Saudi Arabia Medical Devices Market Assessment & Industry Forecast to Explore Ample Growth Opportunities Prophesy 2023
Market Research Future (MRFR) in its recently published study report asserts that the already booming Market of Saudi Arabia Medical Devices to analyze based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
Pune, India – July 31, 2018 /MarketersMedia/ —
A Medical Device is any instrument, appliance including any software, biologic or non-biologic material, to be used for the diagnostic or therapeutic use for management of diseases and disorders.
The developments in the region along with the country’s vision to enhance its offering in terms of the medical sector is boosting the demand for medical devices in the nation. Market focused reports linked with the healthcare industry among others recently have been made available by Market Research Future which issues reports on this industry. The market is anticipated to achieve $ 3870 million in revenues by the end of the forecast period while growing at a CAGR of 9.5 percent approximately in the forecast period.
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Product developments and increased investment levels are powering the growth of the market considerably in the forecast period. Development of stronger and biocompatible materials is also significantly altering the growth of the market in the past few years. The progress of the diagnostic imaging sector is also observed to be motivating the market for medical devices in the upcoming forecast period.
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 Saudi Arabia, the interference Sharia courts etc.
The future developments will include cloud integration, connected healthcare devices and growing demand for personalized medical wearable devices. Healthcare mobile applications will also lead the market.
Saudi Arabia Medical Devices Market – Predominant Players
The major participants of this market are: 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.
Industry/Innovation/Related News:
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.
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
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.
Major Table of Content
1 Introduction
1.1 Definition
1.2 Scope of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
3.5 Macroeconomic Indicators
4 Market Factor Analysis
….Continued
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Source: MarketersMedia
Release ID: 387022
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