KSA Health Tech Market Outlook to 2027

KSA Health Tech Market Outlook to 2027

The report provides a comprehensive analysis of the potential of Health Tech Market in KSA. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

Its market segmentations include by product segment, by order split, by order platform, by cities, by mode of consultation, by type of doctor, by specialties, by type of product and by payment type; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Market Size of KSA Health Tech Market has shown increasing trend from 2017 to 2022. However, COVID was the biggest driver for a significant growth rate in KSA Health Tech market where factors like emerging aging population, increased healthcare expenditure and extensive digital enablers have been driving the Health Tech Market.
The number of orders placed by mobile application are expected to rise by 2027 as the market players are expected to invest in user friendly mobile applications as it convenient and easily accessible.
An audio consultation with psychologists, dieticians, etc. will largely increase in future and will be preferred for quick consultations while video consultation will be preferred majorly for dermatology.
Due to abundance of opportunities in the Healthcare IT solutions market both local and foreign players are expected to enter the market in KSA.

Key Trends by Market Segment:

By Order Platform: The number of orders placed by mobile application are higher than web browser as the market players is investing in user friendly mobile applications as it convenient and easily accessible.

By Mode of Consultation: Audio consultations are highly preferred as it provides more privacy to the patients. It is highly used in remote areas and for NCDs and psychology related consultations.

By Type of Product: KSA has more than 6000 clinics resulting in more revenue generations from Clinical Management System.

Future Outlook:

Market Size of KSA Health Tech Market is expected to show increasing trend from 2022 to 2027. This is owing to high smartphone penetration rate, cost effective, convenient and time saving process and availability of medicines. With life expectancy in KSA projected to increase to 81.8 years by 2050, and population to grow to 39.4 Mn by 2030, increased investment in infrastructure and innovation is expected to drive online health tech sector.

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