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Saudi Arabia Endoscopy Devices Market is expected to reach US$ 746.18 million by 2030

Saudi Arabia Endoscopy Devices Market is growing at a CAGR of 5.9% to reach US$ 746.18 million by 2030 from US$ 470.79 million in 2022 by Product, Application, and End User.

By The Insight Partners

Endoscopes to Dominate Saudi Arabia Endoscopy Devices Market Based on Product During 2022–2030

According to our new research study on "Saudi Arabia Endoscopy Devices Market Size and Forecast (2020–2030), Country Share, Trend, and Growth Opportunity Analysis," the Saudi Arabia endoscopy devices market size is projected to grow from US$ 470.79 million in 2022 to US$ 746.18 million by 2030; it is anticipated to record a CAGR of 5.9% from 2022 to 2030. Key factors driving the market growth include the surging preference for minimally invasive surgeries and the increasing prevalence of cancer. However, risks of infections associated with endoscopic procedures hinder the market growth.

The endoscopy devices market in Saudi Arabia is undergoing significant transformation owing to factors such as developments in healthcare infrastructure, rapidly growing medical tourism, and acceptance and adoption of advanced medical technologies. The private sector with rising investments has been playing an essential role in the Saudi healthcare system. Efforts from this sector help in the timely delivery of healthcare services to numerous patients. The Saudi Vision 2030 program of the government of Saudi Arabia aims to reduce its dependence on the oil & gas sector and diversify its economy by promoting the growth of other sectors, including healthcare. Moreover, with a projected investment of US$ 13.8 billion by 2030 to improve medical facilities, the adoption of advanced surgical equipment and medical devices is likely to increase in the country in the future.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00034167

The rising burden of gastrointestinal disorders, including irritable bowel syndrome (IBS), inflammatory bowel disease (IBD), and gastrointestinal cancers, propels the need for advanced endoscopy devices for precise diagnosis, screening, and therapeutic interventions. According to a study published in the National Center for Biotechnology Information (NCBI) database in 2023, the prevalence of IBS in the Saudi Arabian general population is ~17.5%. The “Cardiovascular Disease: A Public Health Priority” report published in March 2022 by the Saudi Health Council states that more than 30% of adults (age 18 or above) in Saudi Arabia are at risk of cardiovascular diseases; ~42% of all deaths in the country are attributed to CVD. Further, CVD cases in the country are projected to increase by ~480,000 by 2035. Thus, the high prevalence of CVDs is likely to fuel the demand for cardiovascular endoscopy devices in Saudi Arabia in the future.

The Saudi Food and Drug Authority (SFDA) plays a pivotal role in regulating medical devices, including endoscopy devices, ensuring adherence to international standards and certifications, thus fostering confidence in the safety and efficacy of endoscopic technologies. Similarly, Saudi Arabia's commitment to enhancing healthcare infrastructure, including efforts such as the construction of state-of-the-art hospitals, specialty clinics, and medical centers, triggers the demand for advanced endoscopy devices that support a wide range of diagnostic and interventional services.

Boston Scientific Corp, Medtronic Plc, Stryker Corp, Johnson & Johnson, Karl Storz SE & Co KG, Olympus Corp, Ambu AS, Conmed Corp, B Braun SE, and PENTAX Medical are among the key companies operating in the Saudi Arabia endoscopy devices market. These companies have been implementing various strategies that contribute to their growth and lead to groundbreaking developments in the market. The companies have utilized both organic strategies (such as launches, expansion, and product approvals) and inorganic strategies (such as mergers & acquisitions, partnerships, and collaborations). In October 2023, Olympus Corp announced the launch of the next-generation EVIS X1 endoscopy system in the market. The company had plans to showcase and demonstrate the product during October 22–24, 2023, at the yearly meeting of the American College of Gastroenterology (ACG) in Vancouver, Canada. With the amazing new tools available for GI tract visualization, doctors will be able to make better observations and assist their patients more effectively.

In September 2023, Ambu expanded its gastroenterology portfolio with the announcement of the Ambu aScope Gastro Large and Ambu aBox 2, two new larger gastroscopy solutions that will be available in Europe. In addition to being the first gastroscope in the world with a 4.2 mm operating channel, which enables gastroenterologists to achieve strong suction performance during procedures in ICUs and endoscopy units, the Ambu aScope Gastro Large is the first endoscope ever manufactured of bioplastic materials.

The report segments the Saudi Arabia endoscopy devices market as follows:

The Saudi Arabia endoscopy devices market, by product, is segmented into endoscopes, visualization systems, accessories, and other endoscopy devices. The endoscopes segment held the largest share of the market in 2022, and the visualization systems segment is anticipated to register the highest CAGR in the market during 2022–2030. An endoscope is used in minimally invasive surgical procedures and can be inserted into the openings of the body. The device is used to visually examine internal organs and accordingly diagnose the medical conditions. However, some are also used for small surgical tasks due to their fine, flexible designs, which help reduce cost, time, and physical trauma associated with standard surgical procedures. Most of the endoscopes are similar in construction. The endoscopes are named as per the location of their use. For example, a nephroscope is used for the endoscopy of the kidney, an arthroscopy is used for joints, and a laparoscope for the endoscopy of the abdomen or pelvis. There are various types of endoscopes based on their structure, such as rigid, flexible, capsule, and robot-assisted endoscopes.

Based on application, the Saudi Arabia endoscopy devices market is segmented into gastroscopy, laparoscopy, arthroscopy, urology endoscopy, bronchoscopy, laryngoscopy, otoscopy, and others. The gastroscopy segment held the largest share of the market in 2022. However, the laparoscopy segment is expected to register the highest CAGR in the market from 2022 to 2030. Gastroscopy, also known as upper endoscopy, involves examining the upper gastrointestinal tract, which includes the stomach, esophagus, and duodenum (the beginning part of the small intestine). It is used to diagnose conditions such as ulcers, tumors, inflammation, and gastroesophageal reflux disease (GERD). Laparoscopy, commonly referred to as minimally invasive surgery, involves using a laparoscope to visualize the abdominal or pelvic cavities for diagnostic or surgical purposes. This approach offers reduced incision size, faster recovery, and lower risk of complications compared to traditional open surgeries.

Based on end user, the Saudi Arabia endoscopy devices market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment held the largest share of the market in 2022 and the same segment is expected to register the highest CAGR in the market from 2022 to 2030. Hospitals encompass a wide spectrum of medical facilities, ranging from community hospitals to large academic medical centers. They serve as major end users of endoscopy devices. The demand for endoscopy devices within hospital settings is driven by factors such as comprehensive care delivery, inpatient and outpatient services, and advanced procedures and interventions.

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