Rising adaption of technological advancement in healthcare is driving the growth of Saudi Arabia Telemedicine Market, in the forecast period, 2022-2026.
The availability of the services and solutions for the consumer demands is supporting the growth of the market in the next five years. Increasing prevalence of chronic diseases and growing need for the patient management is expected to further substantiate the growth of the Saudi Arabia telemedicine market in the next five years. Additionally, growing telecommunication network in the country is also actively influencing the consumer’s preference toward telemedicine thus supporting the growth of the Saudi Arabia telemedicine market in the future five years of forecast, until 2026.
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The Saudi Arabia telemedicine market is segmented by component, deployment mode, type, application, end user, competitional landscape, and regional distribution. Based on deployment mode, the market is further segmented on the into on-premises, cloud. On-premise deployment method is expected to register maximum revenue shares in the future five years on the account of factors like direct access to care delivery. The on-premise care can be through telephonic (mobile) or visualized care (internet video calling) giving procedures.
These methods are cost effective, easier to access and more personal and comforts the patient in having assured of the care provisions through professionals. Cloud based services include technologically advanced solutions. The surging demands due to increased awareness among the patients and their relatives is driving the growth of the market segment and is expected to support the market growth too. With increasing cases of immediate care requirements and rapidly evolving artificial intelligence is driving the substantial growth of the market segment. These factors are anticipated to support the market growth in the future five years.
Based on component, the market is further bifurcated into hardware, software, and services. Hardware component is anticipated to be the largest revenue generating segment of the market. The market segment growth can be attributed to the rapidly increasing demand of the medical devices and pharmaceutical products available in the market. Moreover, products like medical peripheral devices, webcams, speakers, microphones, display screens, videoconferencing devices, laptops, and monitors are some of the portable devices that are although expensive, but still their upsurged demand supports the growth of the market in the upcoming five years.
Services sub-segment of the market is further bifurcated into tele-consulting, tele-monitoring, tele-education, tele-training, and others. Tele-monitoring differentiation is expected to register major revenue shares out of the other sub-segment on the account of increasing geriatric population that requires home-based assistance and related services. Whereas government initiatives for telehealth implementation projects and high demand for video conferencing solutions is expected to substantiate tele-consulting market segment and further support growth of the Saudi Arabia telemedicine market in the upcoming five years.
A partial list of market player in the Saudi Arabia telemedicine market includes Aster DM Healthcare, Sesneber International, GE Healthcare (Saudi Arabia), Medtronic Saudi Arabia, Cisco Saudi Arabia Limited Company, Cerner Corporation Saudi Arabia, Altibbi, among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“The Saudi Arabia telemedicine market experienced severe effects of COVID-19 in the past few years. The effects are expected to last for another one or two years. While the pandemic situation, inclined the consumers to make the purchases for the medical devices and pharmaceuticals for their home care, the rapid increase is expected to slow down a bit in future but pick up its pace again in the latter half of the forecast. New market players must invest into detailed research and technological advancement for their brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Telemedicine Market By Component (Hardware, Software, Service {Tele-Consulting, Tele-Monitoring, Tele-Education, Tele-Training, Others}) By Deployment Mode (On-Premises v/s Cloud) By Type (Telehospitals, Telehomes, mHealth) By Application (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, Others) By End User (Hospitals & Clinics, Homecare, Others) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia telemedicine 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 telemedicine market.
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