Saudi Arabia Diagnostic Imaging Market - 2023-2030

Saudi Arabia Diagnostic Imaging Market - 2023-2030

Saudi Arabia Diagnostic Imaging Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing with a CAGR of XX % during the forecast period 2023-2030.

Medical imaging and diagnostics are essential components of modern healthcare, playing a crucial role in the identification, visualization, and evaluation of various medical conditions within the human body. These techniques aid healthcare professionals in making accurate diagnoses, planning treatments, and monitoring the progress of diseases.

Saudi Arabia has been investing significantly in its healthcare infrastructure. The government's focus on improving healthcare services and facilities could lead to an increased demand for medical imaging and diagnostic services. For instance, Saudi Arabia is dedicated to making significant investments in the health technology industry.

The government's commitment to healthcare innovation project is shown in the budget allocation of nearly SR180 billion (US$50.3 billion) for healthcare and social development in 2023. A large portion of this funding will go towards digital health initiatives that will improve the healthcare system's accessibility, effectiveness, and openness. Higher healthcare spending can contribute to the adoption of advanced medical imaging technologies and diagnostic devices.

Market Dynamics: Drivers and Restraints

The adoption of AI in diagnostic imaging

The successful adoption of AI in diagnostic imaging in Saudi Arabia will likely depend on a combination of technological advancements, supportive policies, and a commitment to ongoing education and training within the healthcare system. The adoption of AI in imaging accelerates the market growth.

For instance, in June 2023, Lunit, a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, continues its rapid expansion across the Middle East with a new supply contract. Lunit will supply its AI solution for mammography analysis, Lunit INSIGHT MMG. The agreement between Lunit and Cloud Solutions is set to deliver high-quality medical services to patients across the Kingdom, addressing pressing challenges such as doctor shortages or medically underserved populations. Furthermore, this partnership will contribute to the Kingdom's national cancer screening program, building on the success and impact of Lunit's collaboration with Seha Virtual Hospital.

Additionally, on November 09, 2023, the introduction of the AI tool for the first time to the Kingdom of Saudi Arabia comes through the partnership between the Jameel Clinic and KFSH&RC. Through this collaboration the Jameel Clinic and KFSH&RC aim to deploy AI-enabled health technologies to help save lives and to revolutionise the landscape of healthcare in the kingdom, especially in breast cancer care, whose chances of treatment can double with early detection. Thus above factors helps to boost the market growth.

Market Dynamics: Restraint

The workforce shortages in the country

Workforce shortages in the field of medical imaging can significantly restrain the growth and effectiveness of the Saudi Arabia diagnostic imaging market. Insufficient numbers of radiologists and imaging technologists can lead to delays in interpreting medical images. This delay may affect the timeliness of diagnoses and subsequent patient treatment.

For instance, VISION 2030, Saudi Arabia needs to hire extra doctors, nurses, and other healthcare professionals to address shortages and satisfy the demands of its expanding population. Along with this big infrastructure on the floor, like the NEOM PROJECT, government officials categorized KSA into 6 clusters in this project.

The Saudi government estimated that, that 175,000 doctors, 64,000 additional nurses, and 42,000 additional allied health professionals are in demand in KSA. Other categories supporting the healthcare operation and management support team include caregivers, diagnostics, rehabilitation, technical challenges, and other care sector professionals. Thus shortage of workforce restrain the market growth.

Market Trends

The healthcare industry has always been dynamic, constantly changing to meet the demands of patients and the demands of the period. Diagnostic imaging, a field experiencing a revolutionary combination of innovation and care, is crucial to this transformation. Improvements in CT, PET, and MRI technologies are opening doors for more accurate diagnosis. These developments speed up and improve the accuracy of diagnosing medical problems by producing high-definition images in a shorter amount of time.

Innovation continues with the introduction of combined modalities, such as PET-MRI and PET-CT. The Saudi German Hospital - Jeddah, provides the advance Positron tomography is a hybrid imaging test that incorporates Computed Tomography CT and Positron Emission Tomography PET where the two examinations are combined to obtain a more comprehensive and accurate visualization.

Segment Analysis

The Saudi Arabia diagnostic imaging market is segmented based on product, application and end-user.

The MRI from the Product segment accounted for approximately 31.2% of the Saudi Arabia diagnostic imaging market share

Magnetic resonance imaging (MRI) is a highly effective diagnostic tool for identifying conditions associated with spinal lesions, tumors, as well as strokes affecting blood vessels and the brain. The increasing prevalence of these diseases is expected to play an important role in the segment growth.

For instance, according to National Institute of Health, estimated that the prevalence of hypertension and coronary heart disease is around 25% and 6%, respectively. Additionally, according to the WHO, estimated that 27,500 new cancer cases were diagnosed during the year 2020, which has increased the demand for diagnostic imaging to prevent and reduce cancer cases.

Furthermore, the rise of government initatives also helps to boost the segment growth. For instance, in September 2023, radiologists in Yemen are to be trained in the use of MRI scanners as part of Saudi Arabia’s development and reconstruction program for the country. The training will provide medical doctors at Marib General Hospital with the skills to operate the hi-tech equipment. Thus above factors helps to boost the segment growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has negatively impacted the Saudi Arabian diagnostic imaging systems market. The viral outbreak has wreaked havoc on the nation's medical sector. The non-emergency MRI scans have stopped because medical professionals were more concerned with treating COVID-19 patients, which ultimately had an impact on the market's total growth.

Only CT scans and X-rays were in considerable demand in the diagnostic segment to evaluate lung health. The majority of medical device investments and advances were delayed by the makers. Nonetheless, the region's growing rates of cardiovascular illness and cancer are predicted to fuel a market boom in the upcoming years.

Market Segmentation

By Product
• Computed Tomography
• Ultrasound System
• MRI
• Nuclear Imaging
• X-Ray
• PET
• Bone densitometers
• Others

By Application
• Cardiology
• Orthopedics
• Gastroenterology
• Gynecology
• Oncology
• Neurology
• Others

By End-User
• Diagnostic Centers
• Hospitals
• Specialty Clinics
• Others

Competitive Landscape

The major country players in the market include GE HealthCare, Fujifilm Holdings Corporation, Koninklijke Philips NV, Canon Medical Systems Corporation, Medtronic Inc, Agfa-Gevaert Group, Siemens Healthineers, Stryker Corporation, Mindray Medical International Limited, Shimadzu Corporation and among others.

Key Developments
• In October 2020, Siemens Healthineers had signed a Value agreement with Elaj Group to provide diagnostic imaging services in Saudi Arabia. The agreement includes an innovative business model and during which, Siemens Healthineers will be the exclusive technology partner to Al Borg labs equipping it with radiology systems as well as providing a full range of services.
• On July 26, 2022, Unilabs, had signed a joint venture agreement in the KSA. Owned 51% by Unilabs – 49% by Tibbiyah, the new entity registered as Saudi European Diagnostics Company (“SEDC”) will provide diagnostic imaging services to hospitals, medical centres, and clinics. It will also invest, operate, manage, and maintain departments or divisions of hospitals, medical centers, and clinics specializing in diagnostic imaging services in the public and private sectors.
• In January 2022, Philips, had partnered with GAD International Co (GAD) to transform healthcare services by delivering state of the art technologies and innovation to hospitals operated by AMI Healthcare Inc (AMI). This partnership will provide elite cardiology services by deploying an advanced Cathlab that delivers outstanding interventional cardiac and vascular performance on the Azurion 7, paired with consistently high-quality and fast results made possible by the adaptive intelligence of Incisive CT.

Why Purchase the Report?
• To visualize the Saudi Arabia diagnostic imaging market segmentation based on product, application and end-user as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of diagnostic imaging market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Saudi Arabia diagnostic imaging market report would provide approximately 69 tables, 58 figures and 187 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies