Market Trends of Home Healthcare Industry in UAE
This section covers the major market trends shaping the UAE Home Healthcare Market according to our research experts:
The Diagnostic Product Segment is Expected to Hold the Large Market Share in the Market Over the Forecast Period
The diagnostic products segment is expected to account for the most significant revenue over the forecast period due to a rise in the prevalence of chronic disorders, a rise in technological advancements, the launch of new products for self-monitoring like multi-parameter diagnostic monitors, home pregnancy, and fertility kits, coupled with the entry of various international players, and others.
The strategic initiatives taken by the various international players to enter the UAE market are also expected to propel the growth of the segment. For instance, in May 2022, Mainz Biomed N.V., a molecular genetics diagnostic company specializing in the early detection of cancer, and Dante Labs, one of the global leaders in genomics and precision medicine, signed a partnership for the commercialization of ColoAlert in the United Arab Emirates (UAE). ColoAlert is Mainz's flagship product, which is a highly effective and easy-to-use at-home detection test for colorectal cancer (CRC). Such partnerships are propelling the growth of the market segment.
Additionally, the entrance of various international diagnostic service providers also increases the demand for diagnostic products in the country and thus boosts the growth of the market segment. For instance, in August 2022, diagnostic service provider Healthians planned to enter the United Arab Emirates market. The company has planned to launch home care and telemedicine in the new market. Such initiatives taken by the players boost the growth of the market.
Thus, owing to the abovementioned factors, the market segment is expected to project significant growth over the forecast period.
