Saudi Arabia Cardiovascular Devices Market Size

Saudi Arabia Cardiovascular Devices Market Analysis

The Saudi Arabia Cardiovascular Devices Market size is estimated at USD 0.76 billion in 2024, and is expected to reach USD 1.21 billion by 2029, growing at a CAGR of 9.81% during the forecast period (2024-2029).

• The outbreak of COVID-19 significantly impacted the cardiovascular devices market in Saudi Arabia. The limited availability of ICU beds and ventilation sites due to the postponement of elective and complex cardiac surgeries, as well as a shortage of healthcare workers and sick healthcare staff, has adversely affected the market.
• A study conducted by the National Institute of Health and published in April 2021 revealed that COVID-19 patients were highly prevalent in cardiovascular diseases, which could increase the adoption of cardiovascular devices among the COVID-19 patient population.. As a result, the market is expected to gain traction in the coming years.
• Moreover, the growing burden of cardiovascular diseases and rapid technological advancements are driving the market's growth. A study published by the National Institute of Health in August 2021 found that the incidence of stroke in Saudi Arabia was 43.8 per 100,000. The major risk factors identified in the study were personal history of hypertension, stroke, and dyslipidemia. However, there is a low level of awareness regarding cardiovascular diseases and their risk factors, resulting in a higher prevalence of the disease. The growing burden of cardiovascular diseases is expected to boost the market's growth over the analysis period.
• The launch of specialized clinics focused on treating cardiovascular diseases in the country is expected to manage the mortality rate associated with this disease and assist in market growth. For example, according to data published by the Ministry of Health, in February 2021, the King Abdulaziz Specialist Hospital in Taif's Cardiac Catheterization Unit completed 3,337 procedures, including lifesaving, emergency, and inpatient cases in 2020. The hospital also completed 1,338 imaging and sound wave procedures, 614 cardiac catheterizations, implanted 29 pacemakers, and placed 2 heart valves. These factors are likely to contribute to the market's growth shortly.
• However, the high cost of instruments and procedures may restrict the number of people in the country undergoing diagnosis and treatment for cardiovascular diseases, which is expected to restrain the market growth during the study period.