Accounting for nearly 50% of the total Middle East market, the Saudi Arabian medical devices market is estimated around US$ 1.1 Billion in 2013 and is expected to surpass USD 1.6 Billion by 2018, by registering a growth of 9% CAGR. The medical device sector is being anticipated to represent a strong growth in the coming years owing to overall increase in the health care spending, growing penetration by the healthcare insurance, increase in the per capita income, and huge investment in both human resources and infrastructure. A lot of initiatives have been introduced on the health front, which formidably contribute towards a changing scenario in all the allied fields of healthcare. Much is being done in terms of development of the health care setup both in terms of new treatment centers being planned and improvement of existing facilities. Many new specialties and super specialties facilities are being planned and introduced, which indirectly lead to upsurge in the demand of medical devices, equipments and services.
Domestic production of medical devices is very limited and restricted to very few items, which has plagued the industry since long and has made the sector highly imports driven. Imports are estimated to account for more than 80% of the overall market value and will continue to dominate in future due to limited production and small base of domestic manufacturers. “Saudi Arabia Medical Device Market Outlook 2018” by KuicK Research gives comprehensive insight on following aspects related to medical device market in Saudi Arabia: