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(CityRegions.Com, June 05, 2018 ) The Saudi Arabia hospital supplies market is estimated to register a CAGR of approximately 7% during the forecast period, 2018 to 2023. Hospital medical equipment and supplies include various devices, tools, instruments, and medical consumables that are used in hospitals and healthcare establishments.
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Key Developments in the Market
January 2018: Agilent Technologies acquired Luxcel Biosciences. It is a developer of real-time fluorescence plate-reade- based in-vitro cell assay kits.
October 2017: Abbott completed acquisition of Alere Inc. It is a global manufacturer of rapid point-of-care diagnostic tests.
July 2017: Agilent Technologies acquired molecular and sample barcoding patent portfolios of Population Genetics Technologies.
Major Players: BAXTER INTERNATIONAL, B BRAUN, JOHNSON & JOHNSON, MEDTRONIC, SMITH & NEPHEW, 3M HEALTHCARE, STRYKER CORPORATION, BECTON DICKINSON, GE HEALTHCARE amongst others.
Increasing Awareness about Hospital-Acquired Infections (HAIs)
The rise in incidences of infections and growing antimicrobial resistance in pathogens of infection have made hospital-acquired infections more serious than ever. Earlier, in Saudi Arabia, there were no training programs for healthcare workers on hospital–acquired infections. This was critical as improper handling of drugs and test specimens by healthcare workers is recognized as the major cause of propagation of infections in a healthcare setting. With proper knowledge and training, healthcare workers can help in reducing incidences related to hospital-acquired infections. To increase the awareness about HAIs, the government has also undertaken initiatives to educate the general public through various campaigns. Overall, with increased awareness about HAIs, the hospital supplies will be used prudently and that will drive the market growth.
Apart from growing awareness about HAIs, the growth of the hospital supplies market in Saudi Arabia is expected to be driven by high unmet medical needs, growth in number of hospitals, and increasing incidences of communal diseases.
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Emergence of Home Care Services
Home care services are on a rise in Saudi Arabia. For the disorders that are related to old age, the most cost-effective option is that of home care. A home care setting ensures that the patients and their family members are in proximity to each other. Also, the healthcare cost in a home care setting is much lower compared to hospital stay. Therefore, with the emerging interest in home care services, the hospital supplies market will face restraints as more patients will opt for home-based setting for palliative care, instead of going for a hospital stay. Other factors, like decline in private health insurance, increasing dependency on imports, and stringent regulatory policies involving procurement, use and disposal of hospital supplies are expected to impede the market growth.
Table of Content
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Future of the Market
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