Telemedicine Segment to Dominate the Saudi Arabia IoT in Healthcare Market till 2026
Rising adoption of wearable technology
and growing demand for connected devices is expected to drive the Saudi Arabia IoT
in healthcare market in the forecast period.
According to TechSci Research report, “Saudi
Arabia IoT in Healthcare Market By Component (Medical Device, Systems &
Software, Services, and Connectivity Technology) By Connectivity Technology
(Wi-Fi, Bluetooth Low Energy, Zigbee, Near Field Communication, Cellular,
Satellite) By Application (Telemedicine, Connected Imaging, Inpatient
Monitoring, Remote Patient Monitoring, Others) By End User (Hospitals &
Clinics, Clinical Research Organizations, Government and Defense Institutions,
Research and Diagnostic Laboratories), By Company, By Region, Forecast &
Opportunities, 2026”, The Saudi Arabia IoT in
healthcare market is expected to grow at a promising rate during the forecast period.
With
the use of cloud computing in healthcare facilities to store, process and
organize information the demand for market is expected to rise. Healthcare
service providers offer the facility for online booking of appointments,
prescribing medication and provide remote consultations all over the region.
IoT solutions improve the healthcare quality by enhancing the patient
experience by making it more accessible and cost-effective.
The
COVID-19 outbreak across the world which has been declared as pandemic by World
Health Organization has affected several countries adversely. Leading
authorities of Saudi Arabia imposed lockdown restrictions and released a set of
precautionary measures to contain the spread of novel coronavirus. Coronavirus
affected patients started suffering from shortness of breath along with
coughing and sneezing.
To
provide effective treatment to patients, the healthcare facilities adopted the
internet of things technology. Demand for telemedicine witnessed a surge during
this period as people suffering from diseases other than coronavirus avoided visiting
the healthcare facilities to contain the spread of novel coronavirus and
started treatment from the comfort of their homes.
However,
rising concerns about privacy and data security may restrain the growth of the Saudi
Arabia IoT in healthcare market.
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Saudi Arabia IoT in healthcare market is segregated
into component, application, end user, regional distribution, and company. Based
on end user, market can be divided into hospitals & clinics, clinical
research organizations, government and defense institutions, research, and
diagnostic laboratories. The hospitals & clinics end user segment is
expected to hold major market share in the forecast period, 2022-2026. Internet
of things improve the functional and operational efficiency of the hospitals by
streamlining complex communication.
IoT solutions enhances the patient’s experience,
treatment outcomes, and aids in successfully treatment of various diseases and
disorders. IoT in hospitals & clinics aids in real-time communication,
management of medical records and inventory billing, medication compliance, among
others which contribute to improve the workflow in the hospitals. Hospitals are
investing huge amounts for technological advancements and digitization of the
healthcare facilities which is further boosting the market growth.
Based on application, market can be divided into
telemedicine, connected imaging, inpatient monitoring, remote patient
monitoring, and others. The telemedicine application segment is expected to
dominate the market in the next five years due to high penetration of internet
services and proliferation of smart devices in Saudi Arabia. Increasing
prevalence of chronic diseases and the growing need for effective treatment is
the driving factor for this segment. Rise in demand for patient monitoring
coupled with advancements in technology used in telemedicine is boosting the
growth of the telemedicine segment.
Medtronic Saudi Arabia Co, Koninklijke
Philips N.V., General Electric International Inc. - Saudi Arabia, IBM Saudi
Arabia, Microsoft, Cerner Middle East Ltd, Alphabet Inc., Cisco Systems, Inc,
Team Yamama, SolutionDots Systems Ltd., among others are some of the leading
players operating in Saudi Arabia IoT in healthcare market. Companies operating in the market are using strategies
such as joint ventures, product launches, mergers, and research collaborations
to boost their share and increase their geographic reach.
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“Rise
in investments by the leading authorities and the launch of supportive
initiatives to promote the healthcare sector for example apps like Mawid and
Seha which offers the facility to book appointments in the hospital in which
the patient is referred is boosting the demand for IoT in Saudi Arabia. Also,
the presence of plans like National Transformation Program 2020 which aims to
increase the privatization of the healthcare facilities to ensure providing of
quality treatment to patients coupled with ongoing digital transformation of
the healthcare sector is contributing to propel the IoT in Healthcare market
growth till 2026” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi Arabia IoT in Healthcare Market By Component (Medical
Device, Systems & Software, Services, and Connectivity Technology) By
Connectivity Technology (Wi-Fi, Bluetooth Low Energy, Zigbee, Near Field
Communication, Cellular, Satellite) By Application (Telemedicine, Connected
Imaging, Inpatient Monitoring, Remote Patient Monitoring, Others) By End User
(Hospitals & Clinics, Clinical Research Organizations, Government and
Defense Institutions, Research and Diagnostic Laboratories), By Company, By
Region, Forecast & Opportunities, 2026”, has evaluated the future growth potential of Saudi
Arabia IoT in healthcare 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 IoT
in healthcare market.
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