Market Insights Health Medical Technology Medical Devices

Other Medical Devices - Pakistan

Pakistan

The projected revenue in the Other Medical Devices market market in Pakistan is expected to reach US$170.60m in 2024.
Looking ahead, the market is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 5.69%, which would result in a market volume of US$225.00m by 2029.
It is worth noting that in global comparison, the United States is expected to generate the highest revenue of US$72,780.00m 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.

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

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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.

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.