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.
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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