Report Overview

Saudi Arabia Ultrasound System Market is flourishing owing to the technological improvements to modernize the country's current infrastructure and innovations in the fields of diagnostic as well as therapeutic ultrasound imaging along with the rising prevalence of target diseases that benefit from early disease diagnosis and the need for ultrasound imaging...

Saudi Arabia Ultrasound System Market - Industry Trends & Forecast Report 2028

Saudi Arabia Ultrasound System Market is predicted to grow at a CAGR of 6.2% during the forecast period (2022-2028), predominantly due to the increasing use of image-guided techniques and minimally invasive therapies by patients and healthcare professionals across the country. Additionally, the market for ultrasound systems has seen a significant transition from being utilized as a standard diagnostic modality for obstetrics and gynecology imaging to a therapeutic approach in the cardiology, nephrology, oncology, and pulmonology sectors. Moreover, this market's expansion is fueled by the region's advanced healthcare systems, the expansion of ambulatory care facilities, and emergency services. The demand for ultrasound systems in the region has also been increased by rising R&D spending and new product releases in the area.

Ultrasound System - Overview

Ultrasound is defined as a medical procedure that uses sound waves through a medical instrument to obtain images of internal organs. The technology used to obtain images of an unborn baby is an example of ultrasound. Moreover, an ultrasound machine generates images that allow organs within the body to be examined. The machine emits high-frequency sound waves that bounce off body structures. The waves are received by a computer, which then uses them to create a picture. Additionally, ultrasound is also much faster than CT and MRI scans and does not require any radiation. Ultrasounds can be used to monitor a baby. determining the due date by measuring the fetus's size. Also, some other purposes of these systems are breast ultrasound to detect cancer, Ultrasound of the testicles for cancer detection, Muscle and joint pain, abdominal pain, etc.

Saudi Arabia Ultrasound System Market Forecast and Trends

Growth Drivers

Growing Incidence of the Target Diseases

The prevalence of the target diseases and disorders is expected to encourage the use of efficient diagnostic and therapy techniques. Chronic and lifestyle diseases now carry a heavier weight than before. Moreover, the demand for ultrasound technologies in illness management is anticipated to rise throughout the forecast period because they are more affordable, safer, and provide early detection and treatment of target diseases. Additionally, there is a greater demand for healthcare services due to the rising prevalence of chronic diseases, which includes more surgeries, hospital admissions, and patient visits. Furthermore, the number of senior populations is growing nationwide, and they are more likely to have chronic illnesses. As a result, there is a noticeable increase in demand for ultrasound equipment for use in diagnostic and treatments.

Expanding Ultrasound Applications

Healthcare professionals and people all over the nation are embracing minimally invasive therapies and image-guided procedures more and more. From being a traditional diagnostic modality for OB/GYN imaging, ultrasonography has undergone a considerable transition to become a therapeutic approach for kidney stones, malignancies, and other clinical disorders. It can be predicted that such initiatives is expected to open up new opportunities for revenue growth for manufacturers in this industry. All these factors propel the growth of the Saudi Arabia Ultrasound System Market during the forecast period (2022-2028).

Growing Technological Advancements

Numerous innovations in the ultrasound systems market are attributed to advancements in portable ultrasound frameworks, such as the transmission of image data to PACS (picture archiving and communication system). Over the anticipated term, this development in technology further drives the market for ultrasound systems to continue growing profitably. Furthermore, thanks to smart screening and improved image resolution in non-invasive procedures, the integration of artificial intelligence (AI) with ultrasound systems and linked applications over digital screen surfaces, such as mobile phones or monitor screens, has accelerated the growth of the ultrasound systems market.

Restraints

Insufficient Skilled Workforce

The use of ultrasound equipment/systems requires the presence of trained staff. This is a limiting factor in many resource-poor societies where there is a shortage of competent skilled labor and ultrasound technology is only recently becoming more widely accepted. Furthermore, patients are less likely to choose automated ultrasound scanning over conventional modalities due to the lack of payment regulations and effective insurance coverage. This eventually limits market expansion. The limited growth of the ultrasound systems market across the country is caused by this, in addition to the high cost of ultrasound system equipment and maintenance. All these factors hinder the growth of the Saudi Arabia Ultrasound Systems Market.

Impact of COVID-19 on Saudi Arabia Ultrasound System Market

The COVID-19 pandemic's effects and the lockdowns it precipitated are evident in several areas, including the ultrasonography business. The overall growth of numerous sectors has been significantly impacted over the past year. The healthcare, biotechnology, and pharmaceutical industries are concentrating on streamlining their operations to serve the greatest number of patients and healthcare professionals, whereas industries like oil and petroleum, aviation, and mining are suffering a sharp decline in revenues. Moreover, the pandemic has harmed the ultrasound system market during the pandemic. The expansion of this market is being constrained by unfavorable modifications in legislation and guidelines. The closure of production facilities as a result of lockdowns, disruptions in supply chains, and difficulties in finding participants for clinical studies have all impeded the expansion of the ultrasound market as a whole.

Saudi Arabia Ultrasound System Market - By Technology

Based on the technology, the Saudi Arabia Ultrasound System Market is segmented into 2D Ultrasound, 3D Ultrasound, 4D Ultrasound, Therapeutic Ultrasound, and Doppler Ultrasound. Among these, 2D ultrasound segment accounts for the largest share in the Saudi Arabia Ultrasound System Market. This is due to the significant usage of 2D ultrasound in women's health, the availability of medical reimbursements for diagnostic ultrasound procedures in mature markets, ongoing technological advancements in the field of diagnostic ultrasound imaging, and the growing applications of emerging ultrasound techniques all contribute to this segment's large share.

Saudi Arabia Ultrasound System Market – By Product

Based on product, the Saudi Arabia Ultrasound System Market is segmented into Point-Of-Care Ultrasound Systems, Compact Ultrasound Systems, and Trolley Ultrasound Systems. Among these, the trolley ultrasound systems segment holds the largest market share owing to the increasing use of these systems in acute care settings and emergency care in hospitals and other healthcare facilities across key markets. All these factors boost the growth of the Saudi Arabia Ultrasound System Market during the forecast period (2022-2028).

Saudi Arabia Ultrasound System Market - By End-User

Based on end-user, the Saudi Arabia Ultrasound System Market is segmented into Ambulatory Care Centre’s, Hospitals, Surgical Centre’s, Maternity Centre’s, Research, and Academia. The hospital segment now has the biggest market share and is likely to continue to do so during the forecast period (2022-2028). The substantial share of this market can be ascribed to several factors, including the prevalence of ultrasound-based medical procedures in hospitals, the expansion of hospitals in key regions, and the increasing use of minimally invasive diagnostic and surgical techniques in these settings. This influences the hospital segment to dominate the market share in the upcoming years.

Competitive Landscape

The leading market players in the Saudi Arabia Ultrasound System Market are GE Healthcare, Bioventus, Mindray Saudi Arabia, Siemens Ltd Saudi Arabia, Philips Healthcare Saudi Arabia, Hitachi Medical Systems Saudi Arabia, Gulf Medical Co Ltd, Shimadzu Middle East & Africa FZE, Fujifilm-Middle East, and other prominent players.

The Saudi Arabia Ultrasound System Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• The Kingdom of Saudi Arabia has endorsed "Vision 2030" as a strategy for expanding its economy and territory. As stated in "Vision 2030," the Kingdom launched a national transformation program (NTP) in June 2016 to achieve this goal. The transformation of the healthcare system is one of the eight NTP themes. The Kingdom intends to modernize the healthcare system to meet its "Vision 2030" goal.

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Forecast – 2022 – 2028
Facts Covered	Revenue in USD Million
Product Service/Segmentation	By Technology, By Product, By End-User, By Applications
Key Players	GE Healthcare, Bioventus, Mindray Saudi Arabia, Siemens Ltd Saudi Arabia, Philips Healthcare Saudi Arabia, Hitachi Medical Systems Saudi Arabia, Gulf Medical Co Ltd, Shimadzu Middle East & Africa FZE, Fujifilm-Middle East, and other prominent players.

 

By Technology

• 2D Ultrasound
• 3D Ultrasound
• 4D Ultrasound
• Therapeutic Ultrasound
• Doppler Ultrasound

By Product

• Point-Of-Care Ultrasound Systems
• Compact Ultrasound Systems
• Trolley Ultrasound Systems

By End-User

• • Ambulatory Care Centre’s
  • Hospitals
  • Surgical Centre’s
  • Maternity Centre’s
  • Research and Academia

By Application

• • Radiology Applications
  • Obstetrics Applications
  • Urology Applications
  • Cardiology Applications
  • Vascular Applications
  • Orthopedic and Musculoskeletal Applications

1. Research Framework
   1. Research Objective
   2.  Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Saudi Arabia Ultrasound System Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Saudi Arabia Ultrasound System Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Technology
         1. 2D Ultrasound
         2. 3D Ultrasound
         3. 4D Ultrasound
         4. Therapeutic Ultrasound
         5. Doppler Ultrasound
      2. By Product
         1. Point-Of-Care Ultrasound Systems
         2. Compact Ultrasound Systems
         3. Trolley Ultrasound Systems
      3. By End-User
         1. Ambulatory Care Centre’s
         2. Hospitals
         3. Surgical Centre’s
         4. Maternity Centre’s
         5. Research and Academia
      4. By Application
         1. Radiology Applications
         2. Obstetrics Applications
         3. Urology Applications
         4. Cardiology Applications
         5. Vascular Applications
         6. Orthopedic and Musculoskeletal Applications
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership, etc.)
7. Impact of COVID-19 on Saudi Arabia Ultrasound System Market Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. GE Healthcare
   2. Bioventus
   3. Mindray Saudi Arabia,
   4. Siemens Ltd Saudi Arabia
   5. Philips Healthcare Saudi Arabia,
   6. Hitachi Medical Systems Saudi Arabia
   7. Gulf Medical Co Ltd
   8. Shimadzu Middle East & Africa FZE,
   9. Fujifilm-Middle East
   10. Other Prominent Players
9. Key Strategic Recommendations

 

Note: Financial information in case of non-listed companies will be provided as per availability

The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1        Saudi Arabia Ultrasound System Segmentation

Figure 2        Saudi Arabia Ultrasound System Market Value Chain Analysis

Figure 3        Porter’s Five Forces Analysis

Figure 4        Saudi Arabia Ultrasound System Market Size, By Value (USD Million), 2018-2028

Figure 5        Saudi Arabia Ultrasound System Market Share, By Technology, By Value, 2018-2028

Figure 6        Saudi Arabia Ultrasound System Market Share, By Product, By Value, 2018-2028

Figure 7        Saudi Arabia Ultrasound System Market Share, By End-User, By Value, 2018-2028

Figure 8        Saudi Arabia Ultrasound System Market Share, By Application, By Value, 2018-2028

Figure 9        Market Share Analysis, 2021

 

List of Tables

 

Table 1         Saudi Arabia Ultrasound System Market Size, By Technology, By Value, 2018-2028

Table 2         Saudi Arabia Ultrasound System Market Size, By Product, By Value, 2018-2028

Table 3         Saudi Arabia Ultrasound System Market Size, By End-User, By Value, 2018-2028

Table 4         Saudi Arabia Ultrasound System Market Size, By Application, By Value, 2018-2028

Table 5         Key Players and Their Offerings

Table 6         Competitive Benchmarking, By Operating Parameters

Table 7         Merger Acquisition, Partnership, Joint-Ventures etc.

Table 8         GE Healthcare Company Overview

Table 9         GE Healthcare Financial Overview

Table 10        Bioventus Company Overview

Table 11        Bioventus Financial Overview

Table 12        Mindray Saudi Arabia Company Overview

Table 13        Mindray Saudi Arabia Financial Overview

Table 14        Siemens Ltd Saudi Arabia Company Overview

Table 15        Siemens Ltd Saudi Arabia Financial Overview

Table 16        Philips Healthcare Saudi Arabia Company Overview

Table 17        Philips Healthcare Saudi Arabia Financial Overview

Table 18        Hitachi Medical Systems Saudi Arabia Company Overview

Table 19        Hitachi Medical Systems Saudi Arabia Financial Overview

Table 20        Gulf Medical Co Ltd Company Overview

Table 21        Gulf Medical Co Ltd Financial Overview

Table 22        Shimadzu Middle East & Africa FZE Company Overview

Table 23        Shimadzu Middle East & Africa FZE Financial Overview

Table 24        Fujifilm-Middle East Company Overview

Table 25        Fujifilm-Middle East Financial Overview