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Saudi Arabia Neurology Devices Market Size (2024 - 2029)

The Saudi Arabian neurology devices market is anticipated to experience growth, driven by factors such as the rising incidence of neurological disorders, significant investments by private entities, and increased research and development in neuro therapies. The market size is influenced by the aging population, which is more susceptible to neurodegenerative conditions, thereby boosting demand for neurology devices. However, the market's expansion is constrained by the high cost of devices and stringent regulatory requirements. The COVID-19 pandemic notably impacted the market by reducing hospital visits, although it also accelerated the adoption of telemedicine for neurological issues.

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Market Size of Saudi Arabia Neurology Devices Industry

Saudi Arabia Neurology Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.10 %
Market Concentration Medium

Major Players

Saudi Arabia Neurology Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Saudi Arabia Neurology Devices Market Analysis

The Saudi Arabian neurology devices market is expected to register a CAGR of 7.1% during the forecast period.

The COVID-19 pandemic had a significant impact on the neurology devices market in Saudi Arabia, which was majorly due to the restrictions on non-emergency visits to hospitals. As per a study published by the National Institute of Health in December 2020, there was an approximately 24% reduction in the number of visits for common neurological symptoms in hospitals across Saudi Arabia. With the decline in hospital visits, the growth of the neurology device segment was hampered significantly. With the increasing burden of COVID-19 across the country in 2020-2021, many hospitals acquired telemedicine facilities for neurological issues. The pandemic transformed neurology outpatient clinics from strictly traditional in-person, office-based contacts to an almost entirely virtual system of direct-to-patient appointments. Hence, the market for neurology devices was majorly hampered due to COVID-19 in Saudi Arabia.

Key factors propelling the growth of the market are the increasing incidence of neurological disorders, huge investments by private players in neurological devices, an increase in R&D in the field of neuro therapies, and the growing aging population.

According to the World Ageing Report, in Saudi Arabia, the proportion of the population aged 65 years and above is expected to increase from 1.169 million (3.4%) in 2020 to 7.681 million (17.2%) by 2050. Similarly, in the United Arabs Emirates, the population aged 65 years and above is expected to increase from 0.113 million (1.2%) in 2020 to 1.679 million (16.1%) by 2050. Since this growing geriatric population is more prone to neurodegenerative disorders, such as dementia and cognitive disorders, the growth of the market studied is expected to increase in the future.

However, the high cost of devices and stringent regulations and guidelines for new devices restrain the market growth.

Saudi Arabia Neurology Devices Industry Segmentation

As per the scope of the report, neurological devices are medical devices that help to diagnose, prevent, and treat a variety of neurological disorders and conditions, such as Alzheimer's disease, Parkinson's disease, major depression, and traumatic brain injury. The Saudi Arabian neurology devices market is segmented by type of device (cerebrospinal fluid management devices, interventional neurology devices, neurosurgery devices, neurostimulation devices, and other types of devices). The report offers all values in USD million for the above segments.

By Type of Device
Cerebrospinal Fluid Management Devices
Interventional Neurology Devices
Neurosurgery Devices
Neurostimulation Devices
Other Types of Devices
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Saudi Arabia Neurology Devices Market Size Summary

The Saudi Arabian neurology devices market is poised for significant growth, driven by an increasing incidence of neurological disorders and substantial investments from private entities in neurotherapies. The market's expansion is further supported by a growing aging population, which is more susceptible to neurodegenerative conditions such as dementia and cognitive disorders. The COVID-19 pandemic initially hindered market growth due to reduced hospital visits and a shift to telemedicine, but it also accelerated the adoption of virtual healthcare solutions. Despite challenges such as high device costs and stringent regulatory requirements, the market is expected to benefit from advancements in neurostimulation devices, including sacral nerve and deep brain stimulation technologies, which are effective in treating various neurological and neuropsychiatric disorders.

The competitive landscape of the Saudi Arabian neurology devices market features several key players, including Stryker Corporation, Medtronic, Abbott Laboratories, and Siemens Healthineers, among others. These companies are actively engaging in strategies such as collaborations, business expansions, and product development to strengthen their market positions. The formation of the Health Holding Company by the Saudi Ministry of Health in 2022, aimed at providing specialized cardiology and neurology services, underscores the growing focus on enhancing healthcare infrastructure in the region. As the prevalence of conditions like migraine and dementia rises, the demand for neurofeedback systems and other neurology devices is expected to increase, further propelling market growth.

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Saudi Arabia Neurology Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Incidence of Neurological Disorders and Growing Geriatric Population

      2. 1.2.2 Increase in Research and Development in Neurotherapies

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Equipment

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size - Value in USD million)

    1. 2.1 By Type of Device

      1. 2.1.1 Cerebrospinal Fluid Management Devices

      2. 2.1.2 Interventional Neurology Devices

      3. 2.1.3 Neurosurgery Devices

      4. 2.1.4 Neurostimulation Devices

      5. 2.1.5 Other Types of Devices

Saudi Arabia Neurology Devices Market Size FAQs

The Saudi Arabia Neurology Devices Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)

Stryker Corporation, Medtronic PLC, Abbott Laboratories, Siemens Healthineers and Nihon Kohden Corporation are the major companies operating in the Saudi Arabia Neurology Devices Market.

Saudi Arabia Neurology Devices Report Snapshots

Saudi Arabia Neurology Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)