SAUDI ARABIA MEDICAL DEVICE MARKET

Saudi Arabia Medical Device Market Overview

Medical Device refers to an instrument, apparatus, equipment, implement, machine, implant, or appliance, intended by the manufacturer to be used for human beings, for medical purpose such as diagnosis, monitoring, treatment, prevention, or alleviation of disease. Medical devices play a major role in the diagnostic and treatment procedure of any diseases. The medical devices offer remarkable benefits such as supports remote monitoring of chronic diseases, improves patient safety while enhancing patient and clinician experience.

Major Saudi Arabia Medical Device Market Drivers

Major factors driving the Saudi Arabia medical device market are rising prevalence of chronic diseases, popularity of mobile platforms and Artificial Intelligence (AI), the increasing public and private sector investment in healthcare sector and growing geriatric population in Saudi Arabia. Prevalence rate of chronic diseases like diabetes, obesity and hypertension have increased significantly in Saudi Arabia in recent years. As per International Journal of Integrated Care’s (IJIC) report, chronic diseases contributed to around 60% of the premature deaths in Saudi Arabia were in 2016 and this figure projected to increase to 73% in 2020. Since, above mentioned chronic diseases requires continuous monitoring and management and prevalence of such diseases are increasing, demand for medical devices is projected to rise in the Saudi Arabia in coming years.

Government’s vision 2030 and National Transformation Program (NTP) focuses on healthcare development across Saudi Arabia, thereby driving the demand of the medical devices over the coming years. In addition to this, the government is heavily investing towards the construction of hospitals to build strong healthcare sector in Saudi Arabia. For instance, in 2019, the Ministry of Health (MoH) planned to construct 35 hospitals all over the country. The emergence of 3D imaging for orthopaedic treatments, widening applications, and growing awareness about the usage of medical devices for treatment and screening diseases coupled with rising patient pool, are propelling the Saudi Arabia medical devices market. However, high cost of the medical devices and increasing sophistication towards the usage of these devices will hamper the growth of the Saudi Arabia Medical Device market over the coming years.

According to Saudi Arabia medical devices market analysis, diagnostics devices segment is expected to grow at a higher CAGR during the forecast period owing to the increasing demand for diagnostics devices to detect diseases and other conditions such as diabetes and cardiovascular disease. It is used to monitor the overall health of the patient in order to prescribe an appropriate treatment plan.

As per Saudi Arabia medical devices market outlook, general surgery segment is expected to grow at a higher CAGR during the forecast period owing to the increasing number of surgical procedures such as minimal invasive surgery, coupled with technological advancements in the healthcare sector. Various types of medical devices such as diagnostics devices and surgical devices are used for general surgery.

End-User – Segment Analysis

Based on the End-User, the Hospital & Ambulatory Surgical Center segment is expected to grow at a higher CAGR during the forecast period due to the increasing aged population along with growing cardiovascular and diabetics patient in Saudi Arabia. In addition to this, the rising government expenditure on the healthcare sector by focusing towards the construction of new hospitals and increasing privatization, which is the primary focus of Saudi Vision 2030 and the NTP, will further surge the demand for Saudi Arabia Medical Device market over the coming years.

Top Market Players

Various notable players operating in the Saudi Arabia Medical Device market include General Electric Saudi Arabia, Johnson & Johnson Medical Saudi Arabia Limited, Medtronic, Baxter Company Limited (BCL), Philips Healthcare Saudi Arabia, Fresenius Medical Care Saudi Arabia Limited, Al-Salehiya Medical Establishment, Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Al Faisaliah Medical Systems (FMS), Al Amin Medical Instruments Company (AMICO), Siemens Healthineers Saudi Arabia, among others.

Segments covered in the Report:

The Saudi Arabia Medical Device has been segmented on the basis of Type of Device and End-User. Based on the Type of Device, the market is segmented into Cardiology Devices, Respiratory Devices, Orthopedic Devices, Endoscopy Devices, Diagnostic Imaging Devices (Radiology Devices), Ophthalmology Devices, Other Devices. Based on the end-user, the market is segmented into Clinics, Hospital & Ambulatory Surgical Center and Others.

Key Developments:

• • In February 2018, GE Healthcare, global medical technology company based out of UUnoted States announced that it has entered into an agreement with Tatweer Medical Co. to develop an advanced diagnostic facility within the Medical Village project in Riyadh. The Medical Village will host various focused hospitals and 33 stand-alone medical centers, as well as the Diagnostic Radiology Center.
  • Johnson & Johnson Medical Devices Companies (JJMD) launched Johnson & Johnson Medical Saudi Arabia Limited. It is a Saudi-registered legal unit leading from a joint venture between Johnson & Johnson Middle East FZ-LLC, Abdulrehman Algosaibi, and Farouk Maamoun Tamer & Co. The company is focussing on building healthcare solutions in the country.

Market Segmentation

Saudi Arabia Medical Device Market by Type of Device

• • Respiratory Devices
  • Cardiology Devices
  • Orthopedic Devices
  • Diagnostic Imaging Devices (Radiology Devices)
  • Endoscopy Devices
  • Ophthalmology Devices
  • Other Devices

Saudi Arabia Medical Device Market by End-User

• • Hospital & Ambulatory Surgical Center
  • Clinics
  • Others

Leading market players (Option: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • General Electric Saudi Arabia
  • Johnson & Johnson Medical Saudi Arabia Limited
  • Medtronic
  • Baxter Company Limited (BCL)
  • Philips Healthcare Saudi Arabia
  • Fresenius Medical Care Saudi Arabia Limited
  • Al-Salehiya Medical Estableshment
  • Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO)
  • Al Faisaliah Medical Systems (FMS)
  • Al Amin Medical Instruments Company (AMICO)
  • Siemens Healthineers Saudi Arabia