Egypt Healthcare IoT Market Projected to be Dominated by Medical Devices
Growing
need to increase accessibility to healthcare services with the rapid adoption
of IoT devices is anticipated to drive the growth of the Egypt healthcare IoT market.
According
to TechSci Research report on, “Egypt Healthcare IoT Market By Component
(Medical Devices, Systems and Software, Services, Connectivity Technology), By
Application (Telemedicine, Clinical Operation &
Workflow Management, Medication Management, Connected Imaging, Others), By
End User (Healthcare Providers, Patients, Government
Authorities, Others), By Region, Competition Forecast & Opportunities,
2027”, the Egypt healthcare IoT
market is anticipated to witness robust CAGR over the forecast period 2023-2027.
The market growth can be attributed to the rising adoption of Internet of
Things devices by consumers to monitor their health and manage symptoms of
chronic disorders. Besides, emergence of innovative IoT solutions by market
players to improve the quality of medical care and enable active patient
engagement is likely to propel the market growth. In this age of digitization,
consumers are looking for technological solutions that facilitate real-time
health monitoring. Also, the growing trend of telehealth and telemedicine are
adding to the rapid adoption of Internet of Things devices by consumers as well
as healthcare providers. Moreover, the government is increasingly investing to
improve healthcare infrastructure in the country and introducing policies for
the promotion of digital health, which is expected to create more demand for
IoT devices in the healthcare sector. Furthermore, advancements in wearable
sensor devices, implanted sensor devices, etc. and increase in trend of
self-monitoring and analysis are anticipated to boost the growth of the Egypt
healthcare IoT market during the forecast period.
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The Egypt healthcare IoT market is segmented
on the basis of component, application, end user, region, and company. Based on
the component, the market is divided into medical devices, systems and
software, services, connectivity technology. The medical devices segment is
expected to hold the largest share in the Egypt healthcare IoT market owing to
the large-scale adoption of medical devices to accommodate the growing need for
cost-effective and efficient solutions. Besides, IoT-enabled medical devices
are being widely utilized for tracking and monitoring patients’ data, which is
contributing to the development of various IoT in healthcare use cases.
Based on application, the market is segmented
into telemedicine, clinical operation & workflow management, medication
management, connected imaging, others. The telemedicine segment is anticipated
to hold the largest share in the Egypt healthcare IoT market during the
forecast period. Growing need to reduce the cost of care and rising consumer
demand and patient acceptance are contributing to the growth of the telemedicine
segment. Besides, advantages of telemedicine such as enhanced accessibility to
healthcare, improved healthcare quality and patient safety are supporting the
adoption of IoT in healthcare.
Based on end user, the market is divided into
healthcare providers, patients, government authorities, others. The healthcare
providers segment is expected to register the highest growth in the Egypt
healthcare IoT market, owing to the heavy investments by hospitals &
clinics to speed up the adoption of technological solutions for delivering best
and affordable medical care to patients. Besides, the government authorities
segment is likely to register the fastest growth in the market due to
progressive government initiatives and high investments for promoting
technological advancements in healthcare.
A list of major
market players of the Egypt healthcare IoT market includes:
- Schneider Electric
- Siemens AG
- Microsoft Corporation
- Oracle Systems Corporation
- Amazon, Inc.
- International Business Machines
Corporation
- Cisco Systems Inc.
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“The health of
the population is increasingly becoming a priority for Egypt government in line
with the UN’s sustainable Development Goals. Hence, the Ministry of Planning
and Economic Development has planned to allocate LE 2.8 billion in FY2022/2023
to the healthcare sector for the expansion of hospitals and healthcare units.
With the growing adoption of medical devices, remote patient monitoring
systems, robotics technology in hospitals and clinics, the market for IoT in
healthcare is expected to grow significantly in the coming years. Besides, high
investments by private players in research & development of technological
solutions aimed towards improve the quality of healthcare in the country is
likely to support the growth of the Egypt healthcare IoT market in the coming
years.” said Mr. Karan Chechi, Research Director, TechSci Research, a research
based global management consulting firm.
“Egypt Healthcare IoT Market By Component (Medical Devices, Systems and Software, Services,
Connectivity Technology), By Application (Telemedicine, Clinical Operation
& Workflow Management, Medication Management, Connected Imaging, Others), By
End User (Healthcare Providers, Patients, Government Authorities, Others), By
Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Egypt healthcare
IoT 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 Egypt healthcare IoT market.
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