Saudi Arabia Connected Healthcare Market Analysis

Saudi Arabia Connected Healthcare Market Analysis

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Saudi Arabia's connected healthcare market is projected to grow from $1.13 Bn in 2022 to $9.15 Bn by 2030, registering a CAGR of 29.9% during the forecast period of 2022-30. The main factors driving the growth would be government support, technological advancements, increasing investment in the sector, and increasing prevalence of chronic diseases. The market is segmented by type, function and application. Some of the major players include Cura, Seha Virtual Hospital, Saudi Telecom Company, GE Healthcare, Honeywell and Apple.

ID: IN10SAHS004 CATEGORY: Healthcare Services GEOGRAPHY: Saudi Arabia AUTHOR: Neha Davda

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Saudi Arabia Connected Healthcare Market Executive Summary

Saudi Arabia's connected healthcare market is projected to grow from $1.13 Bn in 2022 to $9.15 Bn by 2030, registering a CAGR of 29.9% during the forecast period of 2022-30. In 2019, Saudi Arabia spent 5.69% of its GDP, or $1,316.26, on public health care. There are many opportunities for growth in this high-potential industry, and the Saudi government continues to give healthcare a top priority.

With the government spending extensively on modernising the healthcare system and enhancing access to healthcare services for its residents, Saudi Arabia is quickly becoming as a centre for healthcare innovation and technology. The proliferation of connected healthcare solutions in Saudi Arabia is one of the most significant advancements in this area.

Telemedicine service providers, producers of medical equipment, and start-ups in the digital health sector are some of the major stakeholders in Saudi Arabia's connected healthcare business. These businesses are utilising cutting-edge technology like artificial intelligence, the Internet of Things (IoT), and big data analytics to create novel solutions that can enhance patient outcomes and lower healthcare expenses.

Saudi Arabia Connected Healthcare Market

Market Dynamics

Market Growth Drivers

The Saudi Arabia-connected healthcare market is expected to be driven by factors such as:

  1. Government support- The government of Saudi Arabia has committed significantly to the growth and modernization of the nation's healthcare system, including the promotion of digital health solutions. Its assistance covers programs like the National Transformation Program and the Saudi Vision 2030, which are focused at enhancing healthcare access and quality
  2. Technological advancements- Innovation in the connected healthcare market is being driven by developments in digital health technologies including artificial intelligence (AI), IoT, and big data analytics. Technological innovations in technology make it possible to create new, better healthcare solutions
  3. Increasing investment in the sector- Government and private investors in Saudi Arabia are making significant investments in the growth of the connected healthcare market, opening up new business prospects for enterprises in the industry. The market's growth and innovation are being fueled by this investment
  4. Increasing prevalence of chronic diseases- In Saudi Arabia, chronic conditions like diabetes, cardiovascular disease, and respiratory illnesses are becoming more prevalent, necessitating constant monitoring and management of these conditions. Patients can manage their ailments more successfully and get better results with the aid of connected healthcare technologies

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in Saudi Arabia:

  1. Limited digital infrastructure- Despite the government's dedication to advancing digital health solutions, Saudi Arabia still has a limited internet infrastructure, especially in rural areas. For some people, this may restrict their access to connected healthcare services
  2. Cultural and regulatory barriers- The use of connected healthcare solutions in Saudi Arabia may also be constrained by cultural and legal considerations. For instance, some patients might prefer to meet medical professionals face-to-face rather than through telemedicine, and regulatory restrictions may restrict the application of some digital health technologies
  3. Limited healthcare workforce- Saudi Arabia suffers from a shortage of medical personnel, which may hinder the uptake and efficacy of connected healthcare solutions. Also, some healthcare professionals could lack the technical expertise needed to use these solutions efficiently

Competitive Landscape

Key Players

  • Cura (SAU)- Cura offers telemedicine and remote patient monitoring services. A variety of connected medical devices offered by the company's solutions enable patients to monitor their health at home and communicate the results with healthcare professionals
  • Seha Virtual Hospital (SAU)- A healthcare organisation called SEHA runs hospitals and clinics all over Saudi Arabia. The business has created several connected healthcare solutions, such as telemedicine services and tools for remote patient monitoring
  • Saudi Telecom Company (SAU)- The connected healthcare sector has been entered by Saudi Telecom Company (STC), a telecommunications firm. The business offers telemedicine services, remote monitoring tools, and digital health platforms as solutions
  • GE Healthcare- Saudi Arabia is a key market for the international healthcare firm GE Healthcare. The business offers a variety of connected healthcare solutions, including platforms for healthcare analytics, patient monitoring devices, and medical imaging systems
  • Honeywell- A multinational corporation, Honeywell focuses on four business sectors: aerospace, building technologies, performance materials and technology, and safety and productivity solutions
  • Apple- Many health and fitness features are available in Apple's Health app and Apple Watch, and the company is working more closely with healthcare organisations to integrate its products into patient care

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Connected Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription

  • MHealth services
  • mHealth Devices
  • E- Prescription

By FunctionType (Revenue, USD Billion):

  • Remote patient monitoring
  • Clinical monitoring
  • Telemedicine
  • Others (Assisted Living)

By Application Type (Revenue, USD Billion):

  • Diagnosis and Treatment
  • Monitoring Application
  • Wellness and Prevention
  • Healthcare management
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.



Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 18 September 2023

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