Saudi Arabia Medical Devices Market Size, Share, Forecast, & Trends Analysis by Product (IVD, Monitoring, Neurology, Diabetic Care, Orthopedic, Cardiology) Risk Type, Application (Cardiology, General Surgery, Orthopedics) End User - Forecast to 2031

The Saudi Arabia Medical Devices Market was valued at $2.19 billion in 2023. This market is expected to reach $3.28 billion by 2031 from an estimated $2.33 billion in 2024, at a CAGR of 5.0% during the forecast period of 2024-2031.

Saudi Arabia Medical Devices Market Size & Forecast

The growth of the Saudi Arabia medical devices market is primarily driven by the growing prevalence of chronic diseases coupled with the geriatric population, supportive initiatives for strengthening healthcare in Saudi Arabia, and the expansion of medical device companies in Saudi Arabia. Furthermore, the development and transformation of Saudi’s healthcare services and the growing emphasis on medical tourism are expected to generate growth opportunities for the stakeholders in this market.

Key Findings in the Saudi Arabia Medical Devices Market

• By Product: The Monitoring Devices Segment to Dominate the Saudi Arabia Medical Devices Market in 2024
• By Risk Type: The Low-Risk Medical Devices Segment to Dominate the Saudi Arabia medical devices Market in 2024
• By Application: The Diagnostic imaging Segment is Expected to Dominate the Saudi Arabia medical devices Market in 2024
• By End User: The Hospitals & Clinics Segment is Expected to Account for the Largest Share of the Saudi Arabia medical devices Market in 2024

Saudi Arabia Medical Devices Market Growth Drivers

Government Investment for Improving Healthcare

The Government of Saudi Arabia is making ongoing investments to enhance the country's healthcare infrastructure. Key outcomes of these investments include the increasing number of hospitals and healthcare systems, the growing adoption of digital health technologies, and improved access to healthcare services. Under Vision 2030, the government has committed to investing over USD 65 billion to develop healthcare infrastructure. In addition, the Ministry of Health (MoH) and other government agencies are supporting public-private partnerships (PPP) to develop healthcare facilities while minimizing financial burdens.

As part of these efforts, the MoH, in collaboration with private sector entities, is driving initiatives to strengthen healthcare services. For example, in June 2023, the Ministry granted Altakassusi Alliance Medical LLC—a joint venture between Alliance Medical Group, King Faisal Specialist Hospital & Research Center, and Nexus Gulf Healthcare—a project to enhance radiology and imaging services across seven hospitals in Saudi Arabia. This collaboration aims to transfer knowledge, upskill the local healthcare workforce through training programs, and improve the quality of care. The expansion of imaging services requires advanced diagnostic devices, further contributing to the growth of the medical device market in the region.

Expansion of Medical Device Companies in Saudi Arabia

The expansion of healthcare and medical device companies in Saudi Arabia is driving growth in the medical device sector. Companies are increasing their presence in the country due to strong government support, health initiatives, and a rapidly growing healthcare ecosystem. This expansion enhances accessibility to medical devices, allowing companies to meet the needs of an underserved customer base. Several medical device companies have already strengthened their foothold in Saudi Arabia. For example:

• In February 2024, Johnson & Johnson MedTech (U.S.) started direct operations in Saudi Arabia. The company offers high-tech medical and surgical equipment. This strategic development is in line with the company’s commitment to improving healthcare in Saudi Arabia.
• In February 2024, Siemens Healthineers partnered with Dallah Health (Saudi Arabia) to expand its strategic partnership in Saudi Arabia. This collaboration aims to transform healthcare delivery by integrating advanced technologies in various business units such as technology management, operations, workforce development, and facility design.

Saudi Arabia Medical Devices Market Opportunities

Transforming Healthcare Services in Saudi Arabia

Saudi Arabia's healthcare sector is rapidly evolving, driven by advanced technologies, new programs, and infrastructure improvements aimed at enhancing the quality of care. The Ministry of Health has launched a health sector transformation program to improve access to services and attract more investments. As part of Vision 2030, the country has prioritized the acceleration of emergency services to reduce patient wait times, expanded the number of surgeries performed weekly from 2,000 to 8,400, and ensured timely access to critical interventions to address the growing healthcare needs of the population. This transformation in healthcare delivery is driving the demand for medical devices across the distribution network, fueling growth in Saudi Arabia's medical device market.

Saudi Arabia Medical Devices Market: Top Market Opportunity

The Monitoring devices segment is expected to Dominate the Saudi Arabia Medical Devices Market in 2024

Based on product type, the Saudi Arabia Medical Devices Market is segmented into Monitoring Devices, Diabetic Care, Invitro Diagnostics (IVD), Neurology, Ophthalmic, Diagnostic Imaging, Cardiology, Orthopedics, Drug Delivery, General and Plastic Surgery, Dental, Wound Management, Endoscopy, Ear, Nose & Throat, Nephrology, General Hospital & Healthcare, Skin Care & Aesthetics, Other Products. In 2024, the Monitoring Devices segment is expected to account for the largest share of the Saudi Arabia Medical Devices Market.

The large share of this segment is driven by the increasing burden of chronic diseases, widespread adoption of advanced medical practices, and high population density. As the population grows, coupled with a higher incidence of chronic conditions, there is a growing need for healthcare solutions to monitor health status and access real-time data. This demand is fueling the growth of the in vitro diagnostics (IVD) devices market.

However, the diabetic care devices segment is slated to register the highest CAGR during the forecast period. The increasing prevalence of diabetes in Saudi Arabia, coupled with technological advancements in diabetic care devices, is driving market growth. The rising number of hospital admissions and growing awareness about diabetes among patients further contribute to the demand for diabetic care devices. For example, a study published in the *Cureus* journal indicates that approximately 49.9% of hospitalized patients in Riyadh have diabetes. This high rate of diabetes-related hospitalizations is prompting healthcare providers to invest in and adopt the latest diabetic care devices, thereby accelerating market growth.

Saudi Arabia Medical Devices Market: Key Companies

The report includes a competitive landscape based on an extensive assessment of the product offerings, geographic presence, and key strategic developments of leading market players. The key players operating in the Saudi Arabia medical devices market are Koninklijke Philips N.V. (Netherlands), GE HealthCare Technologies Inc. (U.S.), Smith+Nephew. (U.K.), Zimmer Biomet. (U.S), Siemens Healthineers AG (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Becton, Dickinson and Company (U.S), Olympus Corporation (Japan), Johnson & Johnson (U.S.), Medtronic plc (Ireland), Drägerwerk AG & Co. KGaA (Germany) and Abbott Laboratories (U.S.).

Saudi Arabia Medical Devices Market Overview: Latest Developments from Key Industry Players

• In January 2024, Scientific & Medical Equipment House Co. (Saudi Arabia) signed a distribution agreement with Haier Germany to market and distribute operating room equipment in Saudi Arabia. This partnership aims to expand the company's customer base and portfolio of medical equipment agencies in the region.
• In April 2023, Dr. Sulaiman AL Habib Medical Group (Saudi Arabia) invested USD 1.73 billion to construct six hospitals in Saudi Arabia with advanced medical facilities and innovative healthcare services.
• In April 2021, Analytica Limited (Australia) signed an agreement with Al Marwa Medical Supplies (Marwa) to distribute and commercialize the enhanced infusion system to hospital systems in the Middle East region.

Saudi Arabia Medical Devices Market Research Summary

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