Expanding healthcare infrastructure key driver for the medical device market.
Research specialists Fitch Solutions, the content partners of Arab Health 2021, have estimated that the UAE’s medical device market will reach Dhs5.6 billion by 2025, with an annual compound growth rate (CAGR) of 4.4% from 2020-2025.
According to the Q2 2021 Fitch Solutions United Arab Emirates Medical Device report, the market will benefit from an overall strong economic performance over the next five years. Key market drivers, including population growth, changing epidemiology, a growing medical tourism industry, healthcare infrastructure developments, expanding health insurance, digital transformation, and new technologies, will underpin growth.
The medical device market includes any product used in healthcare for the diagnosis, prevention, monitoring or treatment of illness or handicap, other than drugs such as consumables, diagnostic imaging, dental products, orthopedic & prosthetic products, and patient aids.
Ross Williams, Exhibition Director at Arab Health, said: “Arab Health has for the last 45 years been instrumental in the growth of the medical device sector by providing a platform to connect and do business with the global healthcare industry. In line with the UAE’s increasing budget allocation for the healthcare sector and ongoing healthcare development projects, we expect to play a pivotal role in the continued growth.
“This will be supported by a strong economic recovery post-2021, Dubai’s hosting of the World Expo which will have an encouraging impact of the healthcare sector, as well as urban expansion and the UAE retirements visa.”
As part of the Arab Health 2021 live event, the exciting healthcare star-up competition, Innov8 Talks, returns. A stand will be dedicated to showcasing 32 start-ups and their pitches, each dedicated to improving healthcare with the latest unique and innovative solutions in prevention, management, operations and diagnostics, amongst others.
Innovations include smart inhaler technology for drug delivery in respiratory issues by FindAir; a non-invasive wearable glucometer using laser light by GlucoActive; Angelo, the first hospital bed with artificial intelligence by Valiamo; and prodROBOT by Prodromus, manufacturers and suppliers of high-quality rehabilitation devices aimed at children, with a real-time biofeedback system.
Further underscoring Arab Health’s commitment to supporting innovators within the healthcare sector, a star-up zone has been created and will feature a host of regional and international companies showcasing their latest innovations.
Elsewhere on the show floor, companies including Draeger, Philips, Fujifilm, Honeywell, and Canon, will showcase their latest medical equipment advances.
A series of dedicated online focus days have taken place and will be available until July 22. These are designed to outline the latest products and technological advancements in the industry through a series of informative sessions covering oncology, imaging and diagnostics, paediatrics, critical care, patient monitoring, endoscopy, wellness, orthopaedics, surgery, consumables, and medical furniture.
Devices including the Aesculap Aeos by B.Braun, a new Robotic-assisted Digital Surgical Microscope Platform for neurosurgery, or the Fluorescence guided minimally invasive liver surgery by Richard Wolf Gmbh, have been featured.
“We’ve brought together a series of industry heavyweights at the forefront of innovation and technology in the healthcare sector. Now, more than ever, advances in medical devices are going to play a critical role in global recovery post-COVID-19,” added Williams.
Arab Health has been developed under the show theme of ‘United by Business, driving the industry forward, with the live, in-person event expected to welcome 2,000 exhibiting companies and over 24,500 attendees from 170 countries expected during the Live, in-person event.
Over 300 speakers are expected to come together for the Arab Health Congress to improve medical practice and ultimately improve patient outcomes. A total of 12 medical conferences will take place between June 21-24, nine of which will be Continuing Medical Education (CME) accredited, each allowing participants to network and develop international best practices.
As part of Informa Markets commitment to provide the highest hygiene levels at all events, the company has launched Informa AllSecure – a 35-point guide to ensuring attendee and staff safety.
Arab Health is the largest healthcare event in the Middle East and is organised by Informa Markets. Established 46 years ago, Arab Health provides a platform for the world’s leading manufacturers, wholesalers and distributors to meet the medical and scientific community in the Middle East and subcontinent.
The UAE healthcare market is witnessing significant growth as the government is regularly expanding and upgrading the healthcare system to provide world-class facilities,
Aster DM Healthcare, one of the leading healthcare service providers in the UAE and the region, picked up four recognitions of distinction at the coveted Business Excellence Awards under the healthcare category.
Recent initiatives in Gulf countries to facilitate patient access to new medicines and the advantages of integrating regulations related to drug trials and registration region wide were discussed at the GCC Regulatory Affairs Pharma Summit 2020,
Aside from the Expo 2020 Dubai being a fertile ground for essential and probably at-the-moment incomprehensible discoveries for what lies ahead,
Expo 2020 Dubai is playing a big role in the growth of the UAE retail sector as the numbers of the global visitors are increasing every passing day after its official opening on October 1, 2021.
The UAE Space Agency outlined the tremendous business opportunities in space exploration, scientific research and its potential to advance economic growth and human progress at Expo 2020 Dubai.