DUBLIN--(BUSINESS WIRE)--The "Hospital Equipment and Supplies Market in Asia-Pacific and Middle-East Africa - Industry Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The AMEA hospital equipment and supplies market is expected to reach $102 billion by 2024, growing at a CAGR of more than 9% during 2018-2024.
The AMEA hospital equipment and supplies market has been witnessing a wide range of technological innovations and improvements. Vendors are focusing on developing new technological platforms to improve and enhance the treatment outcome. The demand for advanced healthcare technology to improve patient care services is expected to drive the AMEA hospital equipment and supplies market. Industry suppliers, medical device companies, IT vendors, and pharmaceutical manufacturers are partnering with public and private sectors to introduce outcome-based insurance models for expensive healthcare services.
Further, the exponential growth in digital healthcare & telehealth services is driving the AMEA hospital equipment and supplies market. Digital technologies are supporting the healthcare sector, especially hospitals to shift to a new patient-centered care model and develop smart health approaches to increase access, improve quality, enhance affordability, and reduce cost.
AMEA Hospital Equipment and Supplies Market: Segmentation
This market research report includes a detailed segmentation of the market by products, hospital types, and geography.
Capital equipment, general supplies and consumables, and implants are the three primary product types in the AMEA hospital equipment and supplies market. The capital equipment segment has captured more than one-third of the entire medical equipment market due to the increasing focus on effective management of medical conditions and the growing awareness about improvised care to patients. Also, the growing prevalence of several acute and chronic diseases is majorly contributing to the growth of the capital investment segment in AMEA. Leading healthcare industry vendors are focusing on introducing capital equipment with new capabilities and features, including automation.
The AMEA hospital equipment and supplies market by hospital type is segmented into public and private owned. The public sector is prevailing and growing at a CAGR of around 8%. Governments in APAC & MEA countries are focusing on quality medical equipment and supplies manufacturing and improving the infrastructure of public hospitals. The introduction of government-funded UHC schemes in countries such as India, the UAE, Saudi Arabia and the enhancements in the existing UHC schemes in countries such as China, Thailand, Singapore, and Japan has the potential to increase hospitalizations and healthcare expenditure in the Asia-Pacific & MEA region significantly. For instance, the Government of Indonesia plans to cover all citizens under the National Health Insurance program by 2019.
Market Dynamics
Market Growth Enablers
- Higher Prevalence of Diseases and Increasing Aging Population
- Rising Healthcare Investments and Favorable Government Initiatives
- Technological Advancements/Improvements
Market Growth Restraints
- Inadequate Healthcare Infrastructure & Lack of Skilled Workforce
- Limited Reimbursement Coverage & Declining Reimbursement Rates
- Varied Regulatory Framework Poses Challenges for Vendors
Market Opportunities & Trends
- Growing Popularity of Medical Tourism
- High Growth Potential of Telehealth in AMEA Region
- Increasing Demand for Portable Medical Devices
Key Vendor Analysis
The AMEA hospital equipment and supplies market is highly dynamic due to the presence of several global, regional, and local players. Leading vendors are offering a diverse range of IV catheters and blood glucose monitoring devices. Manufacturers are also focusing on implementing the latest technologies to deliver unmatched medical equipment. Start-up med-companies are merging with leading industry players to introduce new-age medical devices and penetrate new geographies.
Major Vendors in AMEA Hospital Equipment and Supplies Market:
- Abbott
- Boston Scientific
- BD
- Cardinal Health
- Johnson & Johnson
- Koninklijke Philips
- Medtronic
- Siemens Healthineers
- Stryker
Other Prominent Vendors:
- AngioDynamics
- AR Baltic Medical
- Argon Medical Devices
- Ascensia Diabetes Care Holding
- B. Braun Melsungen
- Baxter International
- bioMrieux
- BIOTRONIK
- Biosensors International Group
- Danaher
- Dentsply Sirona
- Edwards Lifesciences
- Endocor
- F. Hoffmann-La Roche
- Fresenius Medical Care
- Hindustan Syringes & Medical Devices
- Institut Straumann
- iVascular
- LivaNova
- Lepu Medical Technology
- Merit Medical Systems
- Nipro
- Planmeca OY
- Smith & Nephew
- Smiths Medical
- Teleflex
- Terumo
- TTK Healthcare
- QT Vascular
- Zimmer Biomet
For more information about this report visit https://www.researchandmarkets.com/r/ppy9y4
