Saudi Arabia Dominates Middle East Medical Equipment Market with $5 Billion Revenue

Kokcha News Agency: Saudi Arabia has successfully transformed its medical equipment market into the largest in the Middle East, with revenues surpassing $5 billion. This achievement comes as the kingdom intensifies its healthcare investments and implements extensive plans for self-sufficiency in the medical sector.

According to Al-Khaleej Online, the Saudi Medical Devices Manufacturers Association reported that the country’s medical equipment and healthcare supplies market has grown to approximately 19 billion Saudi Riyals (equivalent to $5 billion), making it the largest in the region.

Focus on Local Production
Mohammed Al-Suwaid, Vice President of the Saudi Medical Devices Manufacturers Association, emphasized that Saudi Arabia is striving to achieve higher levels of self-sufficiency and pharmaceutical security by increasing domestic production of critical products such as masks, gloves, ventilators, medical solutions, and drugs.

Al-Suwaid highlighted several factors driving the growth of the medical equipment industry, including rising domestic demand, population growth, and government investments exceeding 245 billion Saudi Riyals (approximately $65.3 billion) in healthcare infrastructure development.

Goals for 2030
The kingdom aims to increase the share of locally manufactured medical products to 70% by 2030, as part of its Vision 2030 economic diversification plan. Al-Suwaid noted that government support and incentives for private companies in the healthcare sector are crucial to achieving this goal.

The Saudi Medical Devices Manufacturers Association also plans to encourage quality investments and promote the export of national products to regional and international markets, positioning itself as a key developmental and regulatory force in the industry.