Saudi Arabia Medical Devices Market - 2023-2030

Saudi Arabia Medical Devices Market - 2023-2030

Saudi Arabia Medical Devices Market reached US$ XX billion in 2022 and is expected to reach US$ XX million by 2030 growing at a CAGR of XX% during the forecast period 2023-2030.

A medical device refers to any instrument, apparatus, implement, machine, appliance, implant, reagent for in vitro use, software, and material. These devices play a crucial role in healthcare, contributing to patient care, research, and the overall advancement of medical science.

Medical devices can vary widely in complexity and purpose, ranging from simple tools like thermometers and blood pressure monitors to sophisticated equipment such as MRI machines and robotic surgical systems.

Market Dynamics

Increasing prevalence of chronic diseases

The increasing prevalence of chronic diseases acts as a significant driver for market growth. Chronic diseases, such as cardiovascular diseases, diabetes, obesity, and respiratory conditions have been increasing in Saudi Arabia. Some factors contributing to the increasing prevalence of chronic diseases in the country include changes in lifestyle, urbanization, sedentary behavior, and dietary habits.

For instance, according to the National Institute of Health Report, 201,300 Saudi citizens had cardiovascular disease (CVD), comprising 51,700 individuals with cerebrovascular disease and 149,600 adults with ischemic heart disease. It is believed that more than 45% of deaths are related to CVD in Saudi Arabia.

Additionally, the prevalence of physicians-diagnosed asthma was 11.3% and the prevalence of currently taking any medicine for asthma was 10.6%. in Saudi Arabia. Furthermore, significant growth drivers such as the rising prevalence of pigmentation disorders, and technological advancements in treatment devices are expected to drive the market in the forecast period.

High import duties and taxes

High import duties and taxes for medical devices in Saudi Arabia can contribute to increased healthcare provider costs and impact the accessibility and affordability of medical technologies. Saudi government faced budgetary constraints and seek to generate revenue through import duties to address challenges. Thus, the above factors can hamper the market growth.

Segment Analysis

The Saudi Arabia medical devices market is segmented based on type, application and end user.

The respiratory devices segment accounted for approximately 43.2% of the market share

The respiratory devices segment is expected to hold the largest market share over the period forecast due to the increasing number of product approvals and agreements. Respiratory devices play a crucial role in various medical conditions, including chronic respiratory diseases, acute respiratory distress, and conditions affecting the respiratory system.

For instance, in February 2022, Starpharma signed an exclusive sales and distribution agreement for VIRALEZE antiviral nasal spray in Saudi Arabia and eight other countries including the GCC region.

Additionally, in July 2020, Sedana Medical AB received market approval in Saudi Arabia and the company has signed distribution agreements for sales in the Middle East with Techno Orbits in Saudi Arabia. Hence, due to the above factors, the segment is expected to hold the largest market share.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the Saudi medical device market. The onset of the pandemic in early 2020 led to widespread lockdowns and restrictions, impacting regular diagnoses, treatment, device launches, and consultations worldwide. With the outbreak of the pandemic, many pharmaceutical or medical device manufacturing units faced labor shortages and were unable to travel to work due to lockdown restrictions. Therefore, owing to the above factors, the medical devices market is expected to be moderately affected over the forecast period.

Market Segmentation

By Type
• Respiratory Devices
• Cardiology Devices
• Orthopedic Devices
• Diagnostic Imaging Devices
• Endoscopy Devices
• Dental Devices
• Opthalmology Device
• Others

By Application
• Cardiology
• Orthopedics
• Urology
• Nephrology
• Dental
• Others

By End User
• Hospital
• Ambulatory Surgical Centers
• Specialty Clinics
• Others

Competitive Landscape

The major Saudi Arabia players in the market include Somatco, AFAMED, ADAM: Al-Dawleiah Alasasya Medical Co., Salehiya, Aljeel, Al Shifa Medical Products Co, Jamjoom Medical Industries, Anaya Orthopedic Industries, MEDTRONIC SAUDI ARABIA LLC., ELAFMed Ltd. among others.

Key Developments
• In November 2022, King Salman Humanitarian Aid and Relief Centre (KSRelief) in Saudi Arabia introduced a volunteer medical program in Bamako, Mali, that focuses on open-heart surgery and catheterization for kids.

Why Purchase the Report?
• To visualize the Saudi Arabia medical devices market segmentation based on type, application, end user, and region, 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 Saudi Arabia medical device 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 medical devices market report would provide approximately 58 tables, 58 figures, and 185 Pages.

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