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

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A remarkable increase in the detection of chronic diseases drives the growth of the healthcare IT market in Saudi Arabia.

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Retrieved on: 
Sunday, September 3, 2023
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Tags: 
Analytics, Prevalence, Abbott Laboratories, Hospital, Patient, Conditional sentence, R, Health, Geography, Component, Telehealth, Informa, Epic Systems Corp. v. Lewis, BLE, Service, HIE, Cardiovascular disease, UWB, English v. General Electric Co., Electronic health record, USD, Real-time locating system, Oracle Corporation, Microsoft, Patient safety, Siemens, Hardware, Growth, World Games, RFID, Health care, Wi-Fi, HIMSS, Government, IBM, Laboratory, King Faisal Specialist Hospital and Research Centre, RTLS, CAPEX, ROW, Deployment, Diabetes, Pharmaceutical industry, Arms industry, Pet industry, Software
Geotags: 
NEW YORK, NORTH AMERICA, ASIA, EUROPE, SAUDI ARABIA
Organisation: 
TECHNAVIO
Summary
Key Points: 
  • A remarkable increase in the detection of chronic diseases drives the growth of the healthcare IT market in Saudi Arabia.
  • Hence, such factors are expected to boost the growth of the Saudi Arabia healthcare IT market during the forecast period.
  • Hence, the growth of such trends fuels the growth of the Saudi Arabia healthcare IT market during the forecast period.
  • The global healthcare information software market size is estimated to grow by USD 7,279.27 million at a CAGR of 4.98% between 2022 and 2027.


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

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. Discover some insights on market size before buying the full report -Request a sample report

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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The global healthcare information software market size is estimated to grow by USD 7,279.27 million at a CAGR of 4.98% between 2022 and 2027. Technavio has segmented the market into Application, Deployment, and Geography. The rising prevalence of chronic diseases is the key driver for the growth of the market. 

Healthcare IT Market In Saudi Arabia Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.06%

Market growth 2023-2027

USD 1,603.18 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.0

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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.

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