Saudi Arabia Cardiovascular Devices Market Size (2024 - 2029)

The Saudi Arabia Cardiovascular Devices Market is projected to experience significant growth due to several key factors. The increasing prevalence of cardiovascular diseases, coupled with a growing geriatric population, underscores the demand for diagnostic and treatment devices. Efforts to enhance healthcare infrastructure and accessibility further drive market expansion. However, the high cost of medical instruments and procedures may pose a challenge, potentially limiting the market's growth trajectory.

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Market Size of Saudi Arabia Cardiovascular Devices Industry

Saudi Arabia Cardiovascular Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 0.76 Billion
Market Size (2029) USD 1.21 Billion
CAGR (2024 - 2029) 9.81 %
Market Concentration Medium

Major Players

Saudi Arabia Cardiovascular Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Saudi Arabia Cardiovascular Devices Market Analysis

The Saudi Arabia Cardiovascular Devices Market size is estimated at USD 0.76 billion in 2024, and is expected to reach USD 1.21 billion by 2029, growing at a CAGR of 9.81% during the forecast period (2024-2029).

  • The high burden of cardiovascular diseases, the growing geriatric population, the increasing focus on health, and various initiatives taken to improve healthcare infrastructure and accessibility of healthcare services are key factors driving the market's growth.
  • The country's high prevalence of cardiovascular disease creates the need for devices for diagnostic and treatment purposes, thus driving the market's growth. For instance, a study published in BMC Cardiovascular Diseases in March 2024 revealed that the prevalence of cardiovascular disease in Saudi Arabia during the study period among the 15-year-old and older population was 1.6%.
  • The above-mentioned study also revealed that age was one of the prominent factors in cardiovascular disease. The prevalence of cardiovascular disease increases with age gradually and rises sharply after 50. Thus, the high proportion of the country's aging population is expected to contribute to the growth of the market in the future.
  • Initiatives taken by various public health-focused institutes to improve the accessibility of different procedures in the nation also drive the consumption of devices used in particular procedures, boosting the market's growth.
  • In November 2022, Saudi Arabia's King Salman Humanitarian Aid and Relief Center (KSRelief) launched a voluntary medical program specializing in open-heart surgery and catheterization for children in Bamako, Mali. The program focused on providing open-heart surgery and catheterization procedures for needy children. The initiative aims to improve the healthcare infrastructure in the region and offer essential medical assistance to those who require it the most.
  • However, the high cost of instruments and procedures may restrict the number of people in the country undergoing diagnosis and treatment for cardiovascular diseases, which is expected to restrain market growth during the forecast period.

Saudi Arabia Cardiovascular Devices Industry Segmentation

As per the scope of this report, cardiovascular devices are used to diagnose heart diseases and treat related health problems. These devices are witnessing various applications in different healthcare and homecare settings.

The Saudi Arabian cardiovascular devices market is segmented by device type. The market is sub-segmented into diagnostics and monitoring devices as well as therapeutic and surgical devices. The report offers the value (in USD) all for the above-mentioned segments.

By Device Type
Diagnostic and Monitoring Devices
Electrocardiogram (ECG)
Remote Cardiac Monitoring
Other Diagnostic and Monitoring Devices
Therapeutic and Surgical Devices
Cardiac Assist Devices
Cardiac Rhythm Management Device
Catheter
Grafts
Other Therapeutic and Surgical Devices
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Saudi Arabia Cardiovascular Devices Market Size Summary

The Saudi Arabia cardiovascular devices market is poised for significant growth, driven by the high prevalence of cardiovascular diseases and an aging population. The increasing focus on health and improvements in healthcare infrastructure are further propelling market expansion. The demand for diagnostic and treatment devices is fueled by the country's efforts to enhance healthcare accessibility and the rising number of cardiac procedures. Initiatives by public health organizations and partnerships with international companies are also contributing to market growth. However, the high cost of medical instruments and procedures may pose challenges to widespread adoption and could potentially restrain market growth during the forecast period.

The market for cardiovascular devices in Saudi Arabia is characterized by a growing demand for electrocardiogram (ECG) devices and cardiac catheters, driven by the high incidence of obesity and related cardiovascular risk factors. The increasing number of cardiac procedures and the high burden of geriatric patients necessitate advanced diagnostic and monitoring equipment. The market is moderately competitive, with international players dominating and strategically partnering with local companies to enhance their presence. Recent collaborations and product launches indicate a robust market trajectory, with key players like Abbott Laboratories, GE Healthcare, and Medtronic PLC playing pivotal roles in shaping the industry's future.

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Saudi Arabia Cardiovascular Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Burden of Cardiovascular Diseases

      2. 1.2.2 Rapid Technological Advancements

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Instruments and Procedures

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 2.1 By Device Type

      1. 2.1.1 Diagnostic and Monitoring Devices

        1. 2.1.1.1 Electrocardiogram (ECG)

        2. 2.1.1.2 Remote Cardiac Monitoring

        3. 2.1.1.3 Other Diagnostic and Monitoring Devices

      2. 2.1.2 Therapeutic and Surgical Devices

        1. 2.1.2.1 Cardiac Assist Devices

        2. 2.1.2.2 Cardiac Rhythm Management Device

        3. 2.1.2.3 Catheter

        4. 2.1.2.4 Grafts

        5. 2.1.2.5 Other Therapeutic and Surgical Devices

Saudi Arabia Cardiovascular Devices Market Size FAQs

The Saudi Arabia Cardiovascular Devices Market size is expected to reach USD 0.76 billion in 2024 and grow at a CAGR of 9.81% to reach USD 1.21 billion by 2029.

In 2024, the Saudi Arabia Cardiovascular Devices Market size is expected to reach USD 0.76 billion.

Saudi Arabia Cardiovascular Devices Market Report Snapshots

Saudi Arabia Cardiovascular Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)