MedicalDevice refers to an instrument, apparatus, equipment, implement,machine, implant, or appliance, intended by the manufacturer to be used forhuman beings, for medical purpose such as diagnosis, monitoring, treatment,prevention, or alleviation of disease. Medical devices play a major role in thediagnostic and treatment procedure of any diseases. The medical devices offerremarkable benefits such as supports remote monitoring of chronic diseases,improves patient safety while enhancing patient and clinician experience.
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The major factors driving the growth of the Saudi Arabia Medical Device market during the forecast period includesthe growing innovation in medical device technologies, the increasing publicand private sector investment in healthcare sector and the rising geriatricpopulation in Saudi Arabia. The government’s vision 2030 and NationalTransformation Program (NTP) focuses on healthcare development across SaudiArabia, thereby driving the demand of the medical devices over the comingyears. In addition to this, the government is heavily investing towards theconstruction of hospitals to build strong healthcare sector in Saudi Arabia.For instance, in 2019, the Ministry of Health (MoH) planned to construct 35hospitals all over the country. The emergence of 3D imaging for orthopedictreatments, widening applications, and growing awareness about the usage ofmedical devices for treatment and screening diseases coupled with risingpatient pool, will further complement the growth of the market in this region.On the other hand, the high cost of the medical devices and increasingsophistication towards the usage of these devices will hamper the growth of theSaudi Arabia Medical Device market over the coming years.
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Various notable players operating in the Saudi Arabia Medical Devicemarket include General Electric Saudi Arabia, Johnson & Johnson MedicalSaudi Arabia Limited, Medtronic, Baxter Company Limited (BCL), PhilipsHealthcare Saudi Arabia, Fresenius Medical Care Saudi Arabia Limited,Al-Salehiya Medical Establishment, Saudi Pharmaceutical Industries &Medical Appliances Corporation (SPIMACO), Al Faisaliah Medical Systems (FMS),Al Amin Medical Instruments Company (AMICO), Siemens Healthineers Saudi Arabia,among others.
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The Saudi Arabia Medical Device market has been segmented based onproduct type, therapeutic application, and end-user. Based on the type, themarket is segmented Monitoring Devices, Diagnostic Devices, Diagnostic,Molecular Devices, Drug Delivery Devices, Surgical Devices, Bio implants, andStimulation Devices, Automation and Robotics and Others. Based on theTherapeutic Application, the market is segmented into General Surgery,Diagnostic Imaging, Respiratory, Orthopaedics, Cardiovascular, Dental,Neurology, Ophthalmology, Ear-Nose-Throat (ENT), Nephrology and Urology, andOthers. Based on the end-user channel, the market is segmented into Hospital& Ambulatory Surgical Center, Clinics, and Others.
Key questions answered in this research report:
· At what pace is the Saudi Arabia Medical Device market growing? Whatwill be the trend in growth in the future?
· What are the key drivers and restraints in the Saudi Arabia MedicalDevice market? What will be the impact of drivers and restraints in the future?
· What are the various types of product in the Saudi Arabia Medical Devicemarket, and how are they poised to grow?
· What companies are the major participants in this market and theirbusiness strategies, how does the competitive landscape look like?
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