Market Insights Health Medical Technology Medical Devices

Other Medical Devices - Oman

Oman

The projected revenue in the Other Medical Devices market market in Oman is estimated to reach US$224.00m in 2024.
It is expected that the revenue will display an annual growth rate (CAGR 2024-2029) of 6.58%, ultimately leading to a market volume of US$308.00m by 2029.
When compared globally, the United States is projected to generate the highest revenue, amounting to US$72,780.00m in 2024.
Oman's market for other medical devices in the medical technology sector is witnessing a surge in demand due to the country's growing healthcare infrastructure and increasing focus on advanced medical treatments.

Key regions: United Kingdom, Netherlands, Japan, United States, Europe

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Analyst Opinion

The Other Medical Devices market in Oman has been experiencing steady growth in recent years. Customer preferences have played a significant role in shaping the market trends, along with local special circumstances and underlying macroeconomic factors.

Customer preferences: Customers in Oman have shown a growing preference for advanced and innovative medical devices. They are increasingly seeking out devices that offer improved accuracy, efficiency, and ease of use. This is driving the demand for technologically advanced medical devices in the country. Additionally, customers are also becoming more conscious about the quality and safety of the devices they use, leading to a higher demand for certified and regulated medical devices.

Trends in the market: One of the key trends in the Other Medical Devices market in Oman is the increasing adoption of digital health technologies. This includes devices such as wearable fitness trackers, remote patient monitoring devices, and telemedicine solutions. These technologies are helping patients and healthcare providers to monitor and manage health conditions remotely, leading to improved healthcare outcomes and reduced healthcare costs. Another trend in the market is the growing focus on home healthcare devices. With an aging population and a rise in chronic diseases, there is a greater need for medical devices that can be used at home. This includes devices such as glucose monitors, blood pressure monitors, and respiratory devices. The convenience and cost-effectiveness of using these devices at home are driving their popularity in the market.

Local special circumstances: Oman has a well-established healthcare system that is focused on providing high-quality care to its citizens. The government has been investing in the development of healthcare infrastructure and services, which has created a favorable environment for the growth of the Other Medical Devices market. The country also has a growing medical tourism industry, attracting patients from neighboring countries who seek advanced medical treatments. This has further contributed to the demand for medical devices in the market.

Underlying macroeconomic factors: Oman has a stable economy with a strong focus on diversification and development. The government has been investing in various sectors, including healthcare, to drive economic growth. This has resulted in increased healthcare spending and a higher demand for medical devices. Additionally, the country has a favorable regulatory environment for medical devices, which has attracted international manufacturers to enter the market. The presence of international players has further contributed to the growth of the Other Medical Devices market in Oman. In conclusion, the Other Medical Devices market in Oman is experiencing growth due to customer preferences for advanced and innovative devices, the adoption of digital health technologies, the focus on home healthcare devices, the local special circumstances of a well-established healthcare system and a growing medical tourism industry, and the underlying macroeconomic factors of a stable economy and favorable regulatory environment.

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.