|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
906 .33 million
|
|
CAGR
(2023-2028)
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7.47%
|
|
Fastest
Growing Segment
|
Web-based
|
|
Largest
Market
|
Riyadh
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Market Overview
Saudi
Arabia Telehealth Market has valued at USD 906 .33 million in 2022 and is
anticipated to project robust growth in the forecast period with a CAGR of 7.47%
through 2028. The rising penetration of the internet and innovation in
smartphones is enabling to address the gaps in the delivery and availing of
telehealth services conveniently. Moreover, the demand for telehealth services
witnessed tremendous growth over the past year due to the COVID-19 pandemic and
the restrictions imposed to curb the infection. COVID-19 hindered the delivery
of healthcare services, which enabled most healthcare facilities to shift from
traditional to virtual care methods. Furthermore, the growing need to monitor
health and wellness to manage chronic diseases virtually is driving the
industry's growth.
Key Market Drivers
Increasing
Adoption of Smartphones and Easy Availability of Technologically Advanced
Devices
With
the increasing adoption of smartphones and easy availability of technologically
advanced devices, innovators have started investing to make the most of the
current situation of the industry, by focusing on delivering quality healthcare
& comfort through various mobile platforms, which would help patients track
their fitness regimes and obtain answers to medical inquiries over the phone,
WhatsApp, or through several mobile applications. For instance, several apps,
such as Teladoc Health, Doctor Anywhere, Doctor On Call, and Click Care, have
been introduced to help patients book appointments, track their consultations
& medical prescriptions, and store their healthcare information over course
of the treatment. Such instances are further boosting the market growth.
The
introduction of the web- and cloud-based platforms, which deliver virtual care
to users are expected to boost the industry growth. For instance, in August
2021, CVS and Teladoc partnered to launch CVS Health’s Aetna Virtual Primary
Care. Through this partnership, CVS Health will utilize Teladoc’s physician
network and providers to deliver virtual care services to patients remotely
through video and telephonic consultations, which will reduce the dependency of
the patients on in-person consultations and visits. The increasing prevalence
of cancer globally is expected to be a key contributor to the growth of the
market. This increasing prevalence is anticipated to strain the healthcare
systems, most of which are witnessing a shortage of healthcare professionals,
such as doctors and nurses; which is anticipated to drive the adoption of the
services globally.
Telehealth
Focuses on Increasing the Accessibility of Basic Healthcare Services To
Patients With Enhanced Safety And Quality
According
to the WHO, healthcare facilities are projected to witness a shortage of 15
million healthcare professionals by 2030; this is expected to drive the
adoption of AI for the treatment and diagnosis of patients and improve the
accessibility of healthcare services in remote locations & reduce
healthcare expenses. Telehealth helps deliver healthcare services digitally and
virtually to patients at remote locations. The technology helps deliver
patient-centric care remotely to the patients, thereby reducing the need for
emergency department visits and reducing the rate of hospitalizations. Despite
the advantages, concerns regarding cybersecurity, data privacy, and the high
cost of implementation of the services are expected to restrain the industry's
growth. Moreover,
telehealth focuses on increasing the accessibility of basic healthcare services
to patients with enhanced safety and quality. Telehealth applications have been
successful in delivering appropriate care to patients while reducing adverse
events and preventing the symptoms to go unnoticed. Innovations in digital
healthcare, such as smart wearables, the internet of things, advanced
healthcare analytics, better internet connectivity, and the rising penetration
of smartphones globally are significantly shaping the growth of the industry.
Furthermore, the integration of AI and ML algorithms is enhancing the
personalization of healthcare services.
.
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Key Market Challenges
Regulatory
and Licensing Issues
Developing
clear and comprehensive regulations for telehealth is a complex task. The Saudi
Arabian government has made progress in this area, but there is a need for
continued refinement and adaptation to ensure the protection of patients and
the quality of care provided. Telehealth involves the exchange of sensitive
patient information. Ensuring the privacy and security of patient data is
crucial, and healthcare providers must implement robust cybersecurity measures
to safeguard patient information from data breaches and cyberattacks.
Digital
Infrastructure: While Saudi Arabia has made significant investments in digital
infrastructure, there are still areas with limited access to high-speed
internet, particularly in rural regions. Expanding and improving internet
connectivity is essential for ensuring that telehealth services are accessible
to all.
Interoperability:
Ensuring that telehealth platforms and electronic health records are
interoperable is essential for the seamless exchange of patient data between
different healthcare providers. Achieving standardization and compatibility can
be a complex task.
Healthcare
Workforce Training
Healthcare
providers need training to effectively use telehealth technologies and provide
high-quality care through remote consultations. Training and education programs
must be developed and implemented to ensure that healthcare professionals are
proficient in telehealth practices. Patient and provider attitudes and cultural
factors can influence the adoption of telehealth. Some patients and healthcare
professionals may be resistant to change or prefer in-person interactions.
Addressing these cultural and societal factors is crucial for broad acceptance.
Insurance
and Reimbursement: Ensuring that insurance companies and the healthcare system
adequately reimburse for telehealth services is essential. Establishing clear
reimbursement policies and codes for telehealth consultations is an ongoing
challenge.
Malpractice
Liability: The legal framework for malpractice liability in telehealth needs to
be clearly defined. In the event of medical errors or issues during
teleconsultations, determining liability and responsibility can be complex.
Technological
Access
Not
all patients have access to the necessary technology (smartphones, computers,
etc.) to participate in telehealth consultations. Efforts are required to
bridge the digital divide and ensure that underserved populations can also
benefit from telehealth services. Ensuring that the quality of care provided
through telehealth is on par with in-person care is a priority. Standards and
guidelines for telemedicine practices and telehealth quality assessment are
vital in this regard.
Competition
and Market Saturation: As the telehealth market grows, competition among
providers can increase. Ensuring fair competition and preventing market
saturation while maintaining high standards of care is a challenge.
Emergency
and Critical Care Limitations: Telehealth may have limitations in emergency and
critical care situations where in-person intervention is required. Developing
protocols for seamlessly transitioning between telehealth and in-person care is
necessary.
Addressing
these challenges will be crucial for the continued growth and success of the
telehealth market in Saudi Arabia. Government support, regulatory clarity, and
ongoing investments in digital infrastructure and healthcare workforce training
will play pivotal roles in overcoming these obstacles and advancing telehealth
services in the country.
Key Market Trends
Government Support
The Saudi Arabian government has been actively
promoting the use of telehealth services to improve healthcare accessibility
and quality. Initiatives like the Saudi Vision 2030 plan emphasize the
importance of digital healthcare solutions, which has created a favorable
environment for the telehealth market.
Increasing Healthcare Demand: A growing population
and an increasing burden of chronic diseases have created a higher demand for
healthcare services in Saudi Arabia. Telehealth can help bridge the gap in
healthcare access and improve the efficiency of healthcare delivery.
Advancements in Technology: The advancement of
technology, such as high-speed internet and smartphone penetration, has made it
easier for patients and healthcare providers to access telehealth services.
Mobile apps and online platforms for consultations and monitoring are becoming
more widespread.
COVID-19 Pandemic: The COVID-19 pandemic accelerated
the adoption of telehealth services globally, and Saudi Arabia was no
exception. The pandemic highlighted the importance of remote healthcare options
and encouraged both patients and healthcare providers to embrace telehealth
solutions.
Rural Healthcare Access
Telehealth is particularly beneficial in rural areas
where healthcare facilities may be limited. Patients in remote regions can
access healthcare services through teleconsultations, reducing the need to
travel long distances for medical care.
Cost-Efficiency: Telehealth can reduce healthcare
costs for both patients and providers. Patients can avoid travel expenses and
save time, while healthcare facilities can optimize resources and reduce
overhead costs.
Provider Shortages: There is a shortage of
healthcare professionals in certain specialties in Saudi Arabia. Telehealth can
help alleviate this issue by allowing specialists to consult with patients
remotely.
Patient Convenience: Telehealth offers convenience
for patients who can schedule virtual appointments at their preferred times
without waiting for long periods at healthcare facilities. It also enables
follow-up care without the need for in-person visits.
Evolving Regulatory
Framework
The Saudi Arabian government has been adapting its
regulatory framework to accommodate and support telehealth services. This
includes ensuring data privacy and security, licensing telehealth providers,
and establishing standards for telemedicine practice.
Investment and Innovation: The telehealth market has
attracted significant investments from both local and international companies.
This influx of capital has encouraged innovation and the development of new
telehealth technologies and solutions.
These drivers have contributed to the growth of the
telehealth market in Saudi Arabia. As technology and healthcare infrastructure
continue to improve, it is expected that telehealth will play an increasingly
vital role in the healthcare system of the country, providing better access to
care for its residents.
Segmental Insights
Delivery Mode Insights
The
web-based delivery mode segment held the largest share of 45.7% of the overall
revenue in 2022. The emergence of various virtual care and web-based telehealth
applications and the growing adoption of web-based delivery to offer patients
direct access to healthcare services are some of the factors that contributed
to the segment's growth. Growing internet penetration and innovations in the
smartphone industry are further boosting the adoption of the web-based delivery
segment. Moreover, the cost-effectiveness and seamless user interface offered
by web-based applications are further increasing the adoption rate.
The
cloud-based delivery segment is anticipated to witness the fastest growth rate
during the forecast period owing to the increasing adoption of cloud-based
applications by healthcare providers and patients and the introduction of
technologically advanced solutions. Moreover, seamless data storage and
recovery, easy accessibility, high bandwidth, and enhanced security provided by
cloud-based applications are contributing to the growth of the segment.
Increasing instances of data breaches on the web-based and on-premise
telehealth platforms have augmented the demand for the cloud-based delivery
segment. Cloud-based solutions enable patient monitoring and teleconsultation
for individuals, which require immediate medical assistance in rural and remote
locations.
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Regional Insights
Economic
and Healthcare Center
Riyadh
is not only the political capital but also the economic and healthcare center
of Saudi Arabia. It is home to numerous healthcare facilities, both public and
private, which positions it as a key location for the adoption of telehealth
services.
Population
Density: Riyadh has a significant population, and its urban density makes it a
prime area for telehealth service adoption. The concentration of people allows
telehealth providers to reach a larger number of potential patients and
healthcare professionals.
Healthcare
Infrastructure
Riyadh
boasts a well-developed healthcare infrastructure with advanced hospitals,
clinics, and medical universities. These institutions are more likely to adopt
and integrate telehealth solutions due to their resources and willingness to
embrace new technologies.
Government
Initiatives: The Saudi Arabian government, as part of its Vision 2030 plan, has
shown strong support for telehealth adoption. Riyadh, as the political capital,
often serves as the testbed for such government initiatives, receiving more
attention and resources in the implementation of telehealth projects.
Economic
Resources: Riyadh has a strong economy and a high GDP, which translates into
greater financial resources available for investment in healthcare technology,
including telehealth. This economic stability allows for the development and
growth of telehealth startups and established companies.
Specialist
Concentration
Riyadh
houses many specialized healthcare providers and experts in various medical
fields. Telehealth services are particularly effective for connecting patients
with specialists, and Riyadh's concentration of specialists makes it an ideal
location for such services.
Higher
Education and Research Centers: Riyadh has several prestigious universities and
research centers, which can contribute to the development of cutting-edge
telehealth technologies and the training of healthcare professionals in
telemedicine practices.
Urban
Lifestyle: Riyadh's urban lifestyle often leads to time constraints and busy
schedules for its residents. Telehealth services, which offer the convenience
of remote consultations, are well-suited to meet the needs of the city's
population.
Networking
and Collaboration Opportunities
Being
a major city, Riyadh offers ample networking opportunities for telehealth
professionals, facilitating collaborations and partnerships in the telehealth
industry. Accessibility and Connectivity: Riyadh typically has better access to
high-speed internet and digital connectivity, which is crucial for the success
of telehealth services. Patients and healthcare providers in Riyadh are more
likely to have the required technology and infrastructure in place for
telehealth consultations.
While
Riyadh is dominating the telehealth market in Saudi Arabia, it's essential to
recognize that the benefits of telehealth can extend to other regions of the
country, especially those with limited access to healthcare services. Efforts
are being made to expand telehealth services to underserved areas as well.
Riyadh's leadership in this space is a positive step towards ensuring the
overall advancement of healthcare delivery in the country.
Recent Developments
- The
MoH recently launched the Saudi Telehealth Network initiative to connect
specialized health care facilities with primary health care centers and
hospitals in remote areas using telemedicine systems to enhance the quality and
reach of healthcare services. Plus the
MOH launched the use of smartphone applications, such as Seha, Tetamman, Tabaud
and Tawakkalna, to support its use in the healthcare sector.
- U.S.
companies are encouraged to explore this emerging industry as there is a great
demand for technology and expertise in the Saudi healthcare sector.
Key Market Players
- Koninklijke
Philips N.V
- GE Healthcare
- Cerner Corporation (Oracle)
- Siemens Healthineers
- Medtronic
- Teladoc Health Inc.
- American Well
- MD Live
- Doctor On Demand
- Global Med
|
By
Product Type
|
By
Delivery Mode
|
By Region
|
|
|
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- Riyadh
- Makkah
- Eastern Province
- Rest of Saudi Arabia
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Report Scope:
In this report, the Saudi Arabia Telehealth
Market has been
segmented into the following categories, in addition to the industry trends
which have also been detailed below:
- Saudi Arabia Telehealth Market,
By Product Type:
o Software
o Services
- Saudi Arabia Telehealth Market,
By Delivery Mode:
o Cloud-based
o Web-based
- Saudi Arabia Telehealth Market,
By Region:
o Riyadh
o Makkah
o Eastern Province
o Rest of Saudi Arabia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Saudi
Arabia Telehealth Market.
Available Customizations:
Saudi Arabia Telehealth Market report with
the given market data, Tech Sci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Saudi Arabia Telehealth Market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]