Market Trends of Middle East & Africa Remote Patient Monitoring Industry
Heart Monitors are Expected to Witness a Rapid Growth During the Forecasted Period
A heart monitor is a device that helps the patient record the heart's electrical activity (ECG). This device is about the size of a pager. It records the heart rate and rhythm. The increased death rate due to cardiovascular diseases across developed countries, coupled with the increased geriatric population and developing countries, have raised awareness among the patient population to opt for early and easy-to-monitor devices, which is expected to drive the segmental growth. For instance, according to Saudi Health Ministry statistics, in 2021, 15% of the Saudi population suffered from hypertension, a risk factor contributing significantly to cardiovascular diseases. With the increasing cases of cardiovascular diseases, the pressure on the government increases to take initiatives to treat these diseases, boosting the market growth in the country. Moreover, according to the World Heart Federation Updates from July 2021, Africa is home to more than 1 billion people and is a major contributor to the global burden of cardiovascular disease. Further, the increasing burden of cardiovascular diseases in the region is expected to increase the burden of cardiovascular diseases in the country, which will further boost the growth of the segment.
Also, according to Stats South Africa's latest Financial statistics of the consolidated general government report published in August 2021, the total South African government spending bill was R2 trillion in the 2019/20 financial year. This translates to 12.1% of total general government spending, making it the fourth biggest expenditure item after general public services, education, and social protection. Similarly, most health services in South Africa (about 86%) are provided through the public sector, yet only about 50% of health expenditure comes from the government. Thus, the increasing healthcare expenditure is expected to uplift the market in the coming years.
Thus, the above-mentioned factors are expected to contribute to segmental growth over the forecast period.
Gulf Cooperation Council (GCC) is is Expected to show a Significant Share of the Market Over the Forecast Period
The Gulf Cooperation Council (GCC) includes countries such as Riyadh and Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE. Some factors, such as the increasing geriatric population and rising prevalence of chronic disorders, coupled with technological advancements, are propelling the market growth in this region. According to a new study commissioned by Cleveland Clinic Abu Dhabi in September 2021, an integral part of Mubadala Health, to mark World Heart Day, more than a thousand UAE residents revealed that 55% of respondents had been directly affected by heart disease, either through being diagnosed themselves (12%), having a close friend or family member diagnosed with heart disease (53%), or both. Cardiovascular disease is the leading cause of death in the UAE, with symptoms in patients often occurring a decade earlier than their counterparts in other developed nations. Thus, the increasing cases of cardiovascular diseases in the region are expected to increase the demand for remote patient monitoring systems over the forecast period.
Moreover, in March 2022, BioIntelliSense and Mubadala Health established a strategic collaboration to enable a continuous care model for medical-grade remote monitoring and management. Similarly, in January 2022, Ortus iHealth launched a pioneering new remote monitoring platform at Arab Health 2022. Such collaboration and product launches are expected to further boost the growth of the market in the region over the forecast period.
Thus, all aforementioned factors are expected to boost the market in the region over the forecast period.
