1. Results of the evaluation of the ninth Five-Year Health Development Plan presented remarkable growth in the distribution and quality of health services in Oman
Oman’s Healthcare sector including Blood Gas & POC Immunoassay Analyser Market is currently, although immature, is in its growing phase. Public hospitals have been a key driver of the industry with high installations of these devices as is evident from the increasing number of installations of these devices. This is mainly due to the high interest and planned objectives to improve the healthcare infrastructure in Oman. This trend has not only resulted in overall industry but has also left an opportunity in the private sector to become then next target audience. When it comes to competition between the players, a total of 13 key players have emerged in Oman Blood Gas & POC Immunoassay Analyzer Market. These players are competing on the basis of cost per test, testing parameters, design and portability of the product and friendly user interface. Individually, BGA market is quite mature & saturated while there is a low penetration rate for POC Immunoassay due to the introduction of POC handheld devices as an alternate.
2. Several opportunities for BGA Market in Oman lie in the private sector which is yet to be explored
While the public sector market for BGA is quite mature & saturated, private sector is yet to be explored & although the market has seen a surge in demand as a result of the Global pandemic during 2020-21, there are several challenges & risks when it comes to the growth of BGA Market in Oman. One such challenge can be a wastage of reagents whenever there is low demand. Moreover, once the kit has been used it should be completely utilized to prevent operational loss. Furthermore, If 2 types of consumables are put in 1 machine itself, consumable can break and would lead to wastage leading to procurement issues of the consumable. When it comes to exploring private sector, increased partnership between private and public sector to improve the healthcare infrastructure will help the diagnostic equipment market to grow and Public-private partnerships is also expected to ease economic burden of non-communicable diseases on government spending.
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3. TCM Market is currently immature since it is a slow moving product in Oman
Currently, the market for TCM is slow moving as a result of the same being a slow moving product in itself due to lock of reliability on its results. Moving forward, it is expected that technological advancements in TCM will probably promote high demand and propel the revenue growth. Moreover, improving infrastructure and increasing health care expenditure in hospitals is also expected to raise the growth of the market with a major growth driver being increasing demand for non-invasive monitoring is the biggest driver of TCM devices.
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