Saudi Arabia Digital Health Market Analysis Report 2022 to 2030

Saudi Arabia Digital Health Market Analysis

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Saudi Arabia's Digital Health market is projected to grow from $3.59 Bn in 2022 to $15.53 Bn by 2030, registering a CAGR of 20.1% during the forecast period of 2022-30. The market will be driven by government support and initiatives such as the "Vision 2030" plan & increasing demand for convenient and accessible healthcare. The market is segmented by solution, by deployment & by end-use. Some of the major players include Philips, GE Healthcare & Epic Systems.

ID: IN10SADH005 CATEGORY: Digital Health GEOGRAPHY: Saudi Arabia AUTHOR: Vidhi Upadhyay

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Saudi Arabia Digital Health Market Executive Summary

Saudi Arabia's Digital Health market is projected to grow from $3.59 Bn in 2022 to $15.53 Bn by 2030, registering a CAGR of 20.1% during the forecast period of 2022-30. The healthcare expenditure (% of GDP) for Saudi Arabia declined from 5.75% in 2018 to 5.7% in 2019 according to the World Health Organization Global Health Expenditure database. In recent years, the Saudi government has pursued a number of measures to enhance healthcare in the country, including raising the healthcare budget and encouraging private sector participation in healthcare. Furthermore, Saudi Arabia is working on measures to save healthcare costs, such as deploying telemedicine and other digital health technologies to increase access to care, expanding the use of preventive care, and encouraging healthy lifestyle choices.

In Saudi Arabia, digital health uses technology to enhance patient outcomes and streamline healthcare delivery. The use of electronic medical records, telemedicine, mobile health applications, and other interactive platforms enhances the quality and performance of healthcare services. In accordance with the Vision 2030 framework, one of the key components of the healthcare plan is the introduction of electronic medical records (EMR) in all Saudi Arabian facilities. Saudi Arabia also launched the world's largest and Middle East's first virtual hospital “SEHA” in October 2022.

Saudi Arabia digital health market analysis report 2022 to 2030

Market Dynamics

Market Growth Drivers

The National Digital Health Strategy intends to digitize all parts of the healthcare system, as well as the introduction of a national telemedicine program. Furthermore, the Saudi Food and Drug Authority (SFDA) is developing rules for the use of digital health goods and services in the Kingdom. Apart from government initiatives, the growing use of smartphones and other mobile devices in Saudi Arabia has made it simpler for people to use their mobile devices to access digital health services such as telemedicine. Furthermore, the aging population and the demand for cost-effective and appropriate healthcare solutions are driving the expansion of the country's digital health industry.

Market Restraints

The Saudi digital health industry may be hampered by problems such as poor digital literacy and awareness, a lack of laws and regulations data security and confidentiality concerns, resource limitations, the increased cost of digital health technologies, and a restricted approach by a health practitioner. These constraints may impede the expansion of the Saudi digital health market, but the government and commercial sectors are attempting to address them.

Competitive Landscape

Key Players

Philips: A worldwide health technology leader that provides digital health solutions for telemedicine, imaging, and patient monitoring.
Siemens Healthineers: A global provider of, medical imaging, and laboratory diagnostics offering digital health solutions
GE Healthcare: A leading provider of medical imaging, health monitoring, and digital health solutions throughout the world
Cerner: It is a major player in the digital health market, offering electronic health records (EHR) and other clinical information systems
Epic Systems: is an EHR software firm that is involved in the Saudi digital health sector by supplying its EHR system to many of the country's leading institutions

Healthcare Policies and Regulatory Landscape

The Ministry of Health (MoH) oversees the digital health sector in conjunction with the Saudi Food and Drug Authority (SFDA), the Saudi Authority for Data and Artificial Intelligence (SDAIA), and the Communications and Information Technology Commission (CITC). The Kingdom of Saudi Arabia's Vision 2030 framework, which was adopted in 2017, authorized the promotion and guidance on the use of artificial intelligence (AI) and other data sources to promote new digital health solutions.

Health Sector Transformation Program launched in 2022 by the MoH, strives to ensure sustainable healthcare services in the Kingdom as well as a more effective and integrated health system with expanding provisions for telemedicine and e-health.

The National Platform for Health and Insurance Exchange Services (NPHIES) in collaboration with the Cooperative Health Insurance Council (CCHI), the National Health Information Center (NHIC), and the Ministry of Health launched a healthcare information exchange platform that aims to consolidate patient care data for healthcare providers and streamline insurance services.

Reimbursement Scenario

As part of its "Vision 2030" goal, the Saudi government is actively striving to build a reimbursement system for digital health services. However, at the moment, reimbursements for digital health services in Saudi Arabia are restricted, with patients bearing the majority of the cost. The government is working on developing the reimbursement system, although it is unclear when it will be completely operational. Furthermore, private insurance firms in Saudi Arabia have begun to offer coverage for digital health services, however, coverage remains limited and not widely available.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy 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
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

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

6. Methodology and Scope

Saudi Arabia Digital Health Market Segmentation

The Digital Health Market is segmented as mentioned below:

By Solution (Revenue, USD Billion):

Software
Services

By Deployment (Revenue, USD Billion):

Cloud-based
On-premises

By End-use (Revenue, USD Billion):

Diagnostic Centres
Healthcare Payers
Healthcare Research Centres
Hospitals & Clinics
Nursing Care Centres
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.