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Saudi Medical Devices Market to grow at 5% CAGR
Feb 10, 2009
According to the report “Saudi Arabian Healthcare Market Forecast to 2012”, the medical devices market of Saudi Arab is the largest in the GCC region and is presently experiencing solid growth. The market closed at in excess of US$ 700 in 2008, and it is expected to grow at a robust growth in the coming future. One of the biggest drivers of this growth is the rapid growth of the country’s medical infrastructure. Between 2002 and 2008, more than 12,000 hospital beds have been added in the country. In addition, hundreds of pathology labs and clinics are being opened each year. This has created a huge demand for the installation and use of medical equipment and supplies.
Moreover, as per the report, the robust growth of the country’s population which will reach nearly 28 Million by 2012, coupled with the high prevalence of chronic diseases such as obesity, diabetes and cardiovascular diseases, will also push the demand for both therapeutic as well as well as monitoring devices. Diabetes, which presently affects more than 9% of the entire Saudi Arab adult population, is expected to create a huge demand for glucose monitoring and diagnostic devices.
The RNCOS analysis suggests that another 9,000 hospital beds are expected to be added in the country in near term, and the prevalence of chronic diseases is only expected to get worse. We expect that the total medical devices market - which includes medical equipments and supplies - will grow at a CAGR of over 5% through 2012.
“Saudi Arabian Healthcare Market Forecast to 2012” gives an extensive and objective analysis on the Saudi Arab Healthcare Market. The report has segmented the healthcare industry as the hospital services, pharmaceuticals and medical devices. Analysis as well as statistics on these segments regarding the market size, demand, supply, segmentation, key players etc has been presented in this report. An analysis on the future directions, supplemented with both facts and figures has also been done by the report. Thus the report serves as a useful guide for Healthcare companies, Government officials, consultants and investors etc who are planning to enter or evaluate the Saudi Arab Healthcare Market.
For more information visit: http://www.rncos.com/Report/IM173.htm
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