GVR Report cover Saudi Arabia Medical Equipment Third Party Calibration Services Market Size, Share & Trends Report

Saudi Arabia Medical Equipment Third Party Calibration Services Market Size, Share & Trends Analysis Report, By End-use (Hospitals, Clinical Laboratories), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-038-9
  • Number of Report Pages: 66
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Report Overview

The Saudi Arabia medical equipment third party calibration services market size was valued at USD 0.59 million in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. The growth of the market can be attributed to the factors such as increasing demand for healthcare services in the country, the advancement of medical devices, and the need for compliance with strict regulatory requirements. The COVID-19 pandemic has had a significant impact on the healthcare sector. Restrictions and lockdowns caused disturbance to the medical devices supply chain in Saudi Arabia. Due to the delay in performing medical device maintenance, there was an impact on other service markets, such as calibration services for medical equipment.

Saudi Arabia medical equipment third party calibration services market size, by end-use, 2020 - 2030 (USD Million)

Export.gov estimates that the Saudi Arabian market for medical equipment is under a significant growth rate per year. There is a sizable market for medical equipment because of growing health awareness and the rise in healthcare service consumption. The population of the country would experience a structural change in the distribution of people between the ages of 40 and 60. This will increase demand for healthcare services, and compared to current trends, the kind of services, spending per patient, length of care, and types of specializations will all change dramatically.  

Furthermore, several third-party service providers in Saudi Arabia are integrating technology with their calibration processes to improve accuracy and efficiency. This includes the use of advanced software and automation tools to streamline the standardization process and reduce the risk of human error. For instance, in January 2023 Al Borg Calibration Laboratory entered into a partnership agreement with International SOS Medical Complex to manage and operate its medical facility for five years.

Additionally, providers are offering online and offline customized calibration services to meet the specific needs of their customers, which allows customers to schedule and track their services online. These advancements are helping to improve the quality and efficiency of medical equipment in Saudi Arabia, leading to better outcomes for patients and healthcare providers alike.

End-use Insights

The hospital segment captured the highest market share of 43.9% in 2022. Standardization of hospital equipment is vital for more than just ensuring the best possible patient care. In light of the fact that doctors and nurses depend on the tools they use to monitor patients for accuracy & precision, hospital equipment standardization is essential for more reasons than just ensuring the best possible patient care.

Saudi Arabia medical equipment third party calibration services market share, by end-use, 2022 (%)

The clinical laboratories segment is projected to witness lucrative growth in the coming years. Clinical laboratories prefer to subscribe to annual or periodic service plans that cover the validation of all of the lab’s instruments. The foundation of every clinical laboratory test is standardization, which ensures accurate reporting of patient data. By using calibration, the analytical signal is linked to the concentration of analyte found in serum, urine, or other physiological fluids.

Key Companies & Market Share Insights

Key market players are entering into strategic collaborations and partnerships to expand their existing portfolio. For instance, in September 2021, TÜV SÜD's calibration laboratory announced establishing its new USD 100 million regional hubs in Singapore to boost business excellence in developing areas in the country. The company also announced partnerships to champion sustainability & digital trust in Singapore. Some of the prominent players in the Saudi Arabia medical equipment third party calibration services market include:

  • Aries Calibration LAB

  • Al Borg Calibration Laboratory

  • MT ENTERPRISES

  • AIM Inspection & Calibration Service

  • TÜV SÜD's calibration laboratory

  • Gulf Calibration Service (GCS)

  • Testo SE & Co. KGaA

  • Fugro Suhaimi Limited

Saudi Arabia Medical Equipment Third Party Calibration Services Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 0.65 million

Revenue forecast in 2030

USD 1.15 million

Growth rate

CAGR of 8.4% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

End-use

Country scope

Saudi Arabia

Key companies profiled

Aries Calibration LAB; Al Borg Calibration Laboratory; MT ENTERPRISES; AIM Inspection & Calibration Service; TÜV SÜD's calibration laboratory; Gulf Calibration Service (GCS); Testo SE & Co. KGaA; Fugro Suhaimi Limited

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Saudi Arabia Medical Equipment Third Party Calibration Services Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented Saudi Arabia medical equipment third party calibration services market report based on end-use:

  • End-use Outlook (Revenue, USD Million, 2018 - 2030)

    • Hospitals

      • Electrical

      • Radio Frequency (RF)

      • Temperature

      • Humidity

      • Pressure

      • Others

    • Clinical Laboratories

    • Others

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.