UAE Coronary Stents Market Report 2022 to 2030

UAE Coronary Stents Market Analysis

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UAE's Coronary Stents Market is expected to witness growth from $57 Mn in 2022 to $88 Mn in 2030 with a CAGR of 5.75% for the forecasted year 2022-30. In the UAE, the prevalence of coronary artery disease is increasing as a result of factors such as poor diet, smoking, and rising obesity rates. As a result, the need for coronary stents to treat the condition is rising. The market is segmented by type and by gender. Some key players in this market include Neopharma, Emirates Biotech Pharmaceutical, Medtronic, GE Healthcare, Boston Scientific, and Philips Healthcare.

ID: IN10AEMD006 CATEGORY: Medical Devices GEOGRAPHY: UAE AUTHOR: Jigyasu Bhandari

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UAE Coronary Stents Healthcare Market Executive Analysis

UAE's Coronary Stents Market size is at around $57 Mn in 2022 and is projected to reach $88 Mn in 2030, exhibiting a CAGR of 5.75% during the forecast period. The UAE is expected to spend more on healthcare than any other country in the Gulf Cooperation Council growing at a 7.4% CAGR to $30.7 billion by 2027 from $21.5 billion in 2022. Between 2022 and 2027, the population of the UAE is projected to grow at a CAGR of 1.6%. Therefore, it is anticipated that per capita healthcare spending will increase from $2,041.3 in 2022 to $2,689.4 in 2027.

In the UAE, there is a significant prevalence of coronary artery disease, with an estimated prevalence of 5.5% in males and 2.9% in women. Coronary stents are used to treat constrictive or blocked heart arteries and balloon angioplasty—a treatment in which a tiny balloon is inflated inside the constrictive area to widen it—is sometimes suggested in addition to or instead of balloon angioplasty. Stents assist in enhancing blood flow to the heart muscle, which can lessen the signs and symptoms of weariness, shortness of breath, and chest pain related to coronary artery disease. By keeping plaque from rupturing and resulting in a blood clot that could block the artery, stents can lower the chance of having a heart attack. Stenting is a minimally invasive treatment that usually only necessitates a tiny puncture or incision in the skin. This can lower the risk of problems and hasten healing. Stents are strong and can stay in the artery for a long time, continuing to support the artery's opening.

UAE Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In the UAE, the prevalence of coronary artery disease is increasing as a result of factors such as poor diet, smoking, and rising obesity rates. As a result, the need for coronary stents to treat the condition is rising. Manufacturers in the UAE coronary stents market now have new growth potential thanks to the development of innovative stent technologies such as drug-eluting stents and bioresorbable stents. Comparing these stents to conventional bare-metal stents, they give better results and fewer problems. In the UAE, there is a rising awareness of heart disease, which has increased coronary artery disease screening and diagnosis. The need for coronary stents as a therapy option is being driven by this. Due to variables like population growth, ageing, and the incidence of chronic diseases, healthcare spending is rising in the UAE. As a result, there is an increasing demand for medical equipment like coronary stents.

Market Restraints

Cost is a significant consideration for many patients in the UAE who are looking at treatment options for coronary artery disease because coronary stents can be pricey. The use and adoption of coronary stents may be constrained by their high cost, especially among patient populations with significant price sensitivity. Manufacturers may find it difficult to operate in the UAE's medical device regulatory environment due to the country's strict laws and approvals procedures. Due to this, the process of bringing new items to market may take longer and cost more money.

Competitive Landscape

Key Players

Neopharma (UAE)
Emirates Biotech Pharmaceutical (UAE)
Boston Scientific
Abbott Laboratories
GE Healthcare
Medtronic
Philipps Healthcare
BIOTRONIC SE

Healthcare Policies and Regulatory Landscape

In the UAE, the Ministry of Health and Prevention (MOHAP) is in charge of regulating and monitoring healthcare practices. They do their best to make sure healthcare suppliers and producers adhere to national healthcare laws and standards. Medical device regulation and oversight in the UAE are the purviews of the Emirates Health Regulatory Authority (EHRA). To assure the safety and effectiveness of medical devices, including coronary stents, they are in charge of approving and regulating them. In the United Arab Emirates, medical equipment, including coronary stents, is governed by UAE Federal Law No. 4 of 2016. It specifies the prerequisites for the licencing, purchase, and sale of medical devices as well as the consequences of noncompliance. The Dubai Health Authority (DHA) is in charge of regulating and monitoring the healthcare system in the Emirate of Dubai. They aim to make sure healthcare suppliers and producers abide by regional healthcare laws and standards.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Coronary Stents Market Segmentation

By Type (Revenue, USD Billion):

The three main categories of coronary stents are bare-metal, drug-eluting, and bioabsorbable, depending on their nature. The segment for bioabsorbable stents is anticipated to increase at the fastest rate over the forecast period. The benefits that are encouraging the use of bioabsorbable stents include a decrease in problems including thrombosis and inflammation, the cUAEity to restore normal vasomotion, and an improvement in aberrant endothelial function. However, in the upcoming years, the expansion of this market segment is anticipated to be constrained by the high cost of bioabsorbable stents.

Bare-metal Stents
Drug-eluting Stents
Bioabsorbable Stents

By Mode of Delivery (Revenue, USD Billion):

The market is divided into self-expanding and balloon-expandable stents according to delivery method. Because of the high use of these stents, rising research initiatives to advance the technology, and rising regulatory approvals for balloon-expandable stents, the balloon expandable stents segment is anticipated to increase at the greatest CAGR over the projection period.

Balloon-expandable Stents
Self-expanding Stents

By Materials (Revenue, USD Billion):

The coronary stent market is divided into metallic (cobalt chromium, platinum chromium, nickel-titanium, and stainless steel) and other stents according to the material. The market for other stents is anticipated to experience the largest CAGR growth during the projection period. The rapid expansion of this market can be ascribed to the increased use of polymers and copolymers in the production of bioabsorbable stents.

Metallic Stents
Cobalt-Chromium
Platinum Chromium
Nickel Titanium
Stainless Steel
Other Stents

By End User (Revenue, USD Billion):

The coronary stent market is divided into hospitals, cardiac centres, and ambulatory surgical centres based on the end user. According to predictions, the hospital sector will control the market in 2016. This is primarily caused by hospitals using a lot of coronary stents.

Hospitals
Cardiac Centers
Ambulatory Surgical Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.