Saudi Arabia Patient Monitoring Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Saudi Arabia Patient Monitoring Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Saudi Arabia Patient Monitoring Market is expected to register a CAGR of nearly 6.72%, during the forecast period (2022-2027).

The outbreak of COVID-19 in the country has affected the studied market in many ways it has limited the intensive care unit (ICU) beds and ventilation sites, there was a necessity to postpone elective and/or complex cardiac surgeries, a shortage of healthcare workers and sick healthcare staff was unavoidable and limited the number of attendees in heart-team meetings. According to the study “Cardiovascular Risk Factors Among Patients Infected with COVID-19 in Saudi Arabia” published in April 2021, patients infected with COVID-19 were highly prevalent cardiovascular diseases. The major risk factor associated with these diseases in COVID-19 patients were pneumonia and increased length of stay in the hospital. This study suggests that COVDI-19 patients were at higher risk of cardiovascular diseases which is expected to impact the market during the study period. The COVID-19 pandemic was a challenge for the healthcare system of the country. Due to the lack of resources for the COVID-19 patients, other resources were reutilized for them. This halted all the other procedures. Therefore, steps taken by the government to tackle the spread of COVID-19 in the country will resume the conditions including cardiovascular surgeries to the pre-pandemic level. For example, in April 2020, The Kingdom of Saudi Arabia supported Gavi, the Vaccine Alliance with USD 150 million to support their response to the COVID-19 pandemic. This will help in supporting emergency and preparedness response, developing and deploying new diagnostics, therapeutics and vaccines, and others, which will significantly impact the market over the study period. Remote patient monitoring using implantable cardiac devices is a safe alternative to in-person-only visits which led to enhanced patient satisfaction and improved clinical outcomes. This in turn gave opportunities to various manufacturers to develop such wearable cardiac devices. Therefore, due to the aforementioned factors, the studied market was impacted and is expected to grow over the forecast period.

The Saudi Arabia patient monitoring market will show rapid growth due to the rising incidences of chronic diseases, growth in the geriatric population, and growing preference for home and remote monitoring. As per a study ‘Evaluation of knowledge of Alzheimer's disease among health university students in Riyadh, Saudi Arabia’, published in August 2020, the prevalence of dementia in Saudi Arabia was estimated to be around 6.4%. Factors, such as age, low level of education, hypertension, and cardiovascular disease were risk factors for cognitive impairment. Similarly, according to the study “Awareness and prevalence of coronary artery disease risk factors among Saudi adults in Dawadmi, Riyadh province: A cross-sectional study” published in November 2020, the prevalence of coronary artery disease (CAD) symptoms was 25.1% and the complications associated to the diseases comprised of 72.7%. In addition, the prevalence of a family history of CAD was 9.3%, overweight/obesity was 58.6%, physical inactivity was 79.1%, and smoking was 24.1%. Hence, it is observed that the prevalence of cardiovascular diseases and their risk factors are considerably high among the participants, which increases the demand for diagnosis and treatment of these diseases, which will probably lead the market towards growth. Thus, the abovementioned factors are expected to increase market growth.

However, the high cost of technology is expected to hinder market growth.

Key Market TrendsCardiology is Expected to Grow Fastest During the Forecast Period

The increase in cardiovascular diseases, along with the increasing prevalence of obesity, the rising geriatric population, and continuous developments in the telemedicine approach is likely to propel the market growth. For instance, the study “Stroke Risk Factor Awareness Among Populations in Saudi Arabia” published in August 2021, found that the incidence of stroke in Saudi Arabia is 43.8 per 100,000. Personal history of hypertension was chosen as a risk factor by the majority of the participants (81.7%) followed by a personal history of stroke (74.1%) and personal history of dyslipidemia (57.2%). This study indicates that there was a low level of awareness regarding cardiovascular diseases and their risk factors which leads to the high prevalence of the disease. This then boosts the demand for the treatment of several cardiovascular diseases, hence promoting the market. Additionally, as per the study “Prevalence of cardiometabolic risks and associated factors in a geriatric population in Saudi Arabia” published in January 2022, diabetes is one of the major risk factors for cardiovascular diseases in the country. Therefore, the high prevalence of diabetes is expected to increase the incidence rate of cardiovascular diseases in the country which will thereby grow the market. For instance, according to a February 2022 update by the World Diabetes Federation, the prevalence of diabetes in the country is 17.7% which is considerably high, thereby boosting the market. Digital health innovation is a key part of the vision, with the Ministry of Health aiming for 70% of citizens to have unified digital records by 2020 and improvements in Information Technology (IT) to significantly strengthen the quality of services offered by healthcare providers. Thus, the abovementioned factors are likely to increase market growth.

Competitive Landscape

The Saudi Arabia patient monitoring market is moderately fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the major players in the market are Abbott Laboratories, Becton, Dickinson and Company, Drägerwerk AG, GE Healthcare, and Medtronic PLC among others.

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