A Medical Devices is any tool, equipment such as any software, biologic or non-biologic well suited material, for use for the diagnostic or therapeutic use for control of diseases and issues. The Medical Devices industry is one of the quickest developing segment of healthcare enterprise mainly pushed by innovation and new technology. The arena had witnessed an unparalleled boom and has revolutionized healthcare by means of the development of cutting-edge Medical Devices. The medical devices industry has also resulted within the successful mixture of statistics era and healthcare and has catalyzed boom in both sectors.
Saudi Arabia Medical Devices Market to reach around $ 3870 million from $ 2250 million in 2017, by the end of the forecast period at a CAGR of ~9.5%.
Generation and product improvement stay the primary pillars for the growing market for Medical Devices. Despite the fact that there has been application of new information to Medical Devices however most innovations in Medical Devices are primarily based on solving engineering problem. Improvement of more potent and biocompatible materials led the increase of bio-implants section, at the same time as improvements in connectivity and processing power led the growth of diagnostic imaging sector. The opposite drivers of Medical Devices market are rising value of healthcare which stimulated development of revolutionary connected products which includes wearable Medical Devices, falling price of production and growing manufacturing capacities in digital enterprise, call for early detection and noninvasive cures and so on.
The market constraints are strict and ambiguous regulatory framework, developing situation for safety mainly facts security, differential availability between developed and growing regions, connectivity troubles in terrible regions of the arena and many others.
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Some of the key players in this market are: Johnson & Johnson, General Electric, Medtronic, Koninklijke Philips Electronics NV., Baxter International, Fresenius Medical Care AG & Co., Cardinal Health, Al-Salehiya Medical Estableshment, Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Al Amin Medical Instruments Company (AMICO), Al Faisaliah Medical Systems (FMS), Siemens Ltd and others.
The healthcare sector of Saudi Arabia is divided between private and state. The public healthcare expenditure accounts for approximately 75% of total health expenditure in 2014. Local manufacturing represents a poor outlook which is limited to consumables and ordinary articles. The government has established some of the best hospitals in the region such as King Faisal specialist hospital and research center, Riyadh military hospital, Saudi Arabia’s National Guard health affairs hospital etc. Saudi Arabia is extremely dependent on imports for medical devices and imports account for approximately 92% of total market for medical devices. U.S. medical device suppliers dominate the scenario with European vendors in the second position. Among the regions of Saudi Arabia Riyadh tops the healthcare expenditure list followed by Tabuk, Makkah and Madina.
1 Report Prologue
2.1 Scope of Study
2.2 Research Objective
2.3 Assumptions & Limitations
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
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4 Market Dynamics
5 Market Factor Analysis
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To view the original version on ABNewswire visit: Saudi Arabia Medical Devices Market Statistics, Key Trend and Business Forecast to 2023; Says Johnson & Johnson, Cardinal Health, Siemens Ltd and More
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