Market Trends of Saudi Arabia Cardiovascular Devices Industry
The Electrocardiogram (ECG) Segment Holds the Majority Share of the Market, and it is Expected to Do the Same Over the Forecast Period
- An electrocardiogram (ECG), also known as an EKG, is a non-invasive diagnostic test that measures the heart's electrical activity. The demand for ECG devices is increasing in Saudi Arabia due to the high prevalence of cardiovascular diseases and their underlying causes, such as obesity and high blood pressure, and advancements in ECG monitoring technology.
- According to data published by the University Center for Obesity Research at King Saud University in 2022, the obesity rates in Saudi Arabia were alarmingly high, with 23.6% of women and 14% of men being classified as obese. This and other cardiovascular risk factors have increased the country's demand for ECG devices.
- The high number of different cardiac procedures in the country also creates the need for ECG equipment for monitoring purposes, driving the segment's growth. For instance, the 2022 statistical yearbook by the Ministry of Health, Saudi Arabia, reported that the rate of open heart surgery performed per 100,000 pilgrims in 2022 was 4.9 in Saudi Arabia, which increased by 69% in the last five years. Such an increasing number of procedures propels the growth of the market segment.
- The high proportion of the aging population in the country also contributes to the utilization of ECG for diagnosis and monitoring purposes of cardiac health, propelling the segment's growth.
- Furthermore, the initiative taken by the supplier for the launch of advanced products in the country is also propelling the growth of the segment. For instance, in June 2023, Zahrawi Group signed a partnership agreement with AppSens for the distribution of ECG247 in Saudi Arabia. It is a smart cardiac sensor used in hospitals, heart specialist clinics, and general practitioners for cardiac rhythm monitoring.
- Thus, the increasing number of cardiac procedures and the high burden of the geriatric and obese population in the country create the need for ECG devices, driving the growth of the segment.
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Catheters are Expected to Witness Healthy Growth in Coming Years
- Cardiac catheterization is a medical procedure used to diagnose or treat certain heart conditions by guiding a thin, flexible tube (catheter) through a blood vessel to the heart. In Saudi Arabia, the increasing burden of cardiovascular diseases has led to a rise in demand for cardiac catheters, which is expected to drive segment growth.
- The high number of cardiac catheterization procedures performed for pilgrims in the country also revealed the high utilization of products in the country, which drives the market growth.
- For instance, according to the statistical year 2022 data by the Ministry of Health, Saudi Arabia, the rate of cardiac catheterization procedures performed was 57.3 per 100,000 pilgrims in 2022, which increased by 34% in the last five years. Such an increasing number of procedures propels the market's growth.
- Moreover, the country's hospital system has undergone a significant transformation, leading to an increased number of surgeries being performed. The availability of improved hospital services has also driven up demand for cardiovascular surgeries, resulting in a surge in demand for cardiac catheters. In August 2022, the Heart Center at Prince Mohammed bin Nasser Hospital in Jazan reported performing over 1,400 catheterization and cardiac surgeries during the year's first half. With such a high number of surgeries being performed in hospitals across Saudi Arabia, the segment is poised for significant growth during the forecast period.
- The increasing number of centers approved to perform cardiac catheterization procedures in the country also boosts the growth of the market segment. For instance, in June 2024, Al-Modawat Specialized Medical Co. received a license for its cardiac catheterization unit. Such approval of health facilities creates the demand for devices that are needed in the procedure, driving the growth of the segment.
- Thus, owing to the increasing number of healthcare facilities performing cardiac catheterization procedures and the growing number of procedures, the demand for cardiac catheters is expected to increase in the country over the forecast period.
