Qatar’s medical device market to reach $298.6m by 2028

Posted by Admin November 8, 2024 World

Qatar’s medical device market to reach 8.6m by 2028

Staff Reporter

Photo from Envato

The sector will benefit from stronger hydrocarbon output and a rebound in investment.

Qatar’s medical device market is projected to reach $298.6m by 2028 at a compound annual growth rate of 5.7% in local currency and US dollar terms.

BMI said that the sector will benefit next year from stronger hydrocarbon output and a rebound in investment, driven by an aggressive monetary easing cycle expected to lift GDP growth to 2.2%.

In addition, the market will be driven by the 2024-2030 Health Strategy, launched last October by the Ministry of Health.

“We expect the strategy will support growth in advanced and digital devices, devices related to the prevention of non-communicable diseases, including diagnostic imaging devices, and consumables related to vaccinations,” the report said.

Moreover, sustained government investment in Qatar’s healthcare system will further drive the sector’s growth in the long term.

Join
Healthcare Asia Magazine
community

Since you’re here…

…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!