Saudi Arabia Medical Devices Market at 9.5% CAGR with Major Manufacturers Like Johnson & Johnson, General Electric, Medtronic, Baxter International Etc. During 2019-2023

The Saudi Arabia Medical Devices Market is to reach the value of approximately USD 3870 million, outperforming its own achievement of USD 2250 million in 2017, forecasts Market Research Future (MRFR). The market is exhibited to register a CAGR of 9.5% during the forecast period (2017-2023). A medical device is an instrument that includes any software, biologic or non-biologic compatible material, which is used for the diagnostic or therapeutic use for management of diseases and disorders.

Saudi Arabia Medical Devices Market – Predominant Players

The major participants of this market are: Johnson & Johnson, General Electric, Medtronic, Koninklijke Philips Electronics NV., Baxter International, 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.

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

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Saudi Arabia Medical Devices Market – Highlights

Medical Devices are the instruments or appliances including software and biologic or non-biologic compatible materials, to be used for diagnosis and therapies during the management of diseases and disorders. The medical device is one of the fastest growing segments of healthcare industry mainly driven by innovations and new technologies. The sector, witnessing a fabulous growth and emergence of state-of-the-art medical devices has completely revolutionized the perception of healthcare.

Combining information technology and healthcare successfully, the medical devices industry has catalyzed the growth in both sectors. Over the past few years, the Middle East region or rather the GCC Countries have become extremely responsive towards the healthcare. The region registers high per capita healthcare expenditures, after the developed nations such as America and UK.

Industry/Innovation/Related News:

August 2018 – The Saudi Food and Drug Administration (SFDA) has published an update to its clearance policy for medical device shipments to the country. The requirements entail that the total shelf life of a device should be more than one year. The policy also includes that the device must have at least four months of its shelf life remaining at the port of entry. These revisions help facilitate the launch of a new market pathway for Class I non-sterile medical devices through the Saudi Medical Device National Registry (MDNR).

June 2018 An international research team led by the King Abdullah University of Science and Technology (KAUST), Saudi Arabia, and University of Cambridge, UK, and has made a plastic sensor to deliver a low-cost option for the monitoring of many health conditions, comprising of neurodegenerative disorders. The sensor, which can also be used for diagnostic purposes, has been intended to measure the levels of certain metabolites such as lactate or glucose found in tears, sweat, saliva, and blood. Additionally, the sensor can be embedded into a diagnostic device to enable the accurate and rapid monitoring of patients.

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.

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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.

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