As Per the Research Report, the Size of the Middle East and Africa IV Equipment Market is valued at USD 0.83 billion in 2023 and expected to grow at a CAGR of 1.4%, reaching USD 1.06 billion by 2028 during the forecast period 2023 to 2028.
One of the main drivers affecting the MEA IV equipment market is the aging population with chronic diseases, especially in developing regions, which will increase the number of surgical procedures. In addition, strong economic growth across the GCC countries should provide significant growth opportunities for companies active in the MEA IV equipment market.
The penetration of IV equipment in hospitals due to the increase in surgeries across the MEA region will support the market. In addition, the growing demand for reliability and durability in the medical world has amplified the adoption of lifesaving equipment, including IV rods, in hospitals to aid healthcare workers. Furthermore, the demand for better patient care owing to the rising number of hospitalizations and increased availability of trained professionals will drive the market's growth.
Ongoing research and development seen in the MEA region with the growing advent of various healthcare innovations and the emergence of ambulatory infusion pumps are further drivers driving the market growth. In addition, rising government awareness initiatives will also support the market.
On the other hand, the high costs associated with processing will restrain the market growth. Furthermore, medication errors caused by IV equipment's resulting in product recalls and unfavorable reimbursement policies, especially in developing economies, coupled with stringent regulatory requirements and compliances, will pose additional challenges for the market.
Additionally, a strict regulatory environment and lack of wireless connectivity in surgical centers and hospitals may stifle the growth of the MEA IV equipment market.
This research report on the Middle East & Africa IV Equipment Market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the Middle East & Africa IV Equipment Market accounted for the largest market share globally due to the presence of sophisticated healthcare facilities and the increasing prevalence of chronic diseases during the forecast period.
The UAE IV Equipment Market is expected to be the lucrative market in the MEA region due to the increase in surgical procedures over the predicted period.
The Saudi Arabia IV Equipment Market dominates the MEA IV Equipment Market in terms of revenue due to the high disposable income coupled with an increase in healthcare infrastructure will provide ample growth opportunities for the MEA IV Equipment Market.
The South African IV Equipment Market will have a promising and steady CAGR during the assessment period.
KEY MARKET PLAYERS
Key Market Participants dominating the Middle East & Africa IV Equipment Market are Baxter International Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), ICU Medical, Inc. (U.S.), Terumo Corporation (Japan.), C. R. Bard, Inc. (U.S.)., Smiths Medical (U.K.), Moog, Inc. (U.S.), Becton, Dickinson, and Company (U.S.), B. Braun Melsungen AG (Germany),
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