Saudi Arabia Biosensors Market Size & Outlook, 2022-2030
Saudi Arabia biosensors market, 2018-2030 (US$M)
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Saudi Arabia biosensors market highlights
- The Saudi Arabia biosensors market generated a revenue of USD 203.2 million in 2022 and is expected to reach USD 473.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 11.2% from 2023 to 2030.
- In terms of segment, electrochemical was the largest revenue generating technology in 2022.
- Electrochemical is the most lucrative technology segment registering the fastest growth during the forecast period.
Biosensors market data book summary
| Market revenue in 2022 | USD 203.2 million |
| Market revenue in 2030 | USD 473.8 million |
| Growth rate | 11.2% (CAGR from 2022 to 2030) |
| Largest segment | Electrochemical |
| Fastest growing segment | Electrochemical |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermal, Electrochemical, Piezoeletric, Optical |
| Key market players worldwide | Bio-Rad Laboratories Inc, Medtronic PLC, Abbott Laboratories, Biosensors, Pinnacle Financial Partners Inc, DuPont Nutrition & Biosciences, Johnson & Johnson, Koninklijke Philips NV, Nova Biomedical, Koch Industries, TDK Corp, Siemens AG |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.8% of the global biosensors market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa biosensors market is projected to lead the regional market in terms of revenue in 2030.
- Turkey is the fastest growing regional market in Middle East & Africa and is projected to reach USD 899.4 million by 2030.
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Biosensors Market Scope
Biosensors Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia biosensors market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biosensors market will help companies and investors design strategic landscapes.
Electrochemical was the largest segment with a revenue share of 71.65% in 2022. Horizon Databook has segmented the Saudi Arabia biosensors market based on thermal, electrochemical, piezoeletric, optical covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia biosensors market is expected to witness significant growth over the forecast period owing to an increase in the number of hospital beds and rise in government focus on healthcare. For instance, a group of investors is developing Riyadh Medical Village, which will consist of 60 outpatient clinics and 130-bed hospitals.
In addition, 117 new hospitals with 24,000 beds and three medical cities for military & security sectors are under construction in the country. The Saudi Arabian government has formulated a five-year development plan, which will help improve healthcare safety, encourage health establishments to opt for international accreditation, establish more healthcare centers, and review healthcare regulations.
In addition, increase in the number of patients suffering from type 2 diabetes, obesity, and blood pressure is expected to drive the market. According to International Diabetes Federation, in 2017, approximately 3,852,000 people were suffering from diabetes in Saudi Arabia, and this number is gradually increasing.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia biosensors market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia biosensors market size, by technology, 2018-2030 (US$M)
Saudi Arabia Biosensors Market Outlook Share, 2022 & 2030 (US$M)
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