Saudi Arabia Internet of Medical Things Market is expected to grow at a robust CAGR
Saudi Arabia Internet of
Medical Things (IoMT) market is rising due to increased adoption of connected
healthcare devices and the government's focus on digital healthcare
transformation during the forecast period.
According
to TechSci Research report, “Saudi Arabia Internet of
Medical Things Market – By Region,
Competition, Forecast and Opportunities, 2018-2028”, the Internet
of Medical Things (IoMT) market in Saudi Arabia is experiencing a notable
upsurge driven by several key factors. The growing adoption of connected
healthcare devices and remote patient monitoring solutions is at the forefront
of this expansion. Patients and healthcare providers are increasingly
recognizing the benefits of real-time health data monitoring and the ability to
manage chronic conditions more effectively. Moreover, the Saudi Arabian
government has placed a significant emphasis on digital healthcare
transformation, promoting initiatives that encourage the integration of IoT
technology in the healthcare sector. The Vision 2030 program, with its focus on
diversifying the economy and enhancing healthcare services, has further
accelerated the IoMT market's growth. Additionally, the COVID-19 pandemic
underscored the importance of remote healthcare solutions, fostering a more
favorable environment for IoMT solutions. As a result, both domestic and
international companies are capitalizing on these opportunities, leading to a burgeoning
IoMT market in Saudi Arabia with a promising outlook for continued expansion
and innovation in the healthcare sector.
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and an in-depth TOC on the "Saudi Arabia Internet of Medical Things Market."
Based on Component, the Saudi Arabia Internet of Medical Things (IoMT) market
was predominantly dominated by the "Services" segment, and this
dominance is anticipated to continue during the forecast period. The Services
segment encompasses various aspects critical to the successful implementation
and operation of IoMT solutions, including system integration, consulting,
maintenance, and ongoing support services. The significance of services in the
IoMT market lies in their role in ensuring the seamless integration of IoMT
systems into existing healthcare infrastructure, maintaining the security and
compliance of these systems, and providing necessary training to healthcare
professionals for efficient utilization.
The dominant position
of the Services segment is attributed to several key factors. First, the
complexity of IoMT implementation often requires specialized expertise to
integrate diverse hardware and software components into existing healthcare
networks, ensuring data privacy and security. Service providers offer
healthcare organizations the necessary guidance and support to navigate these
intricacies. Ongoing maintenance and support services are essential to
guarantee the continuous functionality of IoMT devices and systems. With the
growing reliance on IoMT for patient care and monitoring, healthcare facilities
depend on services to address technical issues and ensure the seamless
operation of these systems.The Saudi Arabian government's focus on digital
healthcare transformation, coupled with the rising demand for telehealth and
remote patient monitoring, has led to increased adoption of IoMT services to
implement and maintain these technologies effectively. The Services segment is
expected to maintain its dominance in the Saudi Arabia IoMT market during the
forecast period. It will continue to play a crucial role in helping healthcare
providers harness the full potential of IoMT solutions, ultimately enhancing
patient care and healthcare service delivery across the country.
Based on Application, the
Telemedicine segment emerged as the dominant force in the Saudi Arabia Internet
of Medical Things (IoMT) market, and this trend is expected to persist during
the forecast period. Telemedicine, which enables remote healthcare
consultations, has experienced rapid adoption due to its ability to bridge
geographical gaps, improve patient access to healthcare services, and enhance
the efficiency of medical consultations. The COVID-19 pandemic significantly
accelerated this trend, prompting a surge in telemedicine adoption across the
country as patients sought safe and convenient ways to access healthcare
services.
Telemedicine offers
several advantages, such as enabling patients to consult with healthcare
providers from the comfort of their homes, reducing the burden on hospitals and
clinics, and improving healthcare accessibility, particularly in remote or
underserved areas. As the Saudi government continues to invest in healthcare
infrastructure and digital transformation through initiatives like Vision 2030,
the Telemedicine segment is expected to maintain its dominance in the IoMT
market. Additionally, the evolving healthcare landscape, coupled with the
increasing preference for telehealth services among patients and healthcare
providers, positions telemedicine as a pivotal application of IoMT in Saudi
Arabia, with its influence extending well into the forecast period.
Key market players in the Saudi Arabia Internet
of Medical Things Market are:
- Philips Healthcare
- General Electric Company
- Siemens Healthineers AG
- Medtronic plc
- Cisco Systems, Inc.
- IBM Corporation
- Honeywell International Inc.
- Microsoft Corporation
- Cerner Corporation
- Oracle Corporation
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“The Saudi Arabia Internet
of Medical Things (IoMT) market is undergoing rapid transformation as it aligns
with the global trend of healthcare digitalization. By 2022, this market shows
significant promise, driven by key factors. Government commitment is a
fundamental catalyst, notably through the Vision 2030 program, focused on
enhancing healthcare services and diversifying the economy. This vision
promotes the integration of digital healthcare, which has spurred various
initiatives and infrastructure development. Furthermore, the growing burden of
chronic diseases, such as diabetes and cardiovascular conditions, fuels IoMT
adoption, facilitating real-time monitoring and management. The surge in
telehealth and remote patient monitoring, particularly due to the pandemic, has
also contributed to IoMT's momentum, fostering efficient healthcare service
delivery. The private sector's active investment in IoMT innovation further
drives market growth, as startups and technology companies develop advanced
solutions. Lastly, IoMT aligns with the shift toward patient-centered care,
offering tailored healthcare solutions and empowering individuals to actively
engage in their well-being. This confluence of factors ensures that the IoMT
market in Saudi Arabia is on a trajectory of substantial growth and
transformation, improving healthcare services and overall public health.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Saudi Arabia Internet of Medical Things Market Segmented By
End-use (Homecare, Hospitals, Clinics, Research Institutes & Academics, Others),
By Component (Hardware, Software, Services), By Deployment (Cloud, On-premise),
By Application (Telemedicine,
Clinical Operations & Workflow Management, Connected Imaging, Medication
Management, Inpatient Monitoring, Others), By Region, and By Competition,
2018-2028,” has evaluated the future growth potential
of Saudi Arabia Internet of Medical Things
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Saudi Arabia Internet of Medical Things Market.
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