Middle East: Pacemaker Market 2024

Pacemaker Market Size in the Middle East

The Middle Eastern pacemaker market reached $X in 2021, rising by 10% against the previous year. Overall, consumption saw strong growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Pacemaker Production in the Middle East

In value terms, pacemaker production reached $X in 2021 estimated in export price. Over the period under review, production posted a remarkable increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 44% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Pacemaker Exports

Exports in the Middle East

Pacemaker exports soared to X units in 2021, increasing by 16% on 2020 figures. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 121% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pacemaker exports contracted dramatically to $X in 2021. Overall, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 73%. The level of export peaked at $X in 2020, and then contracted sharply in the following year.

Exports by Country

Turkey was the major exporter of pacemakers for stimulating heart muscles (excl. parts and accessories) in the Middle East, with the volume of exports finishing at X units, which was approx. 52% of total exports in 2021. The United Arab Emirates (X units) took the second position in the ranking, followed by Iran (X units) and Saudi Arabia (X units). All these countries together held near 43% share of total exports. Jordan (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to pacemaker exports from Turkey stood at +38.9%. At the same time, Saudi Arabia (+51.9%), Jordan (+34.4%) and the United Arab Emirates (+26.5%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +51.9% from 2012-2021. By contrast, Iran (-10.4%) illustrated a downward trend over the same period. While the share of Turkey (+47 p.p.), the United Arab Emirates (+13 p.p.) and Saudi Arabia (+10 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Iran (-69 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pacemaker supplying countries in the Middle East were Turkey ($X), Iran ($X) and Saudi Arabia ($X), together comprising 74% of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of +60.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, which is down by -27.8% against the previous year. Overall, the export price, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2018 when the export price increased by 180% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+10.3%), while the other leaders experienced mixed trends in the export price figures.

Pacemaker Imports

Imports in the Middle East

Pacemaker imports soared to X units in 2021, surging by 34% compared with 2020. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.4% against 2017 indices. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, pacemaker imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 39%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X units) was the major importer of pacemakers for stimulating heart muscles (excl. parts and accessories), constituting 42% of total imports. Iran (X units) held a 26% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (9.4%), Israel (7.2%) and the United Arab Emirates (6%). Kuwait (X units) and Syrian Arab Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of +16.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Turkey ($X) and Iraq ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 61% of total imports. Israel, the United Arab Emirates, Kuwait and Syrian Arab Republic lagged somewhat behind, together accounting for a further 19%.

The United Arab Emirates, with a CAGR of +13.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the import price showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2019 an increase of 20% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Syrian Arab Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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