The Middle-East

Although I strongly believe that Europe will remain the major target for growth for US medical device companies for the foreseeable future (currently representing over 30% market share of total expenditures of medical devices), a tactical move on the part of senior executives is to look for markets that have low entry barriers, good sales potential and that can justify the effort, time and focus spent, concurrently.

While pursuing market research, regulatory approvals and/or clinical trials in Europe, US companies should have the flexibility to be able to focus on other promising international markets such as the Middle-East.

The Middle-East is comprised of 16 countries spanning from Egypt to oil-rich Saudi Arabia and the Gulf States (Bahrain, Qatar, Kuwait, the UAE, etc.) to the reviving economy of Iraq. Some key figures and points to be considered are as follows:

• Total Middle-East market estimated to be close to USD $100 billion
• No additional regulatory approvals needed as FDA is widely approved and highly recognized
• Population: 341 Million
• Per capita GDP: $662 (Palestine) up to $29,100 (UAE)
• Estimated growth (source: IMF)
• 2008: +6.1%
• 2009: +6.1%
• Arab Health
• The premier event for the Middle-East. Brings together healthcare manufacturers, wholesalers, dealers and distributors. Annual event – next trade show: 26 – 29 January 2009.

For more information about the Middle-East market and/or Arab Health, please contact Christian B. Chahine - MDT International at: cchahine@mdtinternational.eu