Saudi Arabia Cardiac Surgery Instruments Market Report 2022 to 2030

Saudi Arabia Cardiac Surgery Instruments Market Analysis

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The Saudi Arabia Cardiac Surgery Instruments Market is expected to witness growth from $35 Mn in 2022 to $66 Mn in 2030 with a CAGR of 8.10% for the forecasted year 2022-2030. In Saudi Arabia, the incidence of cardiovascular diseases such as coronary heart disease, stroke, and hypertension is rising. In order to diagnose, treat, and control these conditions, cardiac surgery equipment is in high demand. The market is segmented by type, application and by end user. Some key players in this market include Al Madar Medical, Aljeel Medical, Alhammad medical, LivaNova, B. Braun, Medline Industries, KLS Martin, and STILLE.

ID: IN10SAMD004 CATEGORY: Medical Devices GEOGRAPHY: Saudi Arabia AUTHOR: Jigyasu Bhandari

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Saudi Arabia Cardiac Surgery Instruments Healthcare Market Executive Analysis

The Saudi Arabia Cardiac Surgery Instruments Market size is at around $35 Mn in 2022 and is projected to reach $66 Mn in 2030, exhibiting a CAGR of 8.10% during the forecast period. Saudi Arabia's budget for 2023 allocates 4.5% less money for healthcare than it did in 2022. In 2023, health expenses will comprise 5.5% of GDP. In Saudi Arabia, males can expect to live to an average age of 75.33, while women can expect to live to an average age of 78.56. Out-of-pocket expenses as a share of overall health expenditure in Saudi Arabia were 16.5% in 2020.

Saudi Arabia's high mortality and morbidity rates from cardiovascular diseases are a major cause for worry regarding the country's health. A few of the many factors influencing the frequency and prevalence of cardiac diseases in Saudi Arabia include age, gender, lifestyle, and socioeconomic status. The most common type of CVD in Saudi Arabia is ischemic heart disease (IHD), which accounts for 50% of all CVD-related deaths. Hypertension is a major risk factor for CVD and is common in Saudi Arabia with a prevalence of 27.6% among people. Congenital heart disease (CHD) accounts for a significant percentage of morbidity and mortality in Saudi Arabia. In the country, CHD affects about 1% of all births.

In Saudi Arabia, the tools used for the diagnosis, treatment, and care of cardiac diseases include essential cardiac surgery instruments. Cardiac surgery instruments such as echocardiography machines, electrocardiogram machines, and stress tests are used to identify and evaluate heart diseases in Saudi Arabia. These devices enable medical personnel to identify structural and functional heart issues as well as track alterations in the heart's performance over time. Certain instruments for cardiac surgery are made for minimally invasive techniques, like percutaneous coronary intervention, which can be used to address coronary artery blockages. These procedures enable patients to experience less discomfort, shorter hospital stays, and quicker recoveries. Traditional open-heart surgery, which is still needed in some circumstances, also uses cardiac surgery tools. These tools are used to carry out operations like valve repair or replacement and Coronary Artery Bypass Grafting (CABG). The surgical outcomes for patients in Saudi Arabia have increased as a result of advancements in cardiac surgery equipment. For patients with specific heart conditions, devices like stents and artificial valves have been developed to offer improved long-term outcomes.

Saudi Arabia Cardiac Surgery Instruments Market Analysis

Market Dynamics

Market Growth Drivers

People elder than 65 are more susceptible to cardiovascular diseases, which is factual in Saudi Arabia. The demand for the cardiac surgery instruments essential for the diagnosis, treatment, and care of these conditions is being driven by this shift in the population. Saudi Arabia's government has recently made momentous investments in healthcare infrastructure, with prominence on expanding access to healthcare services and raising the standard of care. This has raised public knowledge of cardiovascular diseases and increased demand for instruments used in cardiac surgery. The development of new technologies, such as minimally invasive surgical methods, has given manufacturers the chance to build new, more effective instruments for cardiac surgery. In Saudi Arabia, the incidence of cardiovascular diseases such as coronary heart disease, stroke, and hypertension is rising. In order to diagnose, treat, and control these conditions, cardiac surgery equipment is in high demand.

Market Restraints

The Saudi Arabian healthcare system is striving very hard to cut costs, which has placed pressure on the price of medical devices like the instruments used in cardiac surgery. As a result, maintaining steady profit margins may be difficult for manufacturers. In Saudi Arabia, where both domestic and foreign manufacturers are involved, the market for cardiac surgery instruments is extremely competitive. In the Saudi Arabian healthcare industry, some manufacturers may feel price pressure and see their market share decline as a result of the competition.

Competitive Landscape

Key Players

Al Madar Medical (SA)
Aljeel Medical (SA)
Alhammad medical (SA)
LivaNova
B. Braun
KLS Martin
Medline Industries
STILLE

Healthcare Policies and Regulatory Landscape

The Saudi Food and Drug Authority (SFDA) is the regulating body in charge of making sure that medical devices, including those used in cardiac surgery, are protected and operative in Saudi Arabia. The SFDA launches criteria and rules for the certification, licensing, and importation of cardiac surgery instruments. Medical devices, such as the instruments used in cardiac surgery, are authorized for use in Saudi Arabia through the Medical Device Market Authorization (MDMA) regulatory practice. Before launching their goods on the domestic market, manufacturers must receive an MDMA from the SFDA. The Saudi Arabian National Transformation Plan (NTP) is a government-sponsored initiative with the goal of enhancing the country's healthcare infrastructure. The National Transformation Plan (NTP) contains a number of initiatives to raise the standard of healthcare, expand access to it, and encourage innovation in the sector, including the market for cardiac surgery instruments. Saudi Vision 2030 is a long-term strategy that seeks to make Saudi Arabia a hub connecting three continents and a global investment powerhouse. The growth of the market for cardiac surgery instruments and the encouragement of local manufacturing are just a couple of the initiatives it contains to better the Saudi Arabian healthcare system.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cardiac Surgery Instruments Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into segments in this study based on the goods, applications, end users, and geographical areas. The market is divided into forceps, scissors, needle holders, clamps, and other cardiac surgery instruments based on the product. In 2017 the forceps category led the market, and it is anticipated that it will increase at the fastest rate going forward. The rise in heart surgeries and the frequent usage of forceps in most cardiac procedures are credited with the segment's strong growth.

Forceps
Vascular Forceps
Grasping Forceps
Other Forceps
Needle Holders
Scissors
Clamps
Other Cardiac Surgical Instruments

By Application (Revenue, USD Billion):

The market is further segmented by application into paediatric cardiac surgery, heart valve surgery, coronary artery bypass graft (CABG), and other applications. The Saudi Arabia market's largest and fastest-growing application segment is CABG. This is mostly explained by the increased prevalence of heart illnesses and the consequent rise in surgical treatments. The second-largest category is heart valve surgery.

Coronary Artery Bypass Graft (CABG)
Heart Valve Surgery
Pediatric Cardiac Surgery
Other Applications

By End User (Revenue, USD Billion):

Based on the end user, the market is segmented into hospitals and cardiac centers, and ambulatory surgery centers. The hospitals and cardiac centers segment is expected to dominate the market for cardiac surgery instruments. Growth in this end-user segment can be attributed to the increasing incidence of cardiac and heart valve diseases and the subsequent increase in the number of cardiac surgery procedures.

Hospitals and Cardiac Centers
Ambulatory Surgery Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.