What lies ahead UAE’s medical device market?

The government pledged $150m to build 10 hospitals over the next decade.

The UAE’s medical device market is expected to expand at a compound annual growth rate (CAGR) of 3.4% between 2024 and 2029 to reach $2b, according to a BMI report.

Amongst product categories, “other medical devices”—including hospital furniture, sterilisers and ophthalmic instruments—will record the fastest growth, with a CAGR of 6% in both US dollar and AED terms.

Growth is driven by government investments, including a $150m pledge announced in July 2024 to build 10 hospitals over the next decade, and approvals granted in May for new healthcare facilities in residential zones to be completed by 2033.

“The UAE’s overall CAGR will be flat but consistent over the forecast period, reflecting the stable nature of its medical device market as it becomes a more mature market relative to other MENA markets,” the report said.

Orthopaedics and prosthetics are also expected to expand amidst rising demand for mobility surgeries such as hip and knee replacements linked to the country’s diabetes burden.

Meanwhile, diagnostic imaging and consumables are projected to remain amongst the largest market segments.