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DUBLIN--(BUSINESS WIRE)--Oct 26, 2022--
The "Saudi Arabia Medical Devices Market, By Type (Cardiovascular Devices, Diagnostic Imaging Equipment, In-vitro Diagnostic Devices, Ophthalmic Devices, Orthopedic Devices, Others), By End User, By Company, By Region, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia medical devices market is anticipated to grow at a significant CAGR during the forecast period
The growth can be attributed to the technological advances leading to new product developments and increasing expenditure by the Saudi government for upgrading medical infrastructure in the country.
Besides, rise in number of healthcare facilities and increasing prevalence of chronic disorders and infectious diseases are driving the growth of Saudi Arabia medical devices market. Many pharmaceutical and biotechnological companies are rapidly working towards developing medical devices to cater to patients' evolving needs, which is driving the growth of Saudi Arabia medical devices market.
Additionally, increasing emphasis of healthcare agencies towards early diagnostic and treatment for improved quality of life and reduced health risks are leading to an increased adoption of medical devices, which is supporting their market growth. Increasing demand for diagnostic and surgical procedures and rising personal disposable income are supporting the growth of Saudi Arabia medical devices market.
Unhealthy lifestyle and less time spent on physical activities are contributing to the Saudi Arabia medical devices market growth. Use of selective devices in orthopedic, cardiovascular, and other surgeries as well as other diagnostic imaging equipment is boosting the demand for medical devices in Saudi Arabia. E
nhanced emphasis on maintaining good health by tracking and monitoring activities through wearable devices such as fitness trackers and activity monitors is also expected to boost the Saudi Arabia medical devices market growth in the coming years.
However, increased concerns regarding data security and data privacy and high acquisition and maintenance costs of medical devices could hamper the market growth of Saudi Arabia medical devices market. Besides, inadequate reimbursement policies for medical devices could also limit their adoption.
The in-vitro diagnostic devices segment registered the highest growth in 2021 and is expected to dominate the market in coming years owing to increased uptake of real-time diagnostic tests for accurate diagnosis of diseases such as cancer, HIV/AIDS, diabetes, etc.
Objective of the Study:
Competitive Landscape
Companies involved in the Saudi Arabia medical devices market are expanding their product portfolio and launching new products to sustain growth.
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia medical devices market.
Report Scope:
Years considered for this report:
Saudi Arabia Medical Devices Market, By Type:
Saudi Arabia Medical Devices Market, By End User:
Saudi Arabia Medical Devices Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/en98ao
View source version on businesswire.com:https://www.businesswire.com/news/home/20221026005668/en/
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KEYWORD: MIDDLE EAST SAUDI ARABIA
INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/26/2022 10:08 AM/DISC: 10/26/2022 10:08 AM
http://www.businesswire.com/news/home/20221026005668/en