Saudi Arabia Healthcare IT Solutions Market - 2023-2030

Saudi Arabia Healthcare IT Solutions Market - 2023-2030

Saudi Arabia Healthcare IT Solutions Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing with a CAGR of XX % during the forecast period 2023-2030.

Healthcare IT solutions refer to a broad category of information technology tools, systems, and applications designed specifically for the healthcare industry. These solutions aim to improve the management, delivery, and accessibility of healthcare services by leveraging technology to streamline processes, enhance communication, and optimize data management.

The development and application of digital technology in healthcare is the main objective of Saudi Arabia's extensive Digital Health Strategy. In order to establish a cohesive and effective healthcare ecosystem, this involves the use of electronic health records (EHRs), telehealth services, and other IT solutions. Through bettering patient-provider communication, facilitating access to medical records, and enabling people to actively engage in their healthcare decisions, healthcare IT solutions are essential in advancing patient-centric care.

Market Dynamics: Drivers and Restraints

The increasing importance on telehealth

The increasing emphasis on telehealth had been a driving factor for healthcare IT solutions, especially in the wake of global events such as the COVID-19 pandemic. Telehealth platforms enable virtual consultations, remote monitoring, and improved access to healthcare services. Thus rise of telehealth platforms in the country helps to drive the market growth.

For instance, in June 2022, with the Saudi 2030 Vision, the Ministry of Health (MoH) has been on a quest of expanding the scope of telemedicine services offered in the Kingdom. Bupa Arabia added that all the efforts are in line with the initiatives of the MoH (Ministry of Health), and as part of the firm’s overall digital transformation objectives, Bupa Arabia for Cooperative Insurance has unveiled its latest Telehealth Platform that delivers value-added healthcare services such as doctor-patient video consultations (telemedicine) and appointment booking.

Additionally, in April 2022, UAE-based digital health platform Altibbi, which raised $44 million in series B funding last month, plans to expand its offerings with the launch of new diagnostic services in Saudi Arabia and Egypt. The company focusing on the telehealth service in Saudi Arabia and Egypt. This round of funding will enable us to launch drug delivery and diagnostic services in both countries. Thus above factors helps to accelerates the market growth.

Market Dynamics: Restraint

Data Security and Privacy Concerns

Healthcare IT solutions involve the storage and exchange of sensitive patient information. Concerns about data breaches, cyberattacks, and unauthorized access can hinder the adoption of these solutions. Healthcare organizations must invest in robust cybersecurity measures to address these concerns. Healthcare IT solutions, particularly electronic health records (EHRs) and health information exchange systems, store vast amounts of sensitive patient data.

The risk of data breaches is a major concern, as unauthorized access to patient records can lead to identity theft, financial fraud, or other malicious activities. High-profile data breaches can damage the reputation of healthcare organizations and reduce trust in IT solutions. The healthcare industry is a prime target for cyberattacks due to the valuable nature of healthcare data.

Ransomware attacks, malware, and other cybersecurity threats can disrupt healthcare IT systems, leading to downtime and potential compromise of patient data. This constant threat requires continuous investment in cybersecurity measures to safeguard healthcare IT infrastructure. Thus above factors restrain the market growth.

Segment Analysis

The Saudi Arabia healthcare IT solutions market is segmented based on type, delivery mode, component, application and end user.

The Remote Patient Monitoring (RPM) from the Type segment accounted for approximately 39.2% of the Saudi Arabia Healthcare IT Solutions market share

The rising incidences of chronic diseases (Dementia), growth in the geriatric population, and growing preference for home and remote monitoring are the major factors driving the market growth. For instance, dementia is characterized by a decline in cognitive function. RPM systems can facilitate continuous monitoring of cognitive abilities, allowing healthcare providers to track changes over time. This continuous monitoring can provide valuable insights into the progression of dementia and help in adjusting treatment plans accordingly.

Additionally, according to article published in NIH 2021, estimated the prevalence of dementia in Saudi Arabia was estimated to be around 6.3%. Remote monitoring can alleviate the burden on caregivers, who often play a significant role in the care of individuals with dementia. RPM systems can provide real-time data to healthcare providers, allowing for proactive management and reducing the need for constant physical presence, particularly in home-based care settings.

Additionally, the rise of government intatives helps to boost the market growth. For instance, in May 2022, Tamer, the Middle-East's leading healthcare distribution company, had agreed a 5-year deal to bring Huma's market leading technology platform to power 'hospitals at home' with remote patient monitoring to the 34 million people living in the Kingdom of Saudi Arabia. The new health programme will begin with support for patients with diabetes and cardiovascular disease. Thus above factors helps to boost the segment growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has accelerated the adoption of telehealth solutions worldwide. In Saudi Arabia, as in other regions, there may be an increased demand for telehealth platforms, virtual consultation tools, and remote patient monitoring systems to ensure continuity of care while minimizing physical contact.

The need for efficient and accessible healthcare information has been emphasized during the pandemic. The demand for Electronic Health Records (EHRs) and other digital health solutions that facilitate data sharing, interoperability, and remote access to patient information may see an uptick. The pandemic has led to changes in healthcare policies and regulations to accommodate the use of digital health tools. Saudi Arabia might see updates in policies to support and regulate the adoption of Healthcare IT Solutions.

Market Segmentation

By Type
• Electronic Health Records (EHR) Systems
• Health Information Exchange (HIE) Systems
• Telehealth and Telemedicine Solutions
• Patient Engagement Solutions
• Remote Patient Monitoring (RPM) Systems
• Others

By Delivery Mode
• Cloud-Based
• On-Premise

By Component
• Software
• Hardware
• Services

By Application
• Non-clinical Solution
• Clinical Solution

By End-User
• Hospitals and Clinics
• Ambulatory Care Centers
• Pharmacies
• Others

Competitive Landscape

The major country players in the market include Oracle Corporation, Infor, InterSystems, Epic Systems Corporation, Dell Technologies, Cognizant, Tamer, Agility, Labayh, Clinicy and among others.

Key Developments
• In October 2023, Agility signed a memorandum of understanding with the ministry of investment of Saudi Arabia (MISA) to explore how to strengthen the Saudi healthcare sector by bringing cutting-edge health technology and services to Saudi; while supporting new job creation and knowledge transfer. The MoU aims to broaden Saudis’ access to preventative health services and technology to combat chronic diseases such as cardiovascular disease and breast cancer.
• On February 12, 2023, Philips, a global leader in health technology, has entered into an agreement with Wipro Limited, a leading technology services and consulting company, to adapt Philips EMR to provide a tailored electronic medical record (EMR) solution for the needs of healthcare providers in the Kingdom of Saudi Arabia. Philips EMR offers one integrated solution across all care settings through a single platform and database that enables centralized management of clinical, operational and administrative processes.

Why Purchase the Report?
• To visualize the Saudi Arabia healthcare IT solutions market segmentation based on type, delivery mode, component, application and end-user as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of healthcare IT solutions market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Saudi Arabia healthcare IT solutions market report would provide approximately 69 tables, 58 figures and 187 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Type
3.2. Snippet by Delivery Mode
3.3. Snippet by Component
3.4. Snippet by Application
3.5. Snippet by End-User
4. Market Dynamics
4.1. Impacting Factors
4.1.1. Drivers The increasing importance on telehealth The rising the technological advancements
4.2. Restraints Data Security and Privacy Concerns
4.2.2. Opportunity
4.2.3. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Unmet Needs
5.6. DMI Opinion
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Type
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
7.1.2. Market Attractiveness Index, By Type
7.2. Electronic Health Records (EHR) Systems *
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Health Information Exchange (HIE) Systems
7.4. Telehealth and Telemedicine Solutions
7.5. Patient Engagement Solutions
7.6. Remote Patient Monitoring (RPM) Systems
7.7. Others
8. By Delivery Mode
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Delivery Mode
8.1.2. Market Attractiveness Index, By Delivery Mode
8.2. Cloud-Based*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. On-Premise
9. By Component
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
9.1.2. Market Attractiveness Index, By Component
9.2. Software *
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Hardware
9.4. Services
10. By Application
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10.1.2. Market Attractiveness Index, By Application
10.2. Non-clinical Solution *
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Clinical Solution
11. By End-User
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.1.2. Market Attractiveness Index, By End-User
11.2. Hospitals and Clinics*
11.2.1. Introduction
11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
11.3. Ambulatory Care Centers
11.4. Pharmacies
11.5. Others
12. Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Company Profiles
13.1. Oracle Corporation *
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Financial Overview
13.1.4. Key Developments
13.2. Infor
13.3. InterSystems
13.4. Epic Systems Corporation
13.5. Dell Technologies
13.6. Cognizant
13.7. Tamer
13.8. Agility
13.9. Labayh
13.10. Clinicy
14. Appendix
14.1. About Us and Services
14.2. Contact Us

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