Saudi Arabia Wearable Medical Devices Market Size & Outlook
Saudi Arabia wearable medical devices market, 2018-2030 (US$M)
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Saudi Arabia wearable medical devices market highlights
- The Saudi Arabia wearable medical devices market generated a revenue of USD 255.4 million in 2023 and is expected to reach USD 956.6 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 20.8% from 2024 to 2030.
- In terms of segment, diagnostic was the largest revenue generating product in 2023.
- Therapeutic is the most lucrative product segment registering the fastest growth during the forecast period.
Wearable medical devices market data book summary
| Market revenue in 2023 | USD 255.4 million |
| Market revenue in 2030 | USD 956.6 million |
| Growth rate | 20.8% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic |
| Fastest growing segment | Therapeutic |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic, Therapeutic |
| Key market players worldwide | Koninklijke Philips NV, Fitbit, Intel Corp, Garmin Ltd, Covidien, OMRON Corp, Polar Electro, Everist Health, UltraLinq Healthcare Solutions, Sotera Health Co Ordinary Shares |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.8% of the global wearable medical 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, Saudi Arabia wearable medical 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 627.6 million by 2030.
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Wearable Medical Devices Market Scope
Wearable Medical Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia wearable medical devices 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 wearable medical devices market will help companies and investors design strategic landscapes.
Diagnostic was the largest segment with a revenue share of 60.96% in 2023. Horizon Databook has segmented the Saudi Arabia wearable medical devices market based on diagnostic, therapeutic covering the revenue growth of each sub-segment from 2018 to 2030.
The healthcare system in Saudi Arabia is developing due to consistent efforts by the government. Saudi Arabia is a lucrative market in the Middle East for medical devices, hence exhibiting high growth potential for wearable devices as well.
The region is technology-driven and focuses on introducing modern methods for diagnosis and treatment in the healthcare industry. Saudi Arabia has a decent healthcare spending. According to WHO, healthcare spending per capita in Saudi Arabia was USD 1,484.6 in 2018.
Furthermore, the population of Saudi Arabia was 34,813,871 in 2020, accounting for 1.59% increase from 2019. Moreover, according to World Bank, geriatric population accounted for ~3.41% of the total population in Saudi Arabia in 2019, and it was ~3.31% in 2018.
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Our clientele includes a mix of wearable medical devices market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia wearable medical devices market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia wearable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia wearable medical devices market size, by product, 2018-2030 (US$M)
Saudi Arabia Wearable Medical Devices Market Outlook Share, 2023 & 2030 (US$M)
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