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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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PDRL Secures Order for 500 AeroGCS Software Licenses from AVPL International, Signalling Major Growth in India’s Drone Ecosystem

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NASHIK, India, Nov. 13, 2024 /PRNewswire/ — PDRL, an innovative drone technology leader based in Nashik, Maharashtra, is thrilled to announce a landmark order of 500 AeroGCS software licenses from AVPL International (AITMC Ventures Ltd.). AVPL International, a key player in Aerial Innovative Technology for Mapping and Conservation (AITMC), has partnered with PDRL in a move that underscores both organizations’ commitment to advancing India’s drone industry and its application in agriculture and mapping.

Empowering the Indian Drone and Agriculture Sectors

AVPL International’s operations extend across 12 states and encompass an extensive network of 50 Global Incubation and Skill hubs (GISH), with an additional 20 World Incubation and Skill Hubs (WISH) focused on the drone and agriculture sectors. These hubs play a critical role in fostering technological innovation, building workforce skills, and creating opportunities in India’s expanding drone landscape. The substantial order of drone software licenses from PDRL will empower AVPL International’s mission to integrate cutting-edge drone technology into precision agriculture, environmental conservation, and resource mapping.

AeroGCS GREEN: The Backbone of Indian Agriculture Drone Operations

AeroGCS GREEN, a software developed by PDRL, has quickly gained recognition as India’s premier, made-in-India Ground Control Station (GCS) software suite tailored specifically for agriculture drone operations. From precision flying to agriculture spraying and comprehensive drone analytics, AeroGCS offers a robust solution for every aspect of drone usage in agriculture. This product has become indispensable in the Indian drone industry, driving efficiency and data-driven insights that are essential for sustainable farming practices.

Strategic Partnership for Technological Advancement and Rural Empowerment

This collaboration marks a significant milestone in AVPL International’s vision to transform agriculture and environmental conservation through drone technology. By deploying PDRL’s advanced technology, AVPL International aims to optimize resource use in agriculture, and support conservation projects across India.

PDRL and AVPL International have expressed excitement about the potential this collaboration holds for the future. “Partnering with AVPL International represents a significant milestone for PDRL, allowing us to contribute meaningfully to India’s agricultural and environmental sectors,” said Mr. Anil Chandaliya, CEO of PDRL. Further, Himanshu Sharma, CEO at AVPL International stated “We’re enthusiastic about a collaborative future that drives sustainable growth and technological advancement, fostering progress in precision agriculture and beyond.”

A Milestone for India’s Drone Ecosystem

The collaboration promises to catalyse transformative progress in drone technology and its applications in agriculture, positioning India as a global leader in drone innovation.

About PDRL:

Established in 2018, PDRL has swiftly risen as a dominant force in the Drone Technology, commanding a market share exceeding 50%. With three patents secured and three more in the pipeline, PDRL is committed to pioneering advancements that Create More Time to Live.

Central to PDRL’s mission is the development of cutting-edge drone technologies that streamline operations, boost efficiencies, and create more time to live.

At the heart of PDRL’s innovation is AeroMegh, a revolutionary drone SaaS solution integrating flight management, data capture, processing, and analytics. AeroMegh consists of: AeroGCS: Ensures seamless flight operations, AeroMegh GeoAI platform Delivers precise photogrammetry solutions and provides advanced GeoAI data analytics. Together, these products empower users with actionable insights, simplifying drone operations and enhancing overall efficiency.

PDRL remains steadfast in its commitment to sustainability and responsible innovation. By leveraging eco-friendly drone solutions, PDRL aims to mitigate carbon footprints and promote environmentally conscious practices across various sectors.

Through continuous research and development, strategic partnerships, and unwavering customer focus, PDRL envisions leadership in the market and also a future defined by efficiency, sustainability, and enduring societal impact.

Contact Details:
Marketing@pdrl.in, +91 7770013322

 

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AU10TIX Expands Global Presence in Bengaluru to Support India’s Digital Identity Transformation

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Dedicated Presence to Empower Local Businesses with AI-Driven Identity Verification Solutions, Enabling Seamless Global Expansion

BENGALURU, India and TEL AVIV, Israel, Nov. 12, 2024 /PRNewswire/ — AU10TIX, a global leader in identity verification and management, today announced a significant expansion of its operations in India with the establishment of a dedicated presence in Bengaluru. This strategic move makes AU10TIX’s advanced identity verification solutions even more accessible to the world’s largest democracy, enhancing the company’s ability to serve the nation’s 1.4 billion citizens and support its rapidly growing digital economy with cutting-edge AI-powered technology.

With security embedded in its DNA for over two decades since inception, AU10TIX’s advanced smart capture technology and sophisticated LLM-powered verification systems can process over 3,000 ID types across more than 150 countries. This uniquely positions AU10TIX to help Indian businesses scale globally with seamless cross-border operations.

The company’s India operations will be led by identity verification market veteran Bhushan Sawant, who previously held sales and partnership positions with IDfy, CARD91 and Experian. He will spearhead the integration of AU10TIX’s advanced technologies within India’s unique identity ecosystem, focusing on empowering startups and established businesses in their global growth ambitions, particularly in expanding to APAC and other international markets.

India’s digital transformation is occurring at an unprecedented scale,” said Bhushan Sawant, Regional Director, India, AU10TIX. “Our goal is to support this growth by providing identity verification solutions that are secure, scalable, and tailored to local needs, while also enabling Indian businesses to expand globally. Our deep expertise ensures the highest security standards while our smart technology delivers a smooth user experience.”

AU10TIX’s two-decade legacy in security-critical environments, combined with its advanced AI capabilities, makes it an ideal partner for India’s growing global business.

Dan Yerushalmi, CEO of AU10TIX, emphasized the company’s collaborative approach, saying, “We’re not here to compete with local solutions, but to complement them. We have the global expertise to help Indian businesses expand internationally, while we simultaneously learn from India’s impressive innovations in digital identity.”

About AU10TIX 
AU10TIX plays a pivotal role in establishing trust between individuals/companies and digital systems. Founded in 2002, it is the global leader in identity verification and management, protecting the world’s largest brands against advanced fraud. The company’s future-proof product portfolio helps businesses provide frictionless customer onboarding and verification in 4-8 seconds while staying ahead of emerging threats and evolving regulatory requirements. AU10TIX offers the world’s only 100% automated global identity management system, as well as the industry’s only solution that can detect organized mass attacks by analyzing traffic patterns and cross-checking data in a consortium of more than 60 major companies. With its deep roots in airport security, AU10TIX has authenticated billions of identities and prevented over $18 billion in identity fraud. AU10TIX is a subsidiary of ICTS International N.V. (OTCQB: ICTSF). Connect with AU10TIX on LinkedIn and on X at @AU10TIXLimited. For more information, visit AU10TIX.com

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COMPUTEX 2025: Seize Global Tech Opportunities – Registration Now Open!

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TAIPEI, Nov. 13, 2024 /PRNewswire/ — COMPUTEX 2024, organized by the Taiwan External Trade Development Council (TAITRA), attracted global attention with 1,500 exhibitors and over 80,000 attendees, including tech professionals, startups, buyers, and media worldwide. As a premier platform for AI innovation, it solidified COMPUTEX’s position in the global tech scene. The upcoming COMPUTEX 2025 will be held from May 20 to May 23 at Taipei Nangang Exhibition Centers, focusing on the theme “AI Next.” Interested exhibitors are encouraged to register and take advantage of this opportunity to connect with the global tech market.

2025 Main Themes: Embracing AI and Innovation

The theme for COMPUTEX 2025, “AI Next,” focuses on the latest trends in artificial intelligence and how AI will drive industrial transformation in areas like content creation, product design, and manufacturing. By 2025, over half of global data analytics tasks will be cloud-based, with AI-related investments projected to surpass USD 300 billion by 2026. COMPUTEX 2025 will spotlight three main themes: AI Robotics, Next-Gen Tech, and Future Mobility. This focus aims to provide a robust platform for tech companies to present pioneering AI solutions and showcase advancements in robotics, next-gen tech, and mobility.

InnoVEX Pavilion: A Hub for Innovation 

The InnoVEX pavilion, renowned for supporting startups, will continue to be a highlight at COMPUTEX 2025, offering emerging companies an avenue to connect with manufacturing partners and access global distribution networks. This area will host various startup-focused activities, including competitions and product showcases, to attract interest from international venture capitalists and foster collaboration.

Diverse Events and Industry Leader Participation COMPUTEX 2024 concluded with influential keynote speakers, including leaders from AMD, Qualcomm, Intel, MediaTek, Supermicro, NXP, and Delta Research Institute. These leaders provided insights into how cutting-edge technologies can drive the future of AI, making COMPUTEX a critical forum for industry discussion. For 2025, the event will feature similar high-level talks and forums, along with theme-based tours, startup showcases, and procurement matchmaking sessions to facilitate networking and foster partnerships across borders.

Registration for COMPUTEX 2025 Open – A Premier Global Platform 

With registration now open, COMPUTEX 2025 offers a valuable platform for tech companies to enter international markets and form strategic partnerships. The event will feature keynote speeches, themed tours, and business matchmaking sessions, providing both established industry leaders and startups with valuable opportunities for exposure and growth. Don’t miss this unique chance to be part of the global tech scene; register now and visit the official website for more details.

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