Top (5) Medical Equipment Companies in Jeddah
Medical Equipment Companies in Jeddah Medical device companies play a vital role in the life sciences industry by developing new technologies to match unmet medical needs across existing and emerging healthcare markets.
The increasing prevalence of chronic diseases such as cancer and diabetes is the driving force behind increased innovation in medical technology, from surgical instruments and orthopedics to diagnostics and medical imaging.
Top (5) Medical Equipment Companies in Jeddah
Saudi Mais Company for Medical Products:
This company provides a variety of medical equipment needed by any hospital, and it also offers a range of offers on a continuous and periodic basis, which makes its prices great for everyone, in addition to providing a good after-sales service.
Al-Razi Medical Supplies Company
The owner of this company is Dr. Ibrahim Masoud. The date of the beginning of the company's work dates back to 1988. The company sells all medical supplies to clients from government and private hospitals and private clinics.
The Arab Company for Medical Supplies:
It is considered one of the good places in selling medical supplies and it provides many medical supplies to all clinics and hospitals.
Tamer Medical Devices Company:
This company is one of the important companies related to the provision of various pharmaceutical products in Saudi Arabia, as it provides its services to all pharmacies and private hospitals.
Massas Medical Company:
The company provides a variety of medical supplies within the Kingdom of Saudi Arabia and has many offices in Saudi Arabia.
Approval of new medical devices
In 2020, 59 new medical devices were approved by the U.S. Food and Drug Administration (FDA) for the year, a big jump from the 46 approved in 2019.
However, FDA approvals for medical devices dropped to just 26 in 2021, which the agency did attributable to fatigue under COVID-19 conditions, which has put a strain on resources.
How do medical device companies work?
Medical equipment companies in Jeddah, as in the pharmaceutical industry, all new medical devices must undergo clinical trials and regulatory approval with various agencies in the United States, Europe and Asia.
For example, a medical device product must be approved by the Food and Drug Administration to be available in the US market, and more specifically, the agency's Center for Devices and Radiological Health (CDRH) oversees the regulatory requirements for companies that manufacture, repackage, relabel, and import Medical devices for sale in the United States.
CDRH also regulates medical and non-medical radiation-emitting electronic medical equipment such as lasers, x-ray systems, ultrasound equipment, microwave ovens, and televisions.
The Food and Drug Administration (FDA) classifies medical devices into three different categories:
Class I medical devices pose a low risk and do not have many regulatory controls. These products generally do not require a Premarket 510(k) notice. In other words, Tier 1 device manufacturers do not need to show that their devices are similar to an existing product to prove its safety and efficacy.
Examples include enema sets, elastic bandages and stethoscopes. According to the Food and Drug Administration, 47 percent of medical devices are Class I.
Medical device companies: growth and innovation
Medical device companies share some of the difficulties faced by their peers in the biotech and pharmaceutical sectors — astronomical costs associated with research and development, as well as lengthy testing and approval processes.
As a result, many of the largest medical device companies are wary of innovation, choosing instead to follow existing models or technologies.
Interestingly, while innovation may be risky for larger companies, it is important for smaller startups aiming to be acquired by larger players in the sector.
Technologies disrupting the medical device market include smart inhalers, robotic surgery, wireless brain sensors, 3D printing, artificial organs, and wearable health devices.
Medical device companies: the outlook
In a recent report, Market Research & Research reports that the global medical device market was valued at $434.2 billion in 2021, and the industry is expected to grow at a compound annual growth rate of 6.3% to reach $625.3 billion, in 2027.
The company attributes this growth to the increasing prevalence of diseases, along with an aging population. Notably, chronic diseases, including cardiovascular, nervous, orthopedic and respiratory diseases, still require the development of medical equipment and devices for diagnosis and treatment.
Other market trends are expected to influence the growth of the medical device industry in mergers and acquisitions, increase in innovative technologies and emerging markets such as China, India and the Middle East.
Investors will certainly be watching the industry to see how new solutions continue to shape this exciting market.
What does a medical equipment supplier do?
Medical Equipment Companies in Jeddah Have you heard of the term medical equipment supplier and wondered what it means? These types of medical companies usually provide what's called durable medical equipment (DME) to those who need them, usually supplies that one might need after being discharged from the hospital or for long-term care at home.
Some people need certain types of durable medical equipment or special supplies in order to live a high quality life and work as independently as possible.
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