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The Saudi Arabia healthcare IT market size is estimated to grow by USD 1,603.18 million at a CAGR of 9.06% between 2022 and 2027.
Chronic diseases such as diabetes are common in Saudi Arabia. Chronic diseases are long-term, persistent illnesses that require regular medical attention and management. Increased detection and diagnosis will control the spread of such chronic diseases. This is primarily achieved through modern healthcare IT technologies such as electronic health records (EHRs). EHRs allow healthcare professionals to access and update patient information quickly and easily, which can be particularly important for patients with chronic conditions who require ongoing care. Also, telemedicine can help patients with chronic conditions to access healthcare services from their homes. Moreover, for managing chronic conditions effectively, remote patient monitoring is particularly helpful. This technology allows healthcare professionals to monitor patients' vital signs and other health metrics remotely. Thus, the above-mentioned factors are expected to increase the demand for healthcare IT services, which will boost the growth of Saudi Arabia healthcare IT market during the forecast period.
Technavio has segmented the market into components and end-user.
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The market share growth by the services segment will be significant during the forecast period. The Saudi Arabia healthcare IT market has been growing rapidly as the government recognizes the importance of technology in ensuring efficient and effective healthcare delivery. There are several services that are currently being offered in the market, including electronic health records, telemedicine, health information exchange (HIE), and patient engagement solutions.
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The services segment was valued at USD 1,702.69 million in 2017. This growth can be attributed to the increasing popularity of services like HIE. HIE is a service that facilitates the exchange of patient health information between different healthcare providers. This technology is crucial in ensuring that patient data is accessible to the right people at the right time, particularly when patients are receiving care from multiple providers. Health Information Management Systems Society (HIMSS) Analytics has recognized several hospitals in Saudi Arabia for their HIE capabilities, including King Abdullah Medical City in Makkah and King Faisal Specialist Hospital and Research Centre in Riyadh.
In the Saudi Arabia healthcare IT market, healthcare providers are increasingly adopting technology to improve patient care. From electronic health records to telemedicine, healthcare providers implement healthcare IT services and solutions into their practices. For instance, King Fahad Medical City (KFMC), a leading regional hospital, implemented several healthcare IT solutions to improve patient care and outcomes. The Ministry of Health is also utilizing telemedicine to provide remote patient consultations, enabling patients in remote areas to access healthcare services. Also, hospitals and governmental organizations, and small and medium-sized clinics are deploying healthcare IT solutions. One of their notable initiatives is their EHR system, which allows doctors and nurses to access patient records from any location within the hospital. This enables healthcare providers to make timely and informed decisions about patient care. Hence, such factors are expected to boost the growth of the healthcare providers segment in the Saudi Arabia healthcare IT market during the forecast period.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
3M Co.: The company offers healthcare IT solutions such as 3M 360 Encompass Computer Assisted Coding and 3M 360 Encompass Professional System.
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
A remarkable increase in the detection of chronic diseases is the key driver shaping the growth of the Saudi Arabia healthcare IT market. The prevalence of diabetes in Saudi Arabia is one of the highest in the world. Another chronic disease that is becoming more common in Saudi Arabia is cardiovascular disease. As the number of chronic diseases continues to increase in Saudi Arabia, there is a growing need for healthcare IT solutions that can effectively manage such conditions. Healthcare IT solutions such as EHRs, telemedicine, and remote patient monitoring can all play important roles in managing chronic diseases.
Moreover, these solutions are helping patients in terms of use and access the healthcare services from the comfort of their homes. Also, these solutions reduce the need for travel and minimize the risk of exposure to infectious diseases. Hence, such factors are expected to raise the demand for healthcare IT services, which is expected to boost the growth of the Saudi Arabia healthcare IT market during the forecast period.
The increase in the adoption of telemedicine and other digital health solutions is the primary trend influencing the growth. Healthcare providers in Saudi Arabia are increasingly adopting telemedicine and other digital healthcare solutions to improve patient care. This trend is driven by several factors, such as limited access to health services in rural areas and the need to address the challenges of the national health systems.
For instance, the Sehaty program, launched by the Saudi Ministry of Health, enables patients to remotely consult with healthcare providers and access their medical records through a mobile application. In addition, the adoption of digital health solutions such as electronic health records and mobile health (mHealth) applications has also been rising in Saudi Arabia. These applications are mainly helpful for patients with chronic conditions who require ongoing care and monitoring. Hence, such factors are expected to boost the market's growth during the forecast period.
The lack of skilled professionals is the major challenge hindering the growth of the Saudi Arabia Healthcare IT market. Healthcare organizations face significant difficulties due to a talent shortage in the market. Owing to the rising adoption of digital healthcare solutions in the country, the demand for skilled healthcare IT professionals continues to grow.
Moreover, the lack of relevant training and education programs is the primary reason for the talent gap in the market. Another factor driving the talent gap in the Saudi Arabia healthcare IT market is the shortage of female candidates. Furthermore, the broader economy is a significant challenge impeding the growth of Saudi Arabia's healthcare IT market. Therefore, such factors are expected to impede the market's growth during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Saudi Arabia Healthcare IT Market Customer Landscape
The Saudi Arabia healthcare IT market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Saudi Arabia Healthcare IT Market Scope |
|
Report Coverage |
Details |
Page number |
134 |
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. |
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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 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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