Release Date: 04-Sep-2014
“Saudi Arabia Medical Device Market Outlook 2018” Report Highlights:
The Saudi Arabian healthcare industry is currently in a golden era with the government planning to increase its healthcare investments by manifold. According to the 9th Five year plan in the country, the healthcare spending accounted for a significant 17% of the total budget, with plans to construct 117 new hospitals, 750 primary health care centers and 400 emergency centers. These new establishments would be equipped with cutting-edge medical devices and furnishings which will create huge opportunities, especially for medical device manufacturers globally.
Accounting for nearly 50% of the total Middle East market, the Saudi Arabian medical devices market is estimated to be close to US$ 1 Billion. With many factors driving the growth, this industry is expected to surpass USD 1.5 Billion by 2018, by registering a growth of 12-14%. Among the major drivers of the medical devices industry in Saudi is the significant growth trajectory of the healthcare industry overall with a band of new multi-specialty hospitals and health care facilities likely to be set up. A major part of the demand for medical devices is expected to stem from these new facilities in the next 2-5 years.
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