(MENAFN- The Peninsula)
Fazeena Saleem
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The Peninsula
Doha, Qatar: Implementation of the National health Strategy 2024-2030 is expected to facilitate significant growth in the medical devices sector and digital health devices.
The strategy will help grow advanced and digital devices, products that prevent non-communicable diseases, like diagnostic imaging devices, and supplies used for vaccinations, according to a forecast by BMI, a Fitch Solutions company.
The National Health Strategy 2024-2030, launched in October, focuses on improved population health and wellbeing; excellence in service delivery and experience; and health system efficiency and resilience. The strategy aims to deliver the population of Qatar an integrated health system centred on clinical excellence, sustainability and innovation.
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The strategy will implement 300 projects and initiatives targeting integrated patient pathways, digitising healthcare systems and strengthening research. The initiatives include universal vaccination coverage, occupational and environmental health, food safety, continuous improvement of care models, health tourism and the development of a skilled workforce.
BMI predicts that Qatar's medical device market will grow at a steady rate through 2028. It expects the market to grow by 5.7% annually and reach QR1.1bn ($298.6m) by 2028. BMI predicts that the growth will be boosted in 2025 by higher oil production and increased investment, driven by monetary policy changes that will help GDP grow by 2.2%. Long-term growth will also be supported by ongoing government investment in Qatar's healthcare sector.
According to BMI, the National Health Strategy 2024-2030 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.
“Orthopaedics and patient aids will record the fastest growth over the forecast period due to the ageing population,” says BMI.
The UN Population Fund has predicted the number of those aged over 60 in Qatar will increase from 3.6% of the population in 2020 to 20.3% of the population in 2050.
“This will significantly increase demand for orthopaedic devices and patient aids, such as hearing aids and pacemakers, over the forecast period and beyond. Government investment into these product areas will also be supported by the health strategy, as well as demand for orthopaedic products from a growing medical tourism industry,” says the BMI report.
At present, both product areas make up only a small percentage – orthopaedics 7% and patient aids 10% of the total medical devices market share.
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