Medical device market
In 2005, the Saudi Arabian market for medical equipment and supplies is estimated at US$475 million, or US$20 per capita. In value terms, the market size is comparable to Finland; in per capita terms, the market is similar to Lebanon and Serbia. Saudi Arabia produces very little medical equipment, so around 90% of the market is supplied by imports.
Summary of Saudi Arabian Medical Device Market in 2005.
Source: Espicom estimates. Revised latest estimates published in The World Medical Market Report: Current Trends, Future Prospects, published by Espicom in May 2004.
Projections & Outlook
The medical device and supplies market is expected to rise steadily in Saudi Arabia over the next few years; the pace of growth may quicken if private sector investment reaches the levels hoped for in the Seventh Development Plan. It is expected that the device market will continue to expand at an average rate of 4% per annum. This will take the Saudi Arabian market to US$578 million in 2010, or US$20 per capita.
Market Projections, 2005-2010
Market Prjections by Category, 2005-2010