The Saudi Arabia Medical Devices Market is witnessing robust growth, driven by increasing healthcare investments, a growing aging population, and a rising awareness of the importance of medical equipment and biomedical devices. The Kingdom's commitment to enhancing its healthcare infrastructure has created a favorable environment for the expansion of the medical devices sector.
The Saudi Arabia Medical Devices Market is anticipated to reach USD 3.3 Billion by 2032 at 5.9% CAGR during the forecast period 2023-2032
Medical equipment and biomedical devices play a pivotal role in diagnosing, monitoring, and treating various medical conditions, and Saudi Arabia recognizes the significance of staying technologically updated in this field. The market is experiencing a surge in demand for advanced medical equipment, such as diagnostic imaging devices, patient monitoring systems, and surgical instruments.
The medical equipment segment in Saudi Arabia is flourishing, with a focus on integrating cutting-edge technologies. The adoption of state-of-the-art diagnostic imaging equipment, including MRI and CT scanners, has significantly improved diagnostic accuracy and patient care. Biomedical devices, which encompass a wide range of products like prosthetics, orthopedic implants, and cardiovascular devices, are also gaining traction, addressing the increasing healthcare needs of the population.
Government initiatives, such as Saudi Vision 2030, emphasize the development of the healthcare sector, fostering innovation and investment in medical technology. This has attracted both local and international players to contribute to the Saudi Arabia Medical Devices Market.
Major Key Players:
The Saudi Arabia Medical Devices Companies are: Johnson & Johnson, General Electric, Medtronic, 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 and others.
Market Segmentation
Saudi Arabia medical devices market analysis 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, electromedical devices 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 hospitals, ambulatory, home and others.
Regional Analysis
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.
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