Michael Barbella, Managing Editor11.11.22
Slow but steady.
Such was the growth for the Saudi Arabian medical devices market over the past six years, according to Ken Research Pvt. Ltd. The research firm reported annual single-digit expansion through 2021, noting the market is highly price-sensitive and reles heavily on foreign imports due to its underdeveloped domestic medical device industry.
Saudi Arabia’s Vision 2030 focused on improving the experience of Pilgrims and achieving the annual target of 30 million Pilgrims by 2030 mandates provision of agile healthcare settings and services. The increasing medical tourist flow will drive the demand for quality healthcare services, medical devices and technology, according to Ken Research.
Saudi Arabia is an import-dependent market with devices imported from countries such as the United States, Germany, Japan, and China. Forty oercebt of locally manufactured devices are single-use devices are made out of plastic while other products are reusable surgical instruments, detergents and solutions, general IVD, hospital furniture, dental and ophthalmic products. The lower share of domestic production is majorly due to lack of capabilities and fewer numbers of local manufacturing companies in Saudi Arabia.
The country accounts for 60% of the Gulf Cooperation Council (GCC) countries’ healthcare expenditure, and the sector remains a top priority for the Saudi Arabian government. Officials are planning to spend $36.8 billion on healthcare and social development, which is 14.4% of its 2022 budget—the third largest line item after education and military.
High population growth (1.51% from 2020 to 2021) and increase in non-communicable diseases is driving the demand for better healthcare services and medical devices in Saudi Arabia. The government’s constant push for preventive care screening to manage chronic diseases is paving the growth of medical device market.
The United Arab Emirates is the fourth largest medical device market in the Middle East and Africa region, growing 8.7% annually from 2015 to 2020. Like Saudi Arabia, UAE is a highly price-sensitive and import-dependent market with advanced medical devices imported from countries such as the United States, Germany, Japan and China and local production limited to prototype units, spare parts and disposables such as surgical gloves, syringes, and needles. UAE’s increasing budget allocation for the healthcare sector and ongoing healthcare development projects has played a pivotal role in the continued growth.
Kuwait medical device market is in its late growth stage (based on distributor model) and has a limited number of large players dominating the market. The medical devices market in Kuwait is completely import driven dominated by international brands. The medical devices market in Kuwait has witnessed growth owing to the increased participation of private players in healthcare sector. Technological innovations and increased focus on infrastructure development has also resulted in increased demand of medical devices in Kuwait. Heavy investments in infrastructure projects are driving the growth in Kuwait. Increase in number of chronic diseases has resulted in increase in demand of healthcare facilities in the country. The end users of medical devices are government as well as private sector hospitals, clinics and primary care centers.
Such was the growth for the Saudi Arabian medical devices market over the past six years, according to Ken Research Pvt. Ltd. The research firm reported annual single-digit expansion through 2021, noting the market is highly price-sensitive and reles heavily on foreign imports due to its underdeveloped domestic medical device industry.
Saudi Arabia’s Vision 2030 focused on improving the experience of Pilgrims and achieving the annual target of 30 million Pilgrims by 2030 mandates provision of agile healthcare settings and services. The increasing medical tourist flow will drive the demand for quality healthcare services, medical devices and technology, according to Ken Research.
Saudi Arabia is an import-dependent market with devices imported from countries such as the United States, Germany, Japan, and China. Forty oercebt of locally manufactured devices are single-use devices are made out of plastic while other products are reusable surgical instruments, detergents and solutions, general IVD, hospital furniture, dental and ophthalmic products. The lower share of domestic production is majorly due to lack of capabilities and fewer numbers of local manufacturing companies in Saudi Arabia.
The country accounts for 60% of the Gulf Cooperation Council (GCC) countries’ healthcare expenditure, and the sector remains a top priority for the Saudi Arabian government. Officials are planning to spend $36.8 billion on healthcare and social development, which is 14.4% of its 2022 budget—the third largest line item after education and military.
High population growth (1.51% from 2020 to 2021) and increase in non-communicable diseases is driving the demand for better healthcare services and medical devices in Saudi Arabia. The government’s constant push for preventive care screening to manage chronic diseases is paving the growth of medical device market.
The United Arab Emirates is the fourth largest medical device market in the Middle East and Africa region, growing 8.7% annually from 2015 to 2020. Like Saudi Arabia, UAE is a highly price-sensitive and import-dependent market with advanced medical devices imported from countries such as the United States, Germany, Japan and China and local production limited to prototype units, spare parts and disposables such as surgical gloves, syringes, and needles. UAE’s increasing budget allocation for the healthcare sector and ongoing healthcare development projects has played a pivotal role in the continued growth.
Kuwait medical device market is in its late growth stage (based on distributor model) and has a limited number of large players dominating the market. The medical devices market in Kuwait is completely import driven dominated by international brands. The medical devices market in Kuwait has witnessed growth owing to the increased participation of private players in healthcare sector. Technological innovations and increased focus on infrastructure development has also resulted in increased demand of medical devices in Kuwait. Heavy investments in infrastructure projects are driving the growth in Kuwait. Increase in number of chronic diseases has resulted in increase in demand of healthcare facilities in the country. The end users of medical devices are government as well as private sector hospitals, clinics and primary care centers.