Executive Summary:
The Saudi Arabia Medical Devices Market research report explores the Top Key Players in-depth analysis as: 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 Research Future published new report, titled “Saudi Arabia Medical Devices Market -Research Report: Forecast till 2023”.
Market Synopsis of Saudi Arabia Medical Devices Market:
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%.
Market Segments:
The Saudi Arabia Medical Devices Industry research report 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:
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.
The report for Saudi Arabia Medical Devices Industry of Market Research Future comprises extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insights of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table of Contents
1 Introduction
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Saudi Arabia Medical Devices Market, By Product Type
6 Saudi Arabia Medical Devices Market, By Therapeutic Application
7 Saudi Arabia Medical Devices Market, By End User
8 Saudi Arabia Medical Devices Market, By Country
9 Competitive Landscape
10 Company Profile
11 Appendix
…CONTINUED
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