Saudi Arabia Medical Device Market The Saudi
Saudi Arabia Medical Device Market
The Saudi Arabia Medical Device Market is expected to expand at a robust CAGR over the forecast period (2019-2026).
The factors driving the growth of Saudi Arabia Medical Device Market includes increasing number of chronic diseases such as Diabetes, obesity and cardiovascular diseases and increasing application of medical devices in screening and testing patients. According to the report published by World Health Organization (WHO), Saudi Arabia ranks in 7th in the world for the rates of diabetes, around 7 million people in Saudi Arabia are prone to diabetes, which is expected to boost the Saudi Arabia Medical Device Market size in the coming years. Moreover, the increasing Government’s expenditure on improving the healthcare facilities, rising geriatric population, growing adoption of 3D imaging for orthopedic treatments, are some of the additional factors supplementing the market growth in Saudi Arabia. As per Sovereign Group, the Government of Saudi Arabia is planning to invest USD 66 billion to increase the participation of private sector from 40% to 65%, which is expected to propel the market growth in the approaching years.
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However, the growth of Saudi Arabia Medical Device Market is hindered due to high cost of medical devices and complexities in installation.
The prominent players operating in the market are Al Faisaliah Medical Systems (FMS), Al Amin Medical Instruments Company (AMICO), Siemens Healthineers Saudi Arabia, General Electric Saudi Arabia, Johnson & Johnson Medical Saudi Arabia Limited, Medtronic, Fresenius Medical Care Saudi Arabia Limited, Al-Salehiya Medical Estableshment, Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Baxter Company Limited (BCL) and Philips Healthcare Saudi Arabia among others.
Product Type: Segment Analysis
Based on product type, the diagnostics devices segment is expected to grow at a higher CAGR during the forecast attributed to increasing application of medical devices to diagnose chronic diseases such as diabetes and cardiovascular diseases.
Therapeutic Application: Segment Analysis
Based on therapeutic application, the general surgery segment is predicted to grow at a remarkable CAGR over the forecast period owing to advancements in the healthcare facilities and increasing use of diagnostics devices and surgical devices.
End-User: Segment Analysis
Based on End-User, the Hospital & Ambulatory Surgical Center segment is estimated to capture a sizeable market share during the forecast period. The increasing geriatric population, rise in the number of chronic diseases and rapid expansion of the healthcare sector, are some of the factors responsible for the growth of the segment.
Market Segmentation
Saudi Arabia Medical Device Market by Product Type
- Monitoring Devices
- Diagnostic Devices
- Diagnostic
- Molecular Devices
- Drug Delivery Devices
- Surgical Devices
- Bio implants and Stimulation Devices
- Automation and Robotics
- Others
Saudi Arabia Medical Device Market by Therapeutic Application
- General Surgery
- Diagnostic Imaging
- Respiratory
- Orthopedics
- Cardiovascular
- Dental
- Neurology
- Ophthalmology
- Ear-Nose-Throat (ENT)
- Nephrology and Urology
- Others
Saudi Arabia Medical Device Market by End-User
- Hospital & Ambulatory Surgical Center
- Clinics
- Others
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