Saudi Arabia Coronary Stents Market Analysis

Saudi Arabia Coronary Stents Market Analysis

$ 3999

Saudi Arabia's Coronary Stents Market is expected to witness growth from $192 Mn in 2022 to $312 Mn in 2030 with a CAGR of 6.25% for the forecasted year 2022-30. In Saudi Arabia, people are becoming more aware of cardiovascular health and are acting more proactively to seek treatment for heart disease. This is increasing demand for coronary stents as patients and medical professionals look for efficient CAD treatments. The market is segmented by type, mode of delivery, materials, and end user. Some key players in this market include Al Madar Medical, Aljeel Medical, Alhammad Medical, B. Braun, Abbott Laboratories, Biotronik, Medtronic, GE Healthcare, Boston Scientific, Transmedia Healthcare, and Philips Healthcare.

ID: IN10SAMD006 CATEGORY: Medical Devices GEOGRAPHY: Saudi Arabia AUTHOR: Jigyasu Bhandari

Buy Now

Saudi Arabia Coronary Stents Healthcare Market Executive Analysis

Saudi Arabia's Coronary Stents Market is expected to witness growth from $192 Mn in 2022 to $312 Mn in 2030 with a CAGR of 6.25% for the forecasted year 2022-30. The budget for Saudi Arabia in 2023 would spend 4.5% less on healthcare than it did in 2022. Health spending will account for 5.5% of GDP in 2023. Men can anticipate living to an average age of 75.33 in Saudi Arabia, while women can anticipate living to an average age of 78.56. In 2022, out-of-pocket costs as a percentage of total health spending in Saudi Arabia were 16.93%.

In Saudi Arabia, coronary stents are frequently used to treat coronary artery disease, especially when dietary changes and drug therapy are insufficient to manage symptoms or avert consequences. Coronary stents are little tubes with a mesh-like surface that are inserted into blocked or restricted coronary arteries to increase blood flow to the heart muscle. By widening or unblocking restricted or obstructed coronary arteries, coronary stents are primarily used to increase blood flow to the heart muscle. This can lessen chest pain, stop heart attacks, and enhance heart health in general. The various types of coronary stents include drug-eluting stents, which release medication to aid in preventing blockages from recurring. As a result, Saudi Arabian healthcare professionals can customise a patient's care to meet their unique needs and risk factors.

Saudi Arabia Coronary Stents Market Analysis

Market Dynamics

Market Growth Drivers

In Saudi Arabia, people are becoming more aware of cardiovascular health and are acting more proactively to seek treatment for heart disease. This is increasing demand for coronary stents as patients and medical professionals look for efficient CAD treatments. To improve access to medical services and healthcare quality, the Saudi Arabian government has been spending more money on healthcare. This includes spending on medical technology, infrastructure, and tools like coronary stents. Due to factors like a sedentary lifestyle, poor diets, and an ageing population, the prevalence of CAD in Saudi Arabia is significant and is predicted to rise. The need for coronary stents is projected to grow as more people are given CAD diagnoses.

Market Restraints

Price sensitivity is common in Saudi Arabia, and individuals and healthcare professionals frequently opt for less expensive options. Due to this, it may be challenging for manufacturers to market costly coronary stents, especially if they do not clearly outperform less expensive alternatives. It may be difficult for manufacturers to properly advertise their products in Saudi Arabia due to the country's restrictive reimbursement regulations for coronary stents. Higher-priced coronary stents may become less popular as a result of this. Market share is very competitive on the Saudi Arabian coronary stents market, where a number of top firms and regional producers compete. It may be difficult for new competitors to gain traction in the market as a result.

Competitive Landscape

Key Players

  • Al Madar Medical (SA)
  • Aljeel Medical (SA)
  • Alhammad medical (SA)
  • Biotronik
  • Boston Scientific
  • B. Braun
  • Abbott Laboratories
  • GE Healthcare
  • Medtronic
  • Philipps Healthcare

Healthcare Policies and Regulatory Landscape

The Saudi Food and Drug Authority (SFDA), which is in charge of overseeing medical devices in the nation, controls the coronary stent market there. The SFDA is an independent regulatory organisation that reports to the Ministry of Health and is in charge of guaranteeing the efficacy and safety of medical devices sold on the market in order to protect the public's health. The Saudi Vision 2030, which places a focus on lowering the prevalence of non-communicable diseases including coronary artery disease, is one policy and programme the government has put into place to boost public health. The government has also put in place a nationwide cardiovascular screening programme, which is intended to find patients who have risk factors for heart disease and offer early intervention.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Coronary Stents Market Segmentation

By Type (Revenue, USD Billion):

The three main categories of coronary stents are bare-metal, drug-eluting, and bioabsorbable, depending on their nature. The segment for bioabsorbable stents is anticipated to increase at the fastest rate over the forecast period. The benefits that are encouraging the use of bioabsorbable stents include a decrease in problems including thrombosis and inflammation, the cSaudi Arabiaity to restore normal vasomotion, and an improvement in aberrant endothelial function. However, in the upcoming years, the expansion of this market segment is anticipated to be constrained by the high cost of bioabsorbable stents.

  • Bare-metal Stents
  • Drug-eluting Stents
  • Bioabsorbable Stents

By Mode of Delivery (Revenue, USD Billion):

The market is divided into self-expanding and balloon-expandable stents according to delivery method. Because of the high use of these stents, rising research initiatives to advance the technology, and rising regulatory approvals for balloon-expandable stents, the balloon expandable stents segment is anticipated to increase at the greatest CAGR over the projection period.

  • Balloon-expandable Stents
  • Self-expanding Stents

By Materials (Revenue, USD Billion):

The coronary stent market is divided into metallic (cobalt chromium, platinum chromium, nickel-titanium, and stainless steel) and other stents according to the material. The market for other stents is anticipated to experience the largest CAGR growth during the projection period. The rapid expansion of this market can be ascribed to the increased use of polymers and copolymers in the production of bioabsorbable stents.

  • Metallic Stents
  • Cobalt-Chromium
  • Platinum Chromium
  • Nickel Titanium
  • Stainless Steel
  • Other Stents

By End User (Revenue, USD Billion):

The coronary stent market is divided into hospitals, cardiac centres, and ambulatory surgical centres based on the end user. According to predictions, the hospital sector will control the market in 2016. This is primarily caused by hospitals using a lot of coronary stents.

  • Hospitals
  • Cardiac Centers
  • Ambulatory Surgical Centers

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:



Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.



Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.

We value your inquiry and offer free customization with every report to fulfil your exact research needs.

This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 12 October 2023
Updated by: Shivam Zalke

Related reports (by category)

Related reports (by geography)

subscribe to our newsletter