to spend more on healthcare and medical devices. Additionally, the government of Pakistan has been focusing on improving the healthcare infrastructure in the country, which includes the procurement of medical devices. This has created a favorable environment for the growth of the Other Medical Devices market. Furthermore, the favorable regulatory environment and government initiatives to promote the healthcare sector have also contributed to the growth of the market.

    Global Comparison

    Most recent update: Aug 2024

    Source: Statista Market Insights

    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.

    Health

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    Medical Devices: market data & analysis - BackgroundMedical Devices: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Medical technology industry - statistics & facts

    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.
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