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Market Report, "the Medical Device Market: Saudi Arabia", Published

New Medical Devices market report from Espicom Business Intelligence: "The Medical Device Market: Saudi Arabia"


Boston, MA -- (SBWIRE) -- 04/03/2014 -- Hydrocarbon-rich Saudi Arabia has the dominant economy of the Middle East. Oil receipts in 2012 were buoyed by a year of high barrel prices (Brent crude averaged US$112) and elevated domestic production, which grew by 5% year-on-year. BMI's Country Risk team forecasts that GDP will post a moderate 2013-2018 CAGR. The key risks to this outlook is military conflict in the region, a power struggle following the succession of King Abdullah bin Abdulaziz Al Saud and the re-emergence of Arab Springtype discontent.

Saudi Arabia's medical device market is valued at US$1,815mn in 2013, making it the largest in the Middle East, ahead of Israel (US$1,099mn), the UAE (US$841mn) and Iran (US$767mn). However, annual percapita spending is US$62, which is the third highest in the region. Medical device spending in Saudi Arabia as a percentage of GDP and healthcare expenditure is 0.3% and 6.3%, respectively.

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The few medical device manufacturers in Saudi Arabia focus on low-end consumables or act as agents for foreign firms. High-end products are generally imported from the US and Western European multinationals. The most prominent local firms are Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Alshifa Medical Syringes Manufacturing Co and Jamjoon Hospital Supply (JHS).

Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:

Unique projected estimates of market size and growth for 33 equipment categories
Five year statistical data for key economic and healthcare indicators
Information on regulation, distribution and market access, including Espicom's unique distributor directory
Detailed Medical trade data
Data on leading local/multinational medical equipment players in the market


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