Saudi Arabia Medical Equipment Market Growth 2022- Industry Demand, Size, Share, Trends, CAGR Status and Forecast Strategy: Ken Research

KSA Medical Devices Market is a highly price sensitive and import dependent market with local production limited to prototype units, disposables such as reusable surgical instruments, detergents and solutions, general IVD and syringes and needles. 40% of the devices manufactured locally are single-use devices made out of plastic.

Currently, KSA Medical Devices Market has an estimated value of ~Bn and is growing annually at approximately ~%. Greater concern for healthcare and increased consumption of healthcare services sustain a strong market for medical equipment. Non-communicable diseases account for 68% of all deaths in Saudi Arabia currently. Almost 18% of adult population has diabetes, and more than 40% are obese. Saudi Arabia will continue to increase its spending to prevent and treat diabetes and lifestyle disorders. With the push for preventive care screening for managing chronic diseases, the number of primary healthcare center visits per capita are expected to double, according to Vision 2030. To promote preventive and integrated care, and to improve access to the health service, the MOH also plans to launch health clusters across KSA. Increasing the number of internationally accredited hospitals, doubling the number of primary healthcare visits per capita from two to four and expanding digital healthcare innovation are all priorities of MoH, leading to a growth in KSA Medical Devices Market.

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Saudi Arabia Respiratory Device Market Key Segmentations

By Procurement: Imports have accounted for ~% of the revenue share in KSA Medical Devices Market in 2021. KSA is an import driven market with advanced medical devices imported from countries such as US, Germany, Japan and China.

By Mode of Sales: Distributor Mediated Sales have accounted for ~% of the revenue in KSA Medical Device Market in 2021. Majority of the international companies hire distributors in KSA for the purposes of monitoring business opportunities and navigating import and standard testing regulations.

By Type of Medical Device: Medical Consumables have accounted for the largest share of ~% of the revenue share in KSA Medical Devices market in 2021, followed by Diagnostic Imaging products with ~% and Cardiac Devices with ~%.

By Type of Medical Consumables: Syringes, needles and catheters, surgical gloves and masks infusion pumps together contributed more than ~% revenue in 2021. Rising prevalence of Hospital Acquired Infections (HAIs) and Covid-19 pandemic encouraged many local manufacturers to enter the market for medical disposables.

By Type of Diagnostic Imaging Products: CT Scans contributed the highest revenue share of ~% in 2021 followed by MRI and X-Ray Based Products. Increasing prevalence of cancer and other chronic diseases and growing ageing population are driving the demand for diagnostic imaging equipment in KSA.

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By Type of Cardiac Device: Implantable Cardioverter- Defibrillator (ICD) and Cardiac Rhythm Management (CRM) have accounted for major share i.e. ~% in the market in 2021. Various specialized clinics focused at treating cardiovascular diseases are becoming prevalent in KSA.

By Type of Respiratory Products: Oxygen Concentrators contributed highest revenue share i.e. ~% in 2021 owing to Covid-19 pandemic. KSA population has high risk of exposures to chronic obstructive pulmonary disease (COPD) and asthma

By Type of Hospital Furniture: Hospital Beds with Mechanical Fittings and Dentists' Chairs contributed ~% in the revenue share in 2021. Increasing incidences of chronic diseases, rise in geriatric population and growing hospital investments are leading to an increasing demand for hospital furniture.

By Type of Auxiliary Products: Hearing Aids have accounted for ~% in the overall revenue. Rising occurrence of hearing loss of geriatric population, increasing initiatives by governments and NGOs to raise consciousness about hearing loss treatments are factors boosting the demand for hearing aid devices in KSA market.

By Type of Dental and Orthopedic Products: Dental Appliances contributed the highest revenue in 2021. The increasing prevalence of oral diseases, an inclination towards the use of minimally invasive procedures and rise in the number of dentists are propelling the growth of the market.

By End Users: Hospitals contributed highest to the market revenue i.e. ~% in KSA Medical Devices Market in 2021. Private sector hospitals majorly focus on treating seasonal illnesses, minor fractures and cosmetic treatments while government hospitals are mostly preferred for the treatment of severe medical conditions, like cancer, internal medicine and ophthalmology.

By Regions: Riyadh contributed highest to the market revenue i.e. ~% in KSA Medical Devices Market in 2021. It has one of the best hospital facilities in Middle East which are at par with international standards. Out of the total hospitals in KSA, majority of them are concentrated in Riyadh followed by Jeddah and Eastern region.

Competitive Scenario in KSA Diagnostic Imaging Market

The competition scenario in KSA medical devices market is moderately fragmented due to the presence of large number of international companies and local distributors leading to dilution of market share. The international companies distribute their products through authorized distributors located across the country. GE, Siemens, Philips, Hill-rom, Straumann, Phonak, Stryker are the major companies operating in the KSA Medical Device market. Gulf Medical, Mediserv, FMS, Al-Jeel Medical and Tamer Group are few top distributors in KSA. The major competitive parameters include product price, technological advancements, product portfolio variability, after support services and marketing activities.

KSA Medical Device Market Future Outlook & Projections

The KSA medical device market is expected to generate ~Bn revenue in 2026, with imports contributing ~% of the market revenues. The creation of a world-class healthcare sector is a top priority for the KSA and the healthcare sector is expected to advance and expand significantly in the next few years which will support the growth of Medical Device Market in the country. Changes in population composition will drive future healthcare requirements and will create demand for a number of specialisms; pediatrics, lifestyle diseases, long-term care, rehabilitation, home care, and rejuvenation services. Government is planning to invest in private sector integration to create effective strategic partnerships in the pursuit of national health objectives and promotion of fair and comprehensive geographical coverage across all regions of the Kingdom.

Key Topics Covered in the Report

Executive Summary
Saudi Arabia Orthopedic Devices Industry
Overview of KSA Healthcare System
KSA Medical Device Market Introduction and Overview
Industry Life Cycle and Value Chain of KSA Medical Device Market
Key Market Drivers in the KSA Medical Device Market
Demand & Supply Side Ecosystem, Preferences & Trends across KSA Medical Device Market
KSA Medical Device Market Size by Revenue
KSA Medical Device Market by Type of Devices and Sub Segments
KSA Medical Device Market by End Users
KSA Medical Device Market by Regions (Riyadh, Jeddah, Dammam and Al Khobar, Al Qassim and Aseer and Others)
Competitive Factors and Assessment in KSA Medical Device Market
Market Trends and Developments
Market Issues and Challenges
Government Rules and Regulations
KSA Medical Device Market Future Outlook
Upcoming Technologies in the Medical Device Market
Analyst Recommendations

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