Healthcare IT market in Saudi Arabia is set to grow by USD 1.6032 billion from 2022 to 2027 | A remarkable increase in the detection of chronic diseases drives growth - Technavio
03 Sep 2023
NEW YORK, Sept. 3, 2023 /PRNewswire/ -- The
healthcare IT market in Saudi Arabia size is estimated to increase by
USD 1.6032 billion from 2022 to 2027, with a
CAGR of 9.06%, according to a recent market study by Technavio. A
remarkable increase in the detection of chronic diseases drives the growth of the healthcare IT market in Saudi Arabia. Diabetes is highly prevalent in the region and so is cardiovascular disease. Due to the increase, there is a growing need for healthcare IT solutions that can effectively manage such conditions. Solutions that play an important role in managing such chronic diseases include EHRs, telemedicine, and remote patient monitoring. Hence, such factors are expected to boost the growth of the Saudi Arabia healthcare IT market during the forecast period.
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Technavio has announced its latest market research report titled Healthcare IT Market in Saudi Arabia 2023-2027
The healthcare IT market in Saudi Arabia report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -
3M Co., Abbott Laboratories, athenahealth Inc., Bupa Arabia, Cognizant Technology Solutions Corp., Dassault Systemes SE, Dell Technologies Inc., Epic Systems Corp., General Electric Co., Informa PLC, International Business Machines Corp., King Faisal Specialist Hospital and Research Centers General Organization, Koninklijke Philips NV, Microsoft Corp., Ministry of National Guard Health Affairs, Oracle Corp., Siemens AG, Tata Sons Pvt. Ltd., and Wipro Ltd.
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Healthcare IT market in Saudi Arabia - Segmentation
The market is segmented by Component (Services, Software, and Hardware) and End-user (Healthcare providers and Healthcare payers)
The
services segment will be significant during the forecast period. The Saudi Arabian government recognizes the importance of technology in ensuring efficient and effective healthcare delivery. The segment growth can be attributed to factors such as the increasing popularity of services like HIE, which is a service that facilitates the exchange of patient health information between different healthcare providers. Furthermore, Health Information Management Systems Society (HIMSS) Analytics has recognized several hospitals in Saudi Arabia for their HIE capabilities. Hence, such factors drive the growth of the services segment of the healthcare IT market in Saudi Arabia during the forecast period.
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Healthcare IT market in Saudi Arabia - Market Dynamics
Significant Trends fueling the market growth
The
increase in the adoption of telemedicine and other digital health solutions is an emerging Saudi Arabia healthcare IT market trend.
Healthcare providers in the region improve patient care by adopting telemedicine and other digital healthcare solutions.
The trend is attributed to factors such as limited access to health services in rural areas and the need to address the challenges of the national health systems. Such applications help patients with chronic conditions who require ongoing care and monitoring.
Hence, the growth of such trends fuels the growth of the Saudi Arabia healthcare IT market during the forecast period.
Major Challenges impeding market growth
The
lack of skilled professionals poses a challenge to the growth of the Saudi Arabia healthcare IT market.
This shortage is due to the rising adoption of digital healthcare solutions in the country, and the demand for skilled healthcare IT professionals continues to grow.
Also, the broader economy is a significant challenge impeding the growth of Saudi Arabia's healthcare IT market.
Hence, such challenges impede the growth of the Saudi Arabia healthcare IT market during the forecast period.
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What are the key data covered in this healthcare IT market in Saudi Arabia report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the healthcare IT market in Saudi Arabia between 2023 and 2027
Precise estimation of the size of the healthcare IT market in Saudi Arabia and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the healthcare IT market across Saudi Arabia
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of healthcare IT market vendors in Saudi Arabia
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
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