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.
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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