Saudi Arabia Medical Device Industry Set For Growth

The medical device industry in Saudi Arabia is anticipated to grow at a CAGR of around 12% during 2010-2012, says RNCOS in its latest research study. End Quote

(1888PressRelease) July 03, 2010 - According to our latest research report "Saudi Arabian Healthcare Market Forecast to 2012", the medical device industry is one of the largest segments of the healthcare industry in Saudi Arabia and has been showing noteworthy growth in current years. The medical device market is estimated to be worth around US$ 790 Million in 2009. The main drivers of the growth in this industry will be the increasing investments by the public and the private sectors for setting up hospitals and clinics, which will create a strong demand for medical equipment and supplies.

We have done extensive research and prudent analysis of the Saudi Arabian medical device market in order to understand the factors that will continue to serve as growth driver for this market over the forecast period (2010-2012). We have identified that various factors such as increasing rate of chronic diseases and rising old age population will create a substantial demand for diagnostic and monitoring devices, particularly diabetes and cardiovascular medical devices. Future of this industry, therefore, remains pleasantly buoyant and it is expected that this industry will grow at a CAGR of around 12% during 2010-2012. The optimistic outlook for the growth of this industry bases with the fact that the health insurance in the country is increasing at a high rate which will boost the spending on medical devices.

Our research indicates that the Saudi healthcare industry has immense growth potential as it is in the initial stages of development. There is a high demand for hospital services and healthcare professionals in the industry. Further, the country is highly dependent on imported drugs, thereby giving room to the private players to set up their own manufacturing capacities in the country.

Our report "Saudi Arabian Healthcare Market Forecast to 2012" provides an extensive research and rational analysis along with reliable statistics of the Saudi Arabia healthcare industry. It covers major industries, segment-wise break up and information on major emerging market segments to give strategic insight into the market. The report thoroughly examines current market trends, industrial developments and competitive landscape to enable clients understand the market structure and its progress in coming years.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM173.htm

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About RNCOS:

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.

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