Saudi Arabia: Medical Instruments Market 2024

Medical Instruments Market Size in Saudi Arabia

The Saudi medical instruments market declined slightly to $X in 2022, waning by -2.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Medical Instruments Exports

Exports from Saudi Arabia

In 2022, overseas shipments of instruments used in medical sciences decreased by -15.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 120%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, medical instruments exports declined markedly to $X in 2022. Overall, exports showed a noticeable curtailment. The growth pace was the most rapid in 2020 when exports increased by 692% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Bahrain (X tons) was the main destination for medical instruments exports from Saudi Arabia, with a 61% share of total exports. Moreover, medical instruments exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The third position in this ranking was held by Kuwait (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Bahrain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+12.0% per year) and Kuwait (-23.2% per year).

In value terms, the Netherlands ($X) remains the key foreign market for instruments used in medical sciences exports from Saudi Arabia, comprising 74% of total exports. The second position in the ranking was held by Bahrain ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-15.2% per year) and the United Arab Emirates (+14.1% per year).

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, dropping by -6.2% against the previous year. Over the period under review, the export price, however, continues to indicate buoyant growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 260%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Saudi Arabia

In 2022, purchases abroad of instruments used in medical sciences was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 28% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, medical instruments imports declined to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 28% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of medical instruments imports to Saudi Arabia, with a combined 37% share of total imports. France, Germany, Italy, the UK, Egypt, Vietnam, Singapore, the United Arab Emirates, Spain and Japan lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +52.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and Germany ($X) constituted the largest medical instruments suppliers to Saudi Arabia, together accounting for 47% of total imports. The United Arab Emirates, Italy, China, Japan, Vietnam, the UK, France, Singapore, Spain and Egypt lagged somewhat behind, together comprising a further 33%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +58.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, waning by -6.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 17%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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