Saudi Arabia Defibrillators Market: Initiatives Taken by Government and Private Players to Drive Market at 8.3% CAGR during 2014-2020
Heart disease is a serious medical issue that is rapidly rising to the top of the list of most common medical disorders. There are many factors that are piling on to create the high number of people that are being diagnosed with heart disease. One of the core regions that could soon become a major one for heart patients is Saudi Arabia, which is why the nation is looking to ramp up its market for defibrillators.
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The Saudi Arabia defibrillators market is expanding at a positive CAGR of 8.3% between 2014 and 2020. This market was valued at US$28.6 mn in 2013. With all the factors that are currently pointing to this market’s growth, it can easily climb to US$49.8 mn before the end of 2020.
This holds major opportunities for key players that exist in the market for defibrillators, including ZOLL Medical Corporation, Schiller AG, Physio-Control, Inc., Philips Healthcare, Nihon Kohden Corporation, Mindray Medical International Ltd., HeartSine Technologies, Inc., GE Healthcare, Defibtech, LLC, Cardiac Science Corporation, and Biotronik SE & Co. KG. These companies are attempting to increase their foothold in the Saudi Arabia defibrillators market, and so are a few new entrants.
Saudi Arabia Heart Disease Threats on the Rise
In a release by the World Health Organization, corroborated by the Saudi Arabia Ministry of Health, a large amount of deaths were caused by non-communicable diseases in 2010, out of which 42% were caused by cardiovascular diseases. This number is already too high to ignore and is still on the rise.
In another health study in 2014, conducted by the Saudi Heart Association, one of four adults will be suffering from cardiac arrests from 2014 to 2024. Additional data was provided by the vice president of the Saudi Heart Association, Professor Hani Najm: At least half the current population in Saudi Arabia falls under 25 years of age. A significant portion of this youth indulges in unhealthy eating and lifestyle habits, all of which contribute to health complications such as heart disease as the youth grow older. This is a worrisome thought for the Saudi Arabia healthcare industry, as the country could be on the verge of a heart disease epidemic inside of the next two decades.
Government is Pushing for Higher Availability of Defibrillators
There has been significant amounts of proof that shows the usefulness of defibrillators and CPR in the event of a cardiac arrest. The recorded survival rate of patients who have suffered from a sudden cardiac arrest is about 75%, if they are administered with the above two measures immediately after the attack. When you take this into consideration with the relative dearth of various defibrillators and medical lessons for CPR in Saudi Arabia, there is a clear list of opportunities that the top players need to fill up as soon as possible.
In another research conducted on the overall awareness rate of heart disease in Saudi Arabia, it was found that nearly 75% of the respondents who were aware that they suffered from cardiovascular diseases had multiple factors of causation for it. This is an alarming fact that is prompting the healthcare industry to take swift and immediate action toward reducing the causes of heart disease in the region.
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