Digital Health - Saudi Arabia

  • Saudi Arabia
  • The projected revenue in the Digital Health market for Saudi Arabia is expected to reach US$1,393.00m in 2024.
  • It is estimated that the revenue will show an annual growth rate (CAGR 2024-2029) of 10.01%, resulting in a projected market volume of US$2,244.00m by 2029.
  • The average revenue per user (ARPU) is expected to amount to US$106.10.
  • In global comparison, United States is anticipated to generate the highest revenue, reaching US$47,120.00m in 2024.
  • Among the various markets within Digital Health market, the largest market in Saudi Arabia is Digital Treatment & Care, with a total revenue value of US$914.20m in 2024.
  • Saudi Arabia's digital health market is witnessing a surge in telemedicine adoption, driven by the government's push for remote healthcare services.

Key regions: United States, China, Japan, Asia, Europe

 
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Analyst Opinion

The Digital Health market in Saudi Arabia is experiencing significant growth and transformation.

Customer preferences:
Customers in Saudi Arabia are increasingly turning to digital health solutions for convenience, accessibility, and efficiency. The younger population, in particular, is driving the demand for digital fitness and well-being apps to maintain a healthy lifestyle. Online doctor consultations are also gaining popularity among busy individuals who seek quick medical advice without the need for physical visits. Moreover, the digital treatment and care segment is attracting patients looking for remote monitoring and management of chronic conditions.

Trends in the market:
In Saudi Arabia, the digital health market is witnessing a surge in investments and partnerships between technology companies and healthcare providers. This trend is leading to the development of innovative solutions tailored to the local healthcare landscape. Additionally, the government's focus on digitizing the healthcare sector through initiatives like the Saudi Vision 2030 is creating a conducive environment for the adoption of digital health technologies. As a result, the market is seeing an increase in the number of mobile health apps, telemedicine platforms, and wearable devices catering to the diverse needs of consumers in the country.

Local special circumstances:
Saudi Arabia's unique demographic profile, with a large youth population and high smartphone penetration rates, is driving the adoption of digital health solutions. The cultural emphasis on privacy and modesty also plays a role in the preference for online doctor consultations, where individuals can seek medical advice discreetly. Furthermore, the country's expansive geography and limited healthcare infrastructure in remote areas make digital health services a practical and efficient alternative for reaching underserved populations.

Underlying macroeconomic factors:
The growing digital health market in Saudi Arabia is supported by favorable macroeconomic factors such as increasing healthcare expenditure, rising awareness of preventive healthcare, and a shift towards value-based care. The government's investments in healthcare infrastructure and technology are further propelling the market forward. Additionally, the COVID-19 pandemic has accelerated the adoption of digital health solutions as a means to ensure continuity of care and minimize in-person interactions, driving further growth in the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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