Saudi Arabia Patient Monitoring Market Size
| Study Period | 2019-2027 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 210.45 Million |
| Market Size (2028) | USD 276.23 Million |
| CAGR (2023 - 2028) | 5.59 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Patient Monitoring Market Analysis
The Saudi Arabia Patient Monitoring Market size is expected to grow from USD 210.45 million in 2023 to USD 276.23 million by 2028, at a CAGR of 5.59% during the forecast period (2023-2028).
The outbreak of COVID-19 impacted the market, and increased the risk of many diseases such as respiratory diseases, cardiovascular diseases, and other chronic diseases owing to which the demand for patient monitoring devices significantly increased during the initial phases of the pandemic. For instance, according to the NCBI research study published in April 2021, patients infected with COVID-19 were highly prevalent to cardiovascular diseases. The major risk factor associated with these diseases in COVID-19 patients were pneumonia and increased length of stay in the hospital. This study suggested that COVID-19 patients were at higher risk of cardiovascular diseases which propelled the demand for patient monitoring devices. Remote patient monitoring using implantable cardiac devices is a safe alternative to in-person-only visits which led to enhanced patient satisfaction and improved clinical outcomes. Therefore, the demand and use of patient monitoring devices increased drastically during the initial phase of the pandemic. Although, with the declining cases of COVID-19 the demand slightly decreased in the later times of the pandemic. The positive developments and increasing cases of chronic diseases are anticipated to propel the market growth over the forecast period.
The rising incidences of chronic diseases, growth in the geriatric population, and growing preference for home and remote monitoring are the major factors driving the market growth. For instance, as per the research study published in August 2021, the prevalence of dementia in Saudi Arabia was estimated to be around 6.4%. Factors, such as age, low level of education, hypertension, and cardiovascular disease were risk factors for cognitive impairment. Since such disorders require constant monitoring, increasing cases of cognitive impairment and cardiovascular diseases may propel the demand for the product, thereby surging the market growth.
Similarly, according to the NIH research study published in November 2021 the prevalence of coronary artery disease (CAD) symptoms was 25.1%, and the complications associated with the diseases comprised 72.7%. In addition, the same source also reported that the prevalence of a family history of CAD was 9.3%, overweight/obesity was 58.6%, physical inactivity was 79.1%, and smoking was 24.1%. Due to the high prevalence of cardiovascular diseases and their risk factors in the general population, there is a growing need for their diagnosis and treatment, which is likely to fuel market expansion. Thus, owing to such factors significant market growth is anticipated over the forecast period.
However, the high cost of technology is expected to hinder market growth over the forecast period.
Saudi Arabia Patient Monitoring Market Trends
This section covers the major market trends shaping the Saudi Arabia Patient Monitoring Market according to our research experts:
Cardiology Segment is Expected to Witness Considerable Growth Over the Forecast Period
Market expansion is anticipated to be driven by factors such as the rising incidence of cardiovascular diseases, the growing number of obese people, the expanding ranks of the elderly, and the improving capabilities of telemedicine. Case in point: stroke occurs at a rate of 43.80 per 100,000 Saudis, as reported by a study published in August 2021. Most participants (81.7%), followed by those with a history of stroke (74.1%) and those with a history of dyslipidemia (57.2%), selected a personal history of hypertension as a risk factor, according to the same source. The study also indicates that there was a low level of awareness regarding cardiovascular diseases and their risk factors which leads to the high prevalence of the disease. Thus, conditions such as hypertension and obesity are the major factors triggering cardiovascular diseases and stroke, therefore, increasing cases of such conditions may propel cardiovascular diseases which in turn will surge the demand for patient monitoring devices in Saudi Arabia.
Furthermore, digital health innovation is a key part of the vision, with the Ministry of Health aiming for 70.0% of citizens to have unified digital records by 2022 and improvements in IT to significantly strengthen the quality of services offered by healthcare providers.
Thus, owing to the abovementioned factors, the cardiology segment is anticipated to witness significant growth over the forecast period.
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Home Healthcare Segment is Expected to Witness Significant Growth Over the Forecast Period
The major factors for the growth of the home healthcare market in Saudi Arabia are expected to be rising disposable income and the high incidence of surgical procedures. The high disposable income is expected to enable consumers to afford self-monitoring devices in Saudi Arabia, thereby ultimately contributing to the growth of the market. In a similar vein, the high volume of surgical procedures is anticipated to increase the demand for post-operative care and home-based patient monitoring devices, thereby contributing to the expansion of this market segment over the forecast period.
The rising disposable income in Saudia Arabia is one of the major factors propelling the segment's growth. For instance, as per the World population review article published in 2022 the disposable income of the population in Saudi Arabia in 2022 was USD 36,408,820. Similarly, the growing initiatives in the kingdom are expected to propel the segment growth. In May 2022, Tamer, the healthcare distribution company, signed a 5 year deal to launch Huma's market-leading technology platform 'hospitals at home' with remote patient monitoring to the 34 million people living in the Kingdom of Saudi Arabia.
Therefore, such high disposable income among the Saudi Arabia population is expected to enable the adaption of home healthcare-based patient monitoring devices, thereby boosting the growth of the segment over the forecast period.
Saudi Arabia Patient Monitoring Industry Overview
The Saudi Arabia patient monitoring market is moderately fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the major players in the market are Abbott Laboratories, Becton, Dickinson and Company, Drägerwerk AG, GE Healthcare, and Medtronic PLC among others.
Saudi Arabia Patient Monitoring Market Leaders
Abbott Laboratories
Becton, Dickinson and Company
Drägerwerk AG
GE Healthcare
Medtronic PLC
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Patient Monitoring Market News
- June 2022 : GE Healthcare launched a new wireless patient monitoring system called Portrait Mobile. The new device has been designed to help clinicians detect early patient deterioration and constantly monitor patients' health during their stay at the hospital.
- May 2022 : the 34.0 million residents of the Kingdom of Saudi Arabia will now have access to Huma's market-leading technology platform "hospitals at home", which is a remote patient monitoring platform due to a 5-year agreement between Tamer and the top healthcare distribution organization in the Middle East. The new health initiative will start by offering assistance to diabetic and heart disease patients.
Saudi Arabia Patient Monitoring Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Chronic Diseases
4.2.2 Growth in Geriatric Population
4.2.3 Growing Preference for Home and Remote Monitoring
4.3 Market Restraints
4.3.1 High Cost of Technology
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type of Device
5.1.1 Hemodynamic Monitoring Devices
5.1.2 Neuromonitoring Devices
5.1.3 Cardiac Monitoring Devices
5.1.4 Respiratory Monitoring Devices
5.1.5 Remote Monitoring Devices
5.1.6 Other Types of Devices
5.2 By Application
5.2.1 Cardiology
5.2.2 Neurology
5.2.3 Respiratory
5.2.4 Fetal and Neonatal
5.2.5 Weight Management and Fitness Monitoring
5.2.6 Other Applications
5.3 By End-users
5.3.1 Home Healthcare
5.3.2 Hospitals
5.3.3 Other End Users
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Baxter International Inc.
6.1.3 Becton, Dickinson and Company
6.1.4 Dragerwerk AG
6.1.5 GE Healthcare
6.1.6 Koninklijke Philips NV
6.1.7 Medtronic PLC
6.1.8 Siemens Healthcare
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Saudi Arabia Patient Monitoring Industry Segmentation
As per the scope of this report, patient monitoring devices are monitoring devices that continuously monitor the patient's vital parameters, like blood pressure and heart rate, by using a medical monitor and collecting medical (and other) data from individuals. The Saudi Arabia Patient Monitoring Market is Segmented by Type of Device (Hemodynamic Monitoring Devices, Neuromonitoring Devices, Cardiac Monitoring Devices, Respiratory Monitoring Devices, Remote Monitoring Devices, and Other Types of Devices), Application (Cardiology, Neurology, Respiratory, Fetal, and Neonatal, Weight Management and Fitness Monitoring, and Other Applications), and End Users (Home Healthcare, Hospitals, and Other End Users). The report offers the value (in USD million) for the above segments.
| By Type of Device | |
| Hemodynamic Monitoring Devices | |
| Neuromonitoring Devices | |
| Cardiac Monitoring Devices | |
| Respiratory Monitoring Devices | |
| Remote Monitoring Devices | |
| Other Types of Devices |
| By Application | |
| Cardiology | |
| Neurology | |
| Respiratory | |
| Fetal and Neonatal | |
| Weight Management and Fitness Monitoring | |
| Other Applications |
| By End-users | |
| Home Healthcare | |
| Hospitals | |
| Other End Users |
Saudi Arabia Patient Monitoring Market Research FAQs
How big is the Saudi Arabia Patient Monitoring Market?
The Saudi Arabia Patient Monitoring Market size is expected to reach USD 210.45 million in 2023 and grow at a CAGR of 5.59% to reach USD 276.23 million by 2028.
What is the current Saudi Arabia Patient Monitoring Market size?
In 2023, the Saudi Arabia Patient Monitoring Market size is expected to reach USD 210.45 million.
Who are the key players in Saudi Arabia Patient Monitoring Market?
Abbott Laboratories, Becton, Dickinson and Company, Drägerwerk AG, GE Healthcare and Medtronic PLC are the major companies operating in the Saudi Arabia Patient Monitoring Market.
Saudi Arabia Patient Monitoring Industry Report
Statistics for the 2023 Saudi Arabia Patient Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Patient Monitoring analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Saudi Arabia Patient Monitoring Report Snapshots
