Endoscopic Devices - Saudi Arabia

Revenue in the Endoscopic Devices market market in Saudi Arabia is anticipated to attain US$356.60m in 2024.
The revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 6.60%, leading to a market volume of US$490.70m by 2029.
In a global context, the majority of revenue will be produced the United States, with a projected figure of US$10.39bn in 2024.
The Saudi Arabian market for endoscopic devices is experiencing rapid growth, driven by increased healthcare investments and a rising demand for minimally invasive surgical procedures.

Definition:
The Endoscopic Devices market, a medical technology market, includes the sale of endoscopic devices. Endoscopy involves the use of an endoscope to examine the inside of a hollow organ or body cavity. The market includes various types of endoscopes, such as gastroscopes, laparoscopes, bronchoscopes, and colonoscopes.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation. Further information on the key players can be found in the Market Shares boxes.

Endoscopic devices
Implants such as stents

pharmaceuticals for endoscopic procedure

The Endoscopic Devices Market in Saudi Arabia is witnessing moderate growth, influenced by factors such as the increasing prevalence of chronic diseases, advancements in minimally invasive technologies, and a growing emphasis on improving healthcare infrastructure.

Customer preferences: In Saudi Arabia, there is a notable shift towards greater acceptance of minimally invasive surgical procedures, driven by a growing awareness of health and wellness among the population. Patients are increasingly prioritizing quicker recovery times and reduced hospital stays, which aligns with cultural preferences for healthcare solutions that allow for a faster return to daily life. Additionally, younger demographics are showing heightened interest in advanced medical technologies, spurring demand for innovative endoscopic devices that align with their modern lifestyle and health management goals.

Trends in the market: In Saudi Arabia, the Endoscopic Devices Market is experiencing a surge in demand, driven by the increasing acceptance of minimally invasive surgical techniques. This trend is propelled by rising patient awareness regarding the benefits of faster recovery and shorter hospital stays, aligning with cultural preferences for efficient healthcare solutions. Furthermore, the younger population's enthusiasm for cutting-edge medical technologies fosters innovation in endoscopic devices. As healthcare providers adapt to these evolving patient needs, industry stakeholders must prioritize advancements in device technology and training to remain competitive in this dynamic market.

Local special circumstances: In Saudi Arabia, the Endoscopic Devices Market is influenced by a unique combination of cultural values and regulatory frameworks. The emphasis on family-centered care aligns with the preference for minimally invasive procedures that support quicker recoveries, resonating with patients' desire to return to their daily lives swiftly. Additionally, government initiatives promoting healthcare modernization and investments in medical infrastructure enhance the availability of advanced endoscopic technologies. These local factors create a distinctive landscape for market growth, differentiating it from other regions.

Underlying macroeconomic factors: The Endoscopic Devices Market in Saudi Arabia is significantly influenced by various macroeconomic factors, including national economic health, global economic trends, and fiscal policies. As the Saudi government continues to diversify its economy through Vision 2030, investments in healthcare infrastructure and modernization initiatives are accelerating the adoption of advanced medical technologies. Additionally, the rising prevalence of lifestyle-related diseases among the population boosts the demand for minimally invasive procedures. Favorable trade policies and collaborations with international medical device manufacturers further enhance market access, driving innovation and competition within the sector.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.