The Saudi Arabian diagnostic imaging equipment market is projected to grow at a compound annual growth rate of 7.9% to reach $3.11 billion in revenues by 2020, according to a report from market research firm Mordor Intelligence.
Growth is being driven by factors such as an increase in the aging population: 3.1% are older than 60, and this percentage is expected to double in the next few years, Mordor said. While 75% of healthcare in the country relies on public investment, this trend is changing as the government is encouraging privatization and supporting public-private partnerships in healthcare, according to the company.
Factors limiting growth include the lack of regulatory policies and the high cost of equipment, Mordor said.
The x-ray market is the largest imaging sector in Saudi Arabia, but the ultrasound market is also growing due to the widespread utility of the technology and lower cost compared with other imaging applications, Mordor said.
