TORONTO--()--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the relatively underpenetrated Middle Eastern markets for peripheral vascular (PV) devices show excellent growth potential. Peripheral vascular disease is increasingly recognized as a serious disease in Saudi Arabia, Egypt and Turkey. Combined with aging populations and increases in obesity, this will result in a market growth averaging nearly 10 percent per year through 2016.
“This regional PV market has become increasingly important in recent years”
Many peripheral artery diseases are not immediately life threatening, and so their severity is often underestimated. However, peripheral diseases often develop into acute problems requiring cardiac intervention or amputation. Increasing awareness of these diseases has led to demand for treatment in these countries.
In addition, age, obesity and diabetes all increase the incidence of peripheral vascular disease. Middle Eastern countries have extremely high rates of obesity and diabetes. As a result of rising obesity rates Saudi Arabia and Egypt are both in the top ten countries worldwide for diabetes prevalence. Healthcare facilities and manufacturers in the region are turning their attention to treatment, which will lead to growth in all segments of the market.
While population of Saudi Arabia is dwarfed by those of Egypt and Turkey, its per capita GDP is by far the largest. As a result it will see the strongest growth in the PV device market in the region. Egypt has been struggling financially since the 2011 revolution, and will see the slowest growth. Continuing Turkish government investment in the healthcare system will lead to significant growth there. Turkish vascular surgeons are pushing for recognition as a specialty distinct from cardiology. This will lead to the creation of specialized vascular centers, also supporting growth.
“This regional PV market has become increasingly important in recent years,” said MRG Analyst Tonya Martin. “MRG now provides the only detailed view of the market for peripheral vascular devices in Saudi Arabia, Turkey and Egypt. Anyone seeking to take advantage of opportunities in these markets should take advantage of our data and analysis.”
Millennium Research Group’s Middle Eastern Markets for Peripheral Vascular Devices 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters for PV stents, PTA balloon catheters, embolic protection devices, aortic stent grafts, synthetic surgical grafts and PV accessory devices sold in Saudi Arabia, Egypt and Turkey.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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