Saudi Arabia’s Cosmetic Implants Market | Opportunities and Upcoming Projects |
Market Entry- Cosmetic Implants Market in Saudi Arabia: Analysis of Growth, Trends and Progress (2016 - 2021)

PUBLISHED

DEC 2017

Market Entry- Cosmetic Implants Market in Saudi Arabia: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

As per the findings of the international society of plastic and aesthetic surgeons (ISAPS), in 2013, more than 23 million individuals underwent surgical and non-surgical cosmetic procedures worldwide. The rising number of cosmetic surgeries conducted around the world is the key factor boosting the global cosmetic implants market. The high cost of surgical devices and procedures and no guarantee of safety impede the growth of the market. Implant devices comprise approximately 60% of the surgical cost depending upon the type, size, and the manufacturer. At present, these devices do not cater to low-income groups. Implant devices such as buttock, dental, penile, breast, and facial implants (especially cheek and jaw) come with a risk of malfunction. To put this in perspective, during the post-approval safety studies performed by the U.S. FDA in 2009, Allergan Inc. reviewed 2,674 breast implant devices, out of which, approximately 900 (33.8%) were reported to have openings in the implant shell. Implant rupture is considered as one of the restraining factors to the growth of the breast implant market. Periodic up gradation of implant devices used in surgeries can lower the chances of malfunction, thus propelling the growth of the cosmetic implant market globally. Technological advancements shall open new avenues for the market, which shall cut down the cost of implant devices. Institut Straumann AG, Nobel Biocare Holding Inc., and Dentsply International Inc. cumulatively represented more than 49% of the market in 2013. Trends in the market are also influenced by other players such as Aesthetic and Reconstructive Technologies (AART) Inc., 3M Health Care, Allergan Inc., Implantech Associates Inc., GC Aesthetics, Mentor Worldwide LLC, Spectrum Designs Medical, Sientra Inc., and Zimmer Holdings Inc.

About the Geography

Saudi Arabia is a monarchical state with large oil reserves and is one of the leading members of OPEC. It is an oil-based economy and the government controls most major economic activities. Due to the low oil prices, the government is focusing on expanding its healthcare, education, nuclear, construction, and tourism industries. It is the third largest recipient of FDI in western Asia.

Saudi Arabia has a stable economy, a large local market with a high spending capacity, sound infrastructure, and a well-regulated banking system. Political and social tensions along with the policy of “Saudisation”, which favors domestic labor, have been major obstacles to FDI. Laws regarding intellectual property are not transparent and the laws enforce segregation of sexes in most business and social settings. To attract investors, the government recently announced the opening of the retail and wholesale sectors to 100% foreign ownership. Extensive privatization programs and controlled inflation add to the reasons for FDI. Investors can form joint stock companies, branch offices, and limited liability partnerships only, as a foreigner is not allowed to conduct business as a sole proprietor in Saudi Arabia.

The government also encourages companies to hire local women to improve workplace sex ratios.

                                                                                     

Component Name

Unit

GDP (USD billion)

646

GDP Annual Growth Rate

1.4

GDP Per Capita

21313

Unemployment Rate

5.6

Inflation Rate

3.3

Consumer Price Index (CPI)

138

Interest Rate

2

Balance of Trade (USD billion)

4.344

Business Confidence

3

Manufacturing PMI (Index Points)

55.3 Index Points

Ease of Doing Business

82

Competitiveness Rank

36

Corruption Rank

48

Consumer Confidence

104

Consumer Spending (USD billion)

68.807

                                             Corporate Tax Rate         

20

            

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Cosmetic Implants Market (USD millions)

                4.1 By Sources

                4.2 By Products

                4.3 By End Users

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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