MARKET OUTLOOK
Triton’s report on the cardiovascular ultrasound system market in the Middle East and Africa states that the market is expected to grow with a CAGR of 4.35% in the forecast period 2019-2027.
Israel, Iran, Saudi Arabia and South Africa are the countries that form the cardiovascular ultrasound system market in the MEA region. The substantial healthcare spending in Saudi Arabia, particularly to improve the manufacturing of medical devices in the country is expected to boost market growth. Furthermore, the notable occurrence of cardiovascular diseases and related deaths every year in Saudi Arabia are expected to drive the healthy deployment of cardiovascular ultrasound systems for proactive diagnostics and the treatment of CVDs and thus, boost the growth across Saudi Arabia’s cardiovascular ultrasound system market.
In 2016, the Saudi Arabia Ministry of Health planned to spend approximately $18.5 billion every year on boosting healthcare in the country for 10 years till 2026, with a major focus on enhancing the manufacturing of medical devices in the country, which is expected to act as a key driver for Saudi Arabia’s cardiovascular ultrasound system market. Furthermore, according to the International Journal of Health Sciences, Saudi Arabia comprises approximately 42% of deaths attributed to CVDs. Therefore, the significant prevalence of cardiovascular diseases and related deaths in the country are expected to boost the adoption of cardiovascular ultrasound systems for the successful detection of cardiovascular diseases and hence, bolster the growth of the Saudi Arabia cardiovascular ultrasound system market.
COMPETITIVE OUTLOOK
The key companies profiled in the report include Samsung Electronics Co., Ltd., Atricure, Inc., Boston Scientific Corporation, Hitachi Medical Corporation, Fujifilm Holdings Corporation, Mindray Medical International Limited, Abbott Vascular, Inc. and Ultrasound Technologies Ltd.