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Saudi Arabia General Surgical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 90 Pages
  • August 2022
  • Region: Saudi Arabia
  • Mordor Intelligence
  • ID: 4987303
Saudi Arabia General Surgical Devices Market is expected to register a CAGR of around 5.7% over the forecast period (2022-2027).

Covid-19 has significantly impacted the Saudi Arabia general surgical devices market due to consistent lockdowns and a decrease in outpatient department (OPD) visits. For instance, according to the study published in the Asian Journal of Urology, titled 'Impact of COVID-19 on endourology surgical practice in Saudi Arabia: A national multicenter study' in October 2021, the number of OPD visits in April 2020 was 1512, down 78.6 percent from April 2019, with 1373 (90.8 percent) of those being teleclinics. When comparing the first third of 2020 to the first third of 2019, the number of elective procedures declined by 34.3 percent (from 3025 to 1988). In April 2020, there were 120 elective procedures, down 84.1 percent from April 2019. This has resulted in a decline in the adoption of surgical devices in this region, impacting the market growth.

The healthcare system of Saudi Arabia provides free, comprehensive, and universal health care services to all the people in the country. Owing to this, there is a high demand for health services resulting in long waiting lists for non-urgent surgical cases in hospitals of Saudi Arabia. The number of hospitals in the country is on the rise and the Ministry of Health (MOH) is supporting the betterment of the infrastructure in the country. This is resulting in the growth of the market studied. The factors such as rising demand for minimally invasive surgeries, growing cases of injuries and accidents, increasing healthcare expenditures, among others are expected to drive the market growth in this region.

According to the study published in Global Scientific Research in Environmental Science, titled 'Impact of Traffic Accidents in the Saudi Arabia' in May 2021, according to this survey, the number of road accidents in Saudi Arabia is increasing. In comparison to other countries, Saudi Arabia has an injury ratio of 8:1. In comparison to the rest of the globe, it is obvious that traffic mishaps were deeply rooted in Saudi Arabia. The rising incidences of road accidents in Saudi Arabia will lead to increased adoption of general surgical devices, driving the market growth.

In addition, rising partnerships of medical device companies with the Saudi Arabian Governmental agencies will further lead to increased adoption of general surgical devices in this region, driving the market growth. For instance, in September 2021, the Saudi Authority for Industrial Cities and Technology Zones (MODON) has signed an industrial land lease contract in Jeddah's Third Industrial City in order to centralise the Kingdom's medical supply business. The contract aims to set up a project to localise the production of sterile surgical instruments ready for use in operations.

Along with that, the medical device market in Saudi Arabia is growing at a faster pace which is the fuelling factor for the market for general surgical devices. With the rising burden of cardiovascular diseases and orthopedic problems in the country, demand for these devices is increasing. According to the study published in BMC Public Health, titled 'Demographic, behavioral, and cardiovascular disease risk factors in the Saudi population: results from the Prospective Urban Rural Epidemiology study (PURE-Saudi)' in August 2020, it was reported that overall, 69.4% had low physical activity, 49.6% obesity, 34.4% unhealthy diet, 32.1% dyslipidemia, 30.3% hypertension, and 25.1% diabetes. In addition, 1% had a history of stroke, 0.6% had heart failure, and 2.5% had coronary heart disease (CHD). The rise in cardiovascular diseases due to lifestyle changes will lead to increased adoption of surgeries, thereby driving the growth of general surgical devices market in this region.

Hence, owing to the above-mentioned factors, the market for general surgical devices will grow in Saudi Arabia over the forecast period. However, stringent government regulations, improper reimbursement for surgical devices, among others are expected to hamper the market growth.

Key Market Trends


Electrosurgical Devices Is Expected To Register Significant Growth Over The Forecast Period


The electrosurgical devices have registered a significant share and are expected to do the same over the forecast period. Electrosurgical devices are becoming increasingly advanced. The development of advanced devices, like robotic electrosurgical devices for laparoscopic interventions, enhances a surgeon’s dexterity. Many innovations have been made, due to the need for high reliability, accuracy, and patient safety.

The factors such as the increasing number of surgeries in the country, and a rise in the prevalence of chronic diseases such as cancer, among others are boosting the segment. The market is further expected to grow and the prices are expected to fall, due to the entry of many new players in Saudi Arabia.

For instance, the rising prevalence of cancer in Saudi Arabia will also drive the market growth due to the adoption of handheld surgical devices during the surgeries. According to Globocan 2020, there were 27,885 new cancer cases noted in this region and 13,069 deaths have been reported due to cancer. Such instances will lead to increased adoption of these devices during cancer surgeries, driving this segment growth.

In addition, rising marketing approvals by the Government of Saudi Arabia on the general surgical devices will further lead to increased adoption of the same, driving the market growth. For instance, in August 2021, the Saudi Food and Drug Authority (SFDA) granted marketing authorisation to Lepu Medical's numerous cardiovascular products including electrosurgical devices demonstrating that the authorised devices can be legally marketed and sold in Saudi Arabia. This will further lead to increased adoption of such devices, driving the segment growth.

Therfore, owing to the above mentioned factors, this segment is expected to witness a significant growth over the forecast period.



Competitive Landscape


The market for general surgical devices in Saudi Arabia is moderately competitive with the presence of global as well as local players in the country. A large share of the market is grabbed by the global players whereas local companies are also having an intense competition to gain a substantial share in this market. The rapidly growing medical device industry is the prime reason behind more companies willing to expand in Saudi Arabia. Some of the major players in this market include B. Braun Melsungen AG, Stryker Corporation, Conmed Corporation, Johnson & Johnson, Getinge AB, and Medtronic PLC, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Minimally Invasive Devices
4.2.2 Growing Cases of Injuries and Accidents
4.2.3 Increasing Healthcare Expenditures in Country
4.3 Market Restraints
4.3.1 Stringent Government Regulations
4.3.2 Improper Reimbursement for Surgical Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Handheld Devices
5.1.2 Laproscopic Devices
5.1.3 Electro Surgical Devices
5.1.4 Wound Closure Devices
5.1.5 Trocars and Access Devices
5.1.6 Other Products
5.2 By Application
5.2.1 Gynecology and Urology
5.2.2 Cardiology
5.2.3 Orthopaedic
5.2.4 Neurology
5.2.5 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Boston Scientific Corporation
6.1.3 Conmed Corporation
6.1.4 Johnson & Johnson
6.1.5 Getinge AB
6.1.6 Medtronic PLC
6.1.7 Olympus Corporations
6.1.8 Stryker Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • B. Braun Melsungen AG
  • Boston Scientific Corporation
  • Conmed Corporation
  • Johnson & Johnson
  • Getinge AB
  • Medtronic PLC
  • Olympus Corporations
  • Stryker Corporation

Methodology

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