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Saudi Arabia Health Tech Market Booms: $5.7 Billion by 2027 Fueled by Innovation & Access: Ken Research

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GURUGRAM, India, Feb. 15, 2024 /PRNewswire/ — Prepare for a digital transformation in healthcare! Saudi Arabia’s health tech market is experiencing a surge, fueled by government initiatives, rising smartphone penetration, and a growing demand for accessible and efficient healthcare solutions. Ken Research’s “KSA Health Tech Market” report predicts a promising 12.2% CAGR, translating to a substantial $5.7 billion market size by 2027. This press release unlocks the key drivers, challenges, and exciting prospects shaping this dynamic landscape. 

 

Market Overview: Redefining Healthcare, Empowering Lives 

Beyond simply offering digital solutions, the Saudi health tech market plays a crucial role in improving healthcare access, enhancing patient experience, and driving cost efficiencies within the healthcare system. In 2022, the market reached a size of $2.5 billion, and it’s on track for remarkable growth, driven by: 

Government Vision: Vision 2030 prioritizes health tech adoption, promoting innovation and supporting startups in the sector. Rising Smartphone Penetration: Widespread smartphone usage fuels accessibility and convenience for telemedicine, health apps, and digital platforms. Focus on Accessibility & Equity: Expanding digital healthcare solutions aim to bridge the gap in healthcare access, especially in remote areas. Growing Demand for Personalized Care: Patients increasingly seek personalized and preventive healthcare solutions, which digital tools can provide. 

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Market Segmentation: Diverse Needs, Tailored Solutions 

The report delves into the diverse segments of the Saudi health tech market, offering a comprehensive view: 

Technology Applications: Telehealth & virtual consultations lead the market (40%), followed by e-pharmacies (30%), health data analytics (20%), and wearable devices (10%). Target Population: Chronic disease management dominates (50%), followed by mental health solutions (25%), wellness & fitness apps (15%), and personalized medicine (10%). Business Models: B2C solutions hold the largest share (60%), but B2B solutions for hospitals and clinics are growing rapidly (40%). 

Competitive Landscape: Local & Global Players Collaborate 

The market features a mix of established regional players, global giants, and innovative startups: 

Regional Leaders: Careem Health, Babylon, and Tabarak e-services cater to the specific needs of the region and offer tailored solutions. Global Giants: Medtronic, Philips, and Roche are leveraging their global expertise to introduce advanced technologies and solutions. Emerging Startups: Innovative startups like Malaffi and MySehat are disrupting the market with niche offerings and data-driven approaches. 

Challenges: Navigating the Roadblocks to Healthcare Innovation 

Despite the promising outlook, some challenges need to be addressed: 

Regulatory Hurdles: Complex regulations and approval processes can hinder innovation and market entry for new players. Cybersecurity Concerns: Protecting sensitive patient data requires robust cybersecurity measures and patient awareness. Digital Literacy Gap: Bridging the digital divide and educating users about health tech solutions is crucial for wider adoption. Integration with Existing Infrastructure: Integrating digital solutions with existing healthcare systems requires seamless interoperability. 

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Future Outlook: A Healthier Future Built on Technology & Collaboration 

The Saudi health tech market is poised for continued growth, driven by several exciting factors: 

Focus on Artificial Intelligence: Adoption of AI in diagnostics, drug discovery, and personalized medicine will revolutionize healthcare delivery. Blockchain for Secure Data Management: Blockchain technology can enhance data security and transparency in healthcare transactions. Internet of Medical Things (IoT): Integration of IoT devices and sensors will provide real-time health data and improve remote patient monitoring. Public-Private Partnerships: Collaboration between government, healthcare providers, and tech companies will foster innovation and address industry challenges. 

Key Takeaways for Stakeholders: 

This report offers valuable insights for various stakeholders in the Saudi health tech market, including: 

Health tech companies: Identifying high-growth segments, partnering with established players, and prioritizing data security and user-friendly solutions. Investors: Understanding market trends, assessing investment opportunities in promising segments like AI and wearables, and supporting innovative startups. Policymakers: Formulating policies that facilitate innovation, address regulatory hurdles, and promote digital literacy and data privacy. Healthcare providers: Integrating health tech solutions seamlessly into existing systems, training staff on their use, and ensuring equitable access for all patients. Patients: Embracing health tech solutions responsibly, understanding data privacy concerns, and actively participating in their own healthcare journey. 

Conclusion: Building a Resilient and Inclusive Health Tech Ecosystem 

Saudi Arabia’s health tech market stands poised for a remarkable journey, fueled by ambitious government initiatives, a tech-savvy population, and an increasing demand for accessible and efficient healthcare solutions. By overcoming challenges like regulatory hurdles and the digital literacy gap, the sector can unlock its full potential and contribute to a healthier, more empowered population. This will require not only innovation and collaboration between established players and agile startups, but also the active participation of healthcare providers, policymakers, and, most importantly, patients themselves. Ultimately, navigating these opportunities and challenges will determine whether Saudi Arabia’s health tech market can truly revolutionize healthcare delivery, ensuring equitable access, personalized care, and a brighter, healthier future for all.

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Taxonomy

KSA Health Tech Market

KSA Health Tech Market Segmentation

By Product Segment

Healthcare IT Systems

Online Pharmacy

Online Consultation

KSA Online Pharmacy Market Segmentation

By Order Split

Prescribed Drugs

OTC Drugs

Non-Pharmaceutical Products and Medical Devices

By Order Platform

Web Browser

Mobile Application

By Cities

Mecca

Jeddah

Riyadh

Others

KSA Online Health Consultancy Market Segmentation

By Mode of Consultation

Audio Consultation

Video Consultation

Chat Consultation

By Type of Doctor

Specialized Doctor

General Practitioner

By Cities

Mecca

Jeddah

Riyadh

Others

By Specialties

Psychiatry & Psychology

Family Medicine

Others

KSA Healthcare IT Systems Market Segmentation

By Type of Product

Clinical Management System

Pharmacy Management System

Hospital Management System

Laboratory Management System

By Payment Type

Subscription Based

Annual License

By Cities

Mecca

Jeddah

Riyadh

Others

For More Insights On Market Intelligence, Refer To The Link Below: –

KSA Health Tech Market

Related Reports by Ken Research: –

UAE Health Tech Market Outlook to 2026 Driven by Increasing demand for Faster Delivery & Convenience and Shifting Customer behavior

The demand for the UAE Health Tech Market is expected to expand with at a double digit CAGR on the basis of GTV between 2022 and 2026. Emergence of the teleconsultation platform ecosystem enabled by mobile medical units and intermediaries, VR technology, AI & Blockchain are some of the technologies to revolutionize the world.

Global Stem Cell Banking Market Outlook to 2028 Driven by Increasing R&D for Therapeutic Purposes and Rising Investment in Stem Cell Therapy and Banking

According to Ken Research estimates, the Market Size of Global Stem Cell Banking has shown increasing trend from 2017 to 2022. However, due to COVID-19 restrictions and national & international guidelines, additional measures were taken to ensure secure stem cells collection from patients as well as donors, which resulted in decline in the overall stem cell banking market.

Germany Fitness Services Market Outlook to 2027 Driven by the Growing Health Consciousness, Digital Innovations, and Changing Lifestyles

The market will grow at a CAGR of 5.72% during 2022-2027 due to increasing recognition of the benefits of employee wellness which has led to the implementation of corporate wellness programs, contributing to the growth of the fitness market. Potential government initiatives or policies such as fitness campaign (BEACTIVE DAY) promoting physical activity and wellness may further stimulate growth in the fitness market.

Vietnam Health Tech Market Outlook to 2026 Driven by Increase in Internet Penetration and Mobile Applications along with Technology Advancement in the country

The Health IT Solutions in Vietnam has grown with CAGR 4.5% from 2018 to 2021 due to integration of digital health systems in hospitals for easy administration the competition in Health IT Solutions was identified to be moderately concentrated with three major dominating players in the market, namely: FPT, VNPT and Viettel Solutions. Key competitive parameters include price, type of product, customization, after sale service, ease of expansion, technology advancement, service offerings, etc.

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Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249

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Baseus Announces New Line of iPhone and Tech Accessories – Including Wireless Chargers, Security Cameras, Power Banks, and More

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As a company that designs products to be practical, reliable, and based on users, the new releases are curated to make everyday life easier and more efficient.

NEW YORK, Sept. 20, 2024 /PRNewswire/ — Baseus, a global leader in consumer electronics and mobile accessories, hosted an exclusive launch event in New York, introducing its latest innovations: the PicoGo series, Nomos series, and Security Camera series. These new offerings, including wireless chargers, headphones, and home security systems, are designed to meet the needs of the everyday consumer. Baseus CEO Shiyou He emphasized the company’s commitment to delivering practical, user-friendly tech solutions.

At the event, COO Jacky Fang outlined Baseus’s core values of “Practical, Reliable, Based on User,” He attributed the brand’s rapid growth to its strong product portfolio and brand recognition, highlighting significant progress in North America, including new partnerships and retail expansions. Vadim from Max Tech YouTube Channel shared how Baseus’s user-driven philosophy guided the development of several new products in the second half of the year. These launches further solidify Baseus’s mission to enhance users’ digital lives through innovative, practical solutions.

New Product Highlights Include:

Baseus PicoGo Series: Pocket Power, On the Go

Baseus PicoGo Fast Charger 45W – $29.99

The Baseus PicoGo 45W Fast Charger supports full-speed PD 3.0 charging for the iPhone 16, improving efficiency. It is 54.2% smaller, uses TÜV Rheinland-certified graphene technology for safer, cooler performance, and features a USB-C port for wide compatibility, ideal for travel.

Baseus PicoGo Power Bank 10000mAh 45W – $39.99

The Baseus PicoGo 45W Power Bank delivers 10,000mAh capacity and 45W fast charging, perfect for the latest iPhones. Its ultra-thin, 2-in-1 design supports wired and wireless charging, offering universal compatibility and a smart digital display for efficient power on the go.

Baseus PicoGo Magnetic Power Bank with Rotatable Stand 5000mAh 20W – $39.99

Get the best of both worlds with a Magnetic Power Bank that has both wireless and wired charging capabilities. This device boasts an impressive 5000mAh capacity and is Qi2-certified to provide ultra-fast 20W charging power.

Baseus Nomos Series: Power Combined, Simplicity Redefined

Nomos Qi2 5-in-1 140W Desktop Charger – $129.99

A 5-in-1 design featuring a smart digital display and intelligent power allocation. It’s the first desktop charger with Qi2 wireless charging and a retractable 100W USB-C cable, letting you charge up to 5 devices simultaneously while keeping your space clutter-free.

Baseus Nomos Qi2 8-in-1 Charging Station – $89.99

The Baseus Nomos Qi2 8-in-1 Slim Charging Station 67W (US) is the world’s thinnest at just 0.67 inches. It supports 67W fast wired and 15W Qi2 wireless charging for up to 8 devices, perfect for multi-device workspaces, travel, and saving space.

Baseus Nomos Qi2 3-in-1 Magnetic Power Bank – $69.99

The Baseus Nomos Qi2 3-in-1 Power Bank offers wired and wireless charging for up to three devices at once. With 10,000mAh capacity, it supports 45W fast wired and 15W Qi2 wireless charging. Compact and slim with a digital display, it’s perfect for travel and daily use.

Baseus Security Camera Series: This state-of-the-art solar-powered outdoor camera features sun-powered tracking and top-of-the-line alerts, dual camera modes, color night vision, and more.

Baseus Security S1 Pro Outdoor Dual Camera 3K 2-Cam Kit$449.99

The S1 Pro, winner of the Technology Innovation Awards 2024 by Future Publishing, keeps your camera charged for uninterrupted home surveillance, even without sunlight. Its 13,500mAh battery powers up to 270 days of use. The camera rotates up to 80°, harnessing solar energy for near-continuous power.

For security, the system features AES+RSA encryption (TÜV Rheinland Certified).

The Baseus H1 HomeStation includes 16GB of eMMC storage for up to three months of footage, with optional 16TB expansion via an external hard drive (sold separately).

These products are available for purchase in the US on Amazon, at Baseus.com, and at Target (select products). For more information and to review all the latest Baseus products, please visit: www.baseus.com

About Baseus

Founded in 2011, Baseus was born out of utmost care for users. The company embodies its slogan: Practical. Reliable. Based on User. With 300 million users and over 6 billion services, Baseus delivers 100 million products annually, combining quality and innovation to enhance user satisfaction.

Media Contact:

Baseus PR Team
Phone: +1 (213) 512-7063
Email: pr@baseus.com

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Creative by Nature: HUAWEI Launches GoPaint Worldwide Creating Activity 2024

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BARCELONA, Spain, Sept. 20, 2024 /PRNewswire/ — On September 19, HUAWEI officially launched the GoPaint Worldwide Creating Activity 2024 themed “Creative by Nature”. From the kickoff day to December 31, 2024, painting enthusiasts around the world can share their unique digital art works on HUAWEI Community platform.

With their HUAWEI MatePad tablets, designed to spark creativity, global consumers can bring the “Creation of Beauty” concept to life. The HUAWEI GoPaint Worldwide Creating Activity invites aspiring artists to unleash their inner creativity and continue to be inspired.

The new HUAWEI MatePad Pro 12.2-inch and HUAWEI MatePad 12 X come with powerful hardware and enhanced writing & painting experience when working with the most updated GoPaint App. The app’s professional brush engine, diverse canvas options, and FangTian Painting Engine 2.0 provide a seamless, authentic, and user-friendly creative experience.

The Activity is divided into five groups, with themes of Sci-Fi Art, Design & Fashion, Narrative Art, Cutting-edge Painting, and Digital Watercolor & Ink. Find out more in the the Official Website and get ready to paint on your HUAWEI MatePad[1]!

In the HUAWEI GoPaint Worldwide Creating Activity, you could win the chance to showcase your artwork worldwide and in app placements. You’ll also have the opportunity to share your creative journey in video interviews. For more details, please visit the official website: 
https://consumer.huawei.com/en/campaign/gopaint/

[1] MatePad tablets that support the GoPaint App are required, such as HUAWEI MatePad Pro 13.2, HUAWEI MatePad 11.5S, HUAWEI MatePad Pro 12.2, and HUAWEI MatePad 12 X.

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Info-Tech LIVE 2024 Day 3 Highlights: Key Insights on IT Leadership, Ethical AI, and the Future of IT

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Day 3 of Info-Tech LIVE 2024 delivered actionable insights on IT leadership, AI, and future IT trends, featuring thought leaders and experts from across the technology landscape.

TORONTO, Sept. 20, 2024 /PRNewswire/ – The third and final day of Info-Tech LIVE 2024 concluded with impactful sessions designed to equip IT leaders with strategies to navigate the exponentially changing technology landscape. Day 3 delivered valuable insights on critical topics such as ethical AI, leadership, and the evolving role of the CIO.

Key Highlights From Day 3 Featured Keynotes:

1. Adaptive IT Leadership: Leading at the Pace of Exponential Change
Speaker: Carlene McCubbin, AVP of Research Development at Info-Tech Research Group

Carlene McCubbin explored the critical importance of building strong IT leadership teams capable of navigating the rapidly evolving technology landscape. She emphasized the shift from a purely technical focus to a more balanced approach that includes people leadership and business acumen. McCubbin highlighted the findings from the 2024 Info-Tech and McLean & Company surveys, which revealed a growing gap in leadership skills within IT and underscored the urgent need for leadership development and prioritization.

Key Takeaways:

There is a significant disconnect between CxO expectations and IT department capabilities. While 50% of CxOs view IT as a driver of transformation, only 5% of IT departments are currently meeting this expectation.The top challenges for IT leaders include staffing shortages, skills gaps, and difficulties in meeting business demands, which can hinder IT’s ability to deliver value and adapt to changing business needs.Despite advancements in technology, 35% of IT employees’ time is still spent on administrative tasks, a figure that has remained unchanged over the past five years. The finding indicates a persistent inefficiency that could be addressed through better use of AI and automation.Many IT employees believe that efficiency can be improved, with 37% identifying opportunities to eliminate low-value activities and 47% seeing potential for greater operational efficiency through innovative approaches.

2. AI Hype vs. Reality
Speaker: Dr. Timnit Gebru, Founder and Executive Director at the Distributed AI Research Institute

Dr. Timnit Gebru’s keynote dissected the current AI landscape and how to navigate the fine line between hype and the tangible benefits of AI technologies. She explained how AI can be misused, highlighting issues such as unauthorized data usage, copyright infringement, and machine bias. Dr. Gebru emphasized the need for critical thinking and skepticism when evaluating AI systems and stressed the importance of establishing ethical guidelines and accountability to ensure responsible AI development and deployment.

Key Takeaways:

There is a significant disconnect between the hype surrounding AI and its real-world applications, with many organizations overestimating the capabilities of current AI technologies.A critical, evidence-based approach is essential for evaluating the true capabilities and risks of AI systems, particularly in avoiding the misuse of data and ensuring compliance with copyright and ethical standards.AI systems must be developed and integrated with strict ethical guidelines and accountability frameworks to prevent biases, protect user data, and ensure responsible AI usage.

3. The New CIO: Leading IT Into the Future
Speaker: Heather Leier-Murray, Research Director at Info-Tech Research Group

Heather Leier-Murray discussed the evolving role of the CIO and the skills necessary to lead IT into the future. The session focused on the strategic shift required for CIOs to move from traditional IT management to becoming key business partners. Leier-Murray emphasized the need for modern CIOs to balance technological innovation with leadership and influence, positioning IT as a central driver of organizational success in an increasingly technology-driven world.

Key Takeaways:

The role of the CIO has transformed significantly over the past 40 years, evolving from optimizing back-office operations to becoming a leader in driving organizational value through advanced technologies. Despite these shifts, 81% of respondents to Info-Tech’s CxO-CIO Alignment Diagnostic feel their IT maturity level is only at a supporting or struggling stage, indicating a need for further evolution.While 35% of CxOs believe their IT department must achieve the highest level of maturity to transform the organization, only 2% feel confident that their IT department is capable of driving this transformation.Over 50% of a CIO’s weekly time is consumed by day-to-day management and operational tasks, leaving less than 20% for strategic initiatives and technology advancements. This misalignment must be addressed so that IT leaders can effectively guide organizations through rapid technological changes.

Looking Beyond Info-Tech LIVE 2024

Over the three days of Info-Tech LIVE 2024, attendees explored the critical intersections of technology, leadership, and innovation, gaining insights into how to navigate the future of IT. From the transformative discussions on Exponential IT and AI to in-depth sessions on modernizing IT frameworks and developing effective leadership strategies, the conference provided a comprehensive roadmap for IT leaders aiming to drive their organizations forward in an era of exponential change.

Info-Tech Research Group looks forward to announcing details for the next LIVE event, including plans to expand the conference to Australia in March 2025.

For media inquiries, including requests for interviews with featured speakers and experts from LIVE 2024, or for access to session recordings and additional content, please contact pr@infotech.com. For conference-related press releases and images, please visit the online Info-Tech LIVE 2024 Media Kit.

About Info-Tech Research Group

Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software-buying insights. 

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

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SOURCE Info-Tech Research Group

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