Saudi Arabia Medical Devices Market Size Demonstrate to Progress at Double Digit CAGR Expected by 2023 Exclusively Available at MarketResearchFuture.com

Saudi Arabia Medical Devices Market
Market Research Future (MRFR) in its recently published study report asserts that the already booming Market of Saudi Arabia Medical Devices is expected to gain prominence over the forecast period. The market is forecasted to reach high by Revenue by the end of 2023, growing at a CAGR of ~9.5% during 2018-2023.

Saudi Arabia Medical Devices Market – Predominant Players

The major participants of this market 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.

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Saudi Arabia Medical Devices Market – Competitive Analysis

Focusing on optimized situational awareness for customers, players operating in the Saudi Arabia Medical Devices market ensure their mission success. Due to the presence of the considerable number of players having an international presence, the Market appears to be highly competitive and diversified. These players invest heavily in R&D, to gain the competitive edge and to sustain in the market.

The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition, and expansion. Players compete against each other based on the product reliability, quality, cost, and aftermarket services.  They tap the growing markets for expansions. Matured players strive to develop a product with adept technology and unrivalled design and features. 

Industry/Innovation/Related News:

May 16, 2018 – Informa Life Sciences Exhibitions (UK), a global organization, in charge of the healthcare portfolio and Global Exhibitions division, announced the Global Health Exhibition to be held from 10-12 September 2018 at the Riyadh International Convention and Exhibition Center, Saudi Arabia. One of the objectives of the exhibition is to avail Saudi Arabia’s leading healthcare platform to the global market to meet and network with Saudi healthcare sector’s pioneers and officials. More than 10,000 industry professionals across the globe are expected to explore the opportunities, along with the more than 500 Saudi-based and international exhibiting companies showcasing the latest advances in health services, pharmaceuticals, training and education, and medical device technologies.

Saudi Arabia Medical Devices Market – Segmentation

MRFR has segmented into 4 key dynamics for the convenience of the report and enhanced understanding;

By Product Types: Comprises Diagnostic Devices, Monitoring Devices, Diagnostic Molecular Devices, Surgical Devices, Drug Delivery Devices, Bio Implants and Stimulation Devices, Automation and Robotics among others.

By Therapeutic Applications: Diagnostic Imaging, General Surgery, Respiratory, Cardiovascular, Orthopaedics, Dental, Neurology, Ear-Nose-Throat (ENT), Ophthalmology, Nephrology and Urology, among others.

By End-Users: Ambulatory, Home and Hospitals among others.

By Regions: Geographical regions & Continents of Saudi Arabia

Saudi Arabia Medical Devices Market – Highlights

The Medical Device Market witnessed one of the fastest growth propelled by innovation and rapid uptake of technologies. The Medical Devices Market has also resulted in the successful fusion of information technology and healthcare. A medical device is any instrument, appliance including any software, biologic or non-biologic material, to be used for the diagnostic or therapeutic use for management of diseases and disorders.

Technology and product development remain the main pillars for the growing market for medical devices. The market involves two segments one high-tech devices with extreme sophistication and another is the low tech improved devices. The high tech segment such as diagnostic imaging devices is witnessing higher rates of growth. The low tech segment is also growing at a good rate but has witnessed growth in developing regions as the market for these in developed regions is stagnant. The other market driving factors are rising public healthcare expenditure in Saudi Arabia, development of large hospitals such as King Faisal hospital in Riyadh, demand for noninvasive therapy etc.

The future developments will include cloud integration, connected healthcare devices and growing demand for personalized medical wearable devices. Healthcare mobile applications will also lead the market.

Saudi Arabia Medical Devices Market – 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. 

Major Table of Content

1 Introduction

1.1 Definition

1.2 Scope of Study

1.3 Research Objective

1.4 Assumptions & Limitations

1.5 Market Structure:

2 Research Methodology

2.1 Research Process

2.2 Primary Research

2.3 Secondary Research

3 Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

3.5 Macroeconomic Indicators

4 Market Factor Analysis

….Continued

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