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

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.