Medical device market in Saudi Arabia has experienced strong growth in the recent years on the back of heavy investment by the government in health infrastructure. Anticipating the future growth, now private firms are also investing substantially in the market. Backed by these investments, the market seems promising and is projected to surge at a CAGR of nearly 6.4% during 2009-2012, says our analytical study “Saudi Arabian Healthcare Market Forecast to 2012”. Increasing prevalence of chronic disease and ageing population are expected to be the major factors responsible for this growth.
According to our research study, import presently accounts for most of the market share, with general equipments like syringes and needles having the strong demand in the current market. The western countries are the main suppliers for medical equipments. The domestic production base for medical equipment and supplies is rather small, and is limited to disposable medical items. The reason behind this import based market is the high cost of production in country.
We have found that the country is also experiencing shortage of medical and clinical staff. More than 70% of nurses and physicians in the country are foreigners. This is also a major reason for high healthcare costs in the country.
We anticipate that medical equipment market will grow well in the future. With the strong growth in healthcare sector, the demand for medical equipments is anticipated to increase. Government’s efforts will also play a major role in improving the standard of healthcare facility in the country.
Our study highlights the key segments of the industry and states that several steps need to be taken by the government to reduce the cost of manufacturing medical equipments. Moreover, it thoroughly studies all the crucial factors fuelling the growth of Saudi Arabia’s healthcare market. The report also presents rational analysis as well as forecast on various industry segments.
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RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
