Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi medical devices market to reach $1.6 billion by 2018  Join our daily free Newsletter

MENAFN - Arab News - 12/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The market for medical devices in Saudi Arabia was valued at 1.1 billion at the beginning of 2013 and is estimated to reach a total of 1.6 billion by the end of 2018, suggesting a complete annual growth rate (CAGR) of 9 percent within the next five years. This accounts for almost 50 percent of the Middle East's medical devices industry.
The projected robust growth of the Kingdom's medical devices sector in the coming years is attributed to several factors, including an overall increase in health care spending by the government, rise in per capita income, growing penetration of the health care insurance, and huge investment in both human resource and infrastructure.
The Saudi government has undertaken several initiatives to improve the existing health care industry that will significantly contribute toward the development of its allied sectors.
CompuGroup Medical (CGM), a leading IT health care solutions provider in the Middle East and Turkey, says that there is a need to increase the local production of medical devices that are currently restricted to very few items. CGM added that it would limit the reliance of the Kingdom's health care sector on imports, which account for more than 80 percent of the overall market value.
Thomas Reitmayr, VP, business development, CompuGroup Medical Central and East Europe, said: "The government of Saudi Arabia is highly proactive in the development of health care facilities both in terms of planning and building of new treatment centers and upgrading and improvement of existing facilities. In addition, many new specialty and super specialty health care facilities are under various stages of planning and development in the Kingdom. All of this naturally leads to an upsurge in the demand for medical devices, equipment, services and solutions."
"CGM is keen on providing the best and the most advanced medical solutions to the growing Saudi health care sector. We have achieved tremendous success with our local clients so far and are looking forward to leverage this success to contribute toward the progress and development of the local medical field," added Mehmet Bilginsoy, GM, CompuGroup Medical Middle East.
As one of the leading eHealth companies in the world, CGM has introduced quite a number of scalable technology products and solutions that continue to play major roles in enhancing the quality and extent of health care across the Kingdom. Among CGM's key offerings are the CORTTEX integrated hospital information management system environment, the CGM CNG clinical information systems, and the iOS-based iCNG mobile applications.
CompuGroup Medical is one of the major e-Health companies in the world, whose software products are designed to support all medical and organizational activities in doctors' offices, pharmacies and hospitals. Its information services for all parties involved in the health care system and its web-based personal health records contribute toward safer and more efficient health care.
CompuGroup Medical's services are based on a customer base of over 385,000 doctors, dentists, hospitals, pharmacies and networks as well as other service providers.
With locations in 19 countries and customers in 35 countries worldwide, CompuGroup Medical is claimed to be the e-Health company with one of the highest coverage among e-Health service providers. Approximately 3,700 "highly qualified employees support customers with innovative solutions" for the steadily growing demands of the health care system.

 


Arab News




  MENA News Headlines
 Dec 22 2014 - MoI discusses setting up national strategic plan to fight drugsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Ministry of Interior, MoI, has discussed ways to establish the first national strategic plan to combat drugs. The discussion took place during a specialised ...

 Dec 22 2014 - GCC Secretary-General hails initiative of Saudi King on Qatar, Egypt reconciliationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dr. Abdullatif bin Rashid Al Zayani, GCC Secretary-General, expressed satisfaction with the initiative of the Custodian of the Two Holy Mosques, King Abdullah ...

 Dec 22 2014 - Etihad Airways goes double daily to MelbourneEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Etihad Airways today announced plans for a second daily non-stop service between Abu Dhabi and Melbourne from 1st August 2015.The additional flight will be ...

 Dec 22 2014 - Dubai Municipality launches recycling initiative at Safa ParkEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dubai Municipality has launched an initiative to encourage Safa Park visitors to exchange their recyclables, such as plastic and cans, in exchange for Union ...

 Dec 22 2014 - Ducab Aluminium begins construction of new facility in KizadEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Abu Dhabi Ports Company, ADPC, has announced that Ducab Aluminium Company has broken ground for its new aluminium rod and conductor facility at Kizad.After ...

 Dec 22 2014 - Kuwaiti Emiri Diwan mourns death of Sheikha Sabah Al-Nasser Al-SabahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Kuwaiti Emiri Diwan today mourned the death of Sheikha Sabah Al-Nasser Al-Sabah, spouse of His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah.According ...

 Dec 22 2014 - OPEC daily basket price Friday 19th DecemberEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The price of OPEC's basket of twelve crudes stood at US$55.52 a barrel on Friday, compared with $56.30 the previous day, according to OPEC Secretariat ...

 Dec 22 2014 - World Islamic Travel Summit to debut in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The World Islamic Travel Summit, WITS15, the largest showcase of Halal travel and tourism solutions, is to debut in Abu Dhabi next October.The pioneering ...

 Dec 22 2014 - DEWA sponsors first Emirati student to Lima Climate Change Conference in PeruEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Bader Al Hammadi, an Emirati student and Carbon Ambassadors Programme member, has participated in the United Nations COP20 Climate Change conference in Lima, ...

 Dec 22 2014 - China tops Algeria's supplier list for second yearEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  China has emerged as Algeria's largest supplier in the first 11 months of 2014, figures from customs showed on Sunday.China topped the list of the largest ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help