Market Synopsis of Saudi Arabia Medical Devices Market:
Market Scenario:
A medical device is any instrument, appliance including any software, biologic or non-biologic compatible material, to be used for the diagnostic or therapeutic use for management of diseases and disorders. The medical device industry is one of the fastest growing segment of healthcare industry chiefly driven by innovation and new technologies. The sector had witnessed an unprecedented growth and has revolutionized healthcare by the development of state-of-the-art medical devices. The medical devices industry has also resulted in the successful combination of information technology and healthcare and has catalyzed growth in both sectors.

Technology and product development remain the main pillars for the growing market for medical devices. Although there has been application of new knowledge to medical devices but most innovations in medical devices are based on solving engineering problem. Development of stronger and biocompatible materials led the growth of bio-implants segment, while advancements in connectivity and processing power led the growth of diagnostic imaging sector. The other drivers of medical device market are rising cost of healthcare which stimulated development of innovative connected products such as wearable medical devices, falling cost of production and rising manufacturing capacities in electronic industry, demand for early detection and noninvasive therapies etc.

The market constraints are strict and ambiguous regulatory framework, growing concern for security especially data security, differential availability between developed and developing regions, connectivity issues in poor regions of the world etc.

Taking all factors into consideration, we expect the Saudi Arabia medical devices market to reach around $ 3870 million from $ 2250 million in 2017, by the end of the forecast period at a CAGR of ~9.5%.

Key Players for Saudi Arabia Medical Devices Market:
Some of the key players in this market are:

• Johnson & Johnson
• General Electric
•  
• Koninklijke Philips Electronics NV.
• Baxter Internationa
• Fresenius Medical Care AG & Co.
• Cardinal Health
• Al-Salehiya Medical Estableshment
• Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO)
• Al Amin Medical Instruments Company (AMICO)
• Al Faisaliah Medical Systems (FMS)
• Siemens Ltd

Market Segments:
Saudi Arabia medical devices market has been segmented on the basis of product type which comprises monitoring devices, diagnostic devices, diagnostic molecular devices, drug delivery devices, surgical devices, bio implants and stimulation devices, automation and robotics and others. On the basis of therapeutic application; market is segmented into general surgery, diagnostic imaging, respiratory, orthopedics, cardiovascular, dental, neurology, ophthalmology, ear-nose-throat (ENT), nephrology and urology, and others. On the basis of end users; market is segmented into hospitals, ambulatory, home and others.

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Regional Analysis of Saudi Arabia Medical Devices Market:
The healthcare sector of Saudi Arabia is divided between private and state. The public healthcare expenditure accounts for approximately 75% of total health expenditure in 2014. Local manufacturing represents a poor outlook which is limited to consumables and ordinary articles. The government has established some of the best hospitals in the region such as King Faisal specialist hospital and research center, Riyadh military hospital, Saudi Arabia’s National Guard health affairs hospital etc. Saudi Arabia is extremely dependent on imports for medical devices and imports account for approximately 92% of total market for medical devices. U.S. medical device suppliers dominate the scenario with European vendors in the second position. Among the regions of Saudi Arabia Riyadh tops the healthcare expenditure list followed by Tabuk, Makkah and Madina.

Study Objectives Saudi Arabia Medical Devices Market:

• To provide detail analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the Saudi Arabia medical devices market
• To provide insights about factors affecting the market growth
• To analyze the market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments for Saudi Arabia Medical Devices market
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segments by product type, by therapeutic applications, by end users and other sub segments.
• To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments globally.

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Intended Audience:

• Medical Devices Manufacturers
• Medical Devices Suppliers
• Private Research Laboratories
• Research and Development (R&D) Companies
• Market Research and Consulting Service Providers
• Government Research Laboratories
• Contract Manufacturing Organizations

Continue…

We are thankful for the support and assistance from “Saudi Arabia Saudi Arabia Medical Devices Market Research Report - Forecast to 2023” chain related technical experts and marketing experts during Research Team survey and interviews.

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