Saudi Arabia Ultrasound Devices Market Size & Outlook
Saudi Arabia ultrasound devices market, 2018-2030 (US$M)
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Saudi Arabia ultrasound devices market highlights
- The Saudi Arabia ultrasound devices market generated a revenue of USD 105.3 million in 2023 and is expected to reach USD 140.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.2% from 2024 to 2030.
- In terms of segment, diagnostic ultrasound devices was the largest revenue generating product in 2023.
- Therapeutic Ultrasound Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Ultrasound devices market data book summary
| Market revenue in 2023 | USD 105.3 million |
| Market revenue in 2030 | USD 140.2 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic ultrasound devices |
| Fastest growing segment | Therapeutic Ultrasound Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic Ultrasound Devices, Therapeutic Ultrasound Devices |
| Key market players worldwide | Koninklijke Philips NV, GE HealthCare Technologies Inc Common Stock, Siemens Healthineers AG ADR, Canon Inc, Mindray Medical International, Samsung BioLogics, FUJIFILM Holdings Corp, Konica Minolta Inc, Esaote |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.1% of the global ultrasound devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa ultrasound devices market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 211.3 million by 2030.
Diagnostic ultrasound devices was the largest segment with a revenue share of 83.48% in 2023. Horizon Databook has segmented the Saudi Arabia ultrasound devices market based on diagnostic ultrasound devices, therapeutic ultrasound devices covering the revenue growth of each sub-segment from 2018 to 2030.
Technological innovation is a key factor driving changes in the healthcare industry in the country at a significant rate. The country is focusing on the digitalization of healthcare by leveraging innovative technologies, such as AI, big data, and cloud computing.
There are currently 150 health-tech startups in the country. Such advancements are resulting in shorter hospital stays and rise in the number of surgical procedures, which, in turn, is driving the demand for ultrasound devices.
Moreover, major global players are opting for regulatory clearance to launch their products to cater to the growing demand for ultrasound devices in the country. The Saudi Arabian government has been actively supporting R&D in medical device sector. Funding initiatives and grants encourage the adoption of advanced imaging technologies and foster scientific advancements in the country.
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Ultrasound Devices Market Scope
Ultrasound Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia ultrasound devices market size, by product, 2018-2030 (US$M)
Saudi Arabia Ultrasound Devices Market Outlook Share, 2023 & 2030 (US$M)
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