MedTech and Innovation Horizons (Riyadh Valley Company)

Summary

• The global medtech market is expected to grow at a compound annual growth rate of 4.4% from 2023 to 2033, driven by the rising incidence of chronic diseases.p.5
• According to an EY survey, 80% of US doctors had not used virtual health in patient relationships at the start of 2020, but six months later 95% had expanded their use of virtual media.p.5
• R&D investment of $42 billion in the sector during 2022 shows it has been prioritised despite macroeconomic challenges.p.11
• Yadawi, an investment of Riyadh Valley Company through the FLAT6LABS fund, was founded in 2020 to offer affordable healthcare in Saudi Arabia with no subscription fees.p.11
• Riyadh Valley Company was founded in 2010 as the investment arm of King Saud University.p.12

Key insights

1. Chronic diseases, population ageing, preventive care and demand for digital health in emerging markets are driving expansion of the medtech sector.p.5
2. The global medtech market is projected to grow at a CAGR of 4.4% over 2023 to 2033.p.5
3. Virtual health use among US doctors expanded sharply during the pandemic, with 95% expanding their use within six months.p.5
4. Research and development spending of $42 billion in 2022 underlines the priority given to medtech innovation.p.11
5. Yadawi was founded in 2020 and is one of Riyadh Valley Company's investments through the FLAT6LABS fund.p.11
6. Riyadh Valley Company was established in 2010 as the investment arm of King Saud University.p.12