Saudi Arabia Wearable Medical Devices Market to Grow Due to Technological Advancement until 2026
Advancing healthcare sector in the
country is driving the growth of Saudi Arabia Wearable Medical Devices Market,
in the forecast period, 2022-2026.
According to TechSci report on, “Saudi Arabia Wearable Medical Devices Market By Type
(Diagnostics v/s Therapeutic), By Products (Activity Monitors/ Trackers,
Smartwatches, Patches, Smart Clothing), By Purpose (Heart Rate, Physical
Activities, Blood Oxygen Saturation, Body Temperature, Others), By Site (Strap/
Clip/ Bracelet, Handheld, Headband, Shoe Sensors, Others), By Application
(General Health & Fitness, Remote Patient Monitoring, Home Healthcare), By
Distribution Channel (Pharmacies, E-Commerce, Others) By Region, Competition
Forecast & Opportunities, 2026”,
Saudi Arabia wearable
medical devices market has shown
promising growth in historical years until 2019 and is expected to continue its
growth in upcoming forecast years 2021 to 2026. Saudi Arabia wearable medical
devices market owes its growth to the factors like increasing demand for the
early diagnosis and efficient treatment for various diseases.
Increasing
instances of chronic diseases and viral & bacterial infection is further
supporting the growth of the Saudi Arabia wearable medical devices market in
the upcoming five years. Expanding healthcare services and the availability of
the free healthcare facilities for the citizen of the Kingdom of Saudi Arabia
is also supporting the growth of the Saudi Arabia wearable medical devices
market in the next five years.
Government
and private funding are sustaining the futuristic growth of the healthcare
sector in the country and thus further substantiating the growth of the Saudi
Arabia wearable medical devices market in the future five years. Rising
geriatric population is also more susceptible to weak immune system and thus
demand better patient care thus aiding the growth of the Saudi Arabi wearable
medical devices market in the forecast period.
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The
Saudi Arabia wearable medical devices market segmentation is based on type,
products, purpose, site, applications, distribution channel, competitional
landscape, and regional distribution. Based on type, the market is divided
between diagnostics, and therapeutics. Diagnostics is anticipated to hold the
largest revenue shares of the market and dominate the market segment in the
upcoming five years on the grounds of increasing demands for the early
diagnosis of the diseases and deteriorating conditions.
Wearable
medical devices are often utilized for the monitoring of the patients health
conditions and their vitals thus, identifying the symptoms and the adverse
effects become very easy and thus drives the growth of the Saudi Arabia
wearable medical devices market in the next five years. Therapeutics
sub-segment is also anticipated to register significant growth in the future
five years on the account of increasing instances of cancer.
Various
cancer patients are undergoing chemotherapy and radiotherapy as a therapeutic
treatment for the cancer conditions. Demand for the wearable medical devices is
also increasing due to rapidly increasing population that is concerned toward
their health conditions. Moreover, financially aided services of healthcare on
the lands of the Kingdom of Saudi Arabia is also supporting the growth of the
Saudi Arabia wearable medical devices market in the forecast period, until
2026.
A
partial list of market players functioning in the Saudi Arabia ophthalmology
equipment market in the forecast years include,
·
Philips
Healthcare Saudi Arabia
·
Medtronic
Saudi Arabia
·
Abbott
Laboratories, Inc. (Saudi Arabia)
·
GE
Healthcare Saudi Arabia
·
Fitbit,
Inc. (Saudi Arabia)
·
Dexcom
Saudi Arabia
·
Boston
Scientific Corporation
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“Saudi
Arabia offers free of cost healthcare facility and patient care for its
citizen, that is a major reason behind the esteemed growth of the Saudi Arabia
wearable medical devices market in the upcoming five years. On the basis of
distribution channel, the market segmentation is categorized into pharmacies,
e-commerce, and other distribution channels. Pharmacies are anticipated to hold
the largest revenue shares of the market and dominate the market segment.
Surging demand and concerned consumers are further driving the growth of the
Saudi Arabia wearable medical devices market in the next five years. Moreover,
e-commerce sub-segment is also anticipated to register fastest growing CAGR
value in the upcoming five years on the grounds of increasing dependency of the
consumers on online shopping. Changing shopping behavior, availability of the
wider range of products, and available schemes and discounts on the online
platforms further surge the demand and thus the growth of the Saudi Arabia
wearable medical devices market in the future five years,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi
Arabia Wearable Medical Devices Market By Type (Diagnostics v/s Therapeutic),
By Products (Activity Monitors/ Trackers, Smartwatches, Patches, Smart
Clothing), By Purpose (Heart Rate, Physical Activities, Blood Oxygen
Saturation, Body Temperature, Others), By Site (Strap/ Clip/ Bracelet,
Handheld, Headband, Shoe Sensors, Others), By Application (General Health &
Fitness, Remote Patient Monitoring, Home Healthcare), By Distribution Channel
(Pharmacies, E-Commerce, Others) By Region, Competition Forecast &
Opportunities, 2026” has evaluated the
future growth potential of Saudi Arabia wearable medical devices 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 wearable medical devices market.
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