#KSA Telehealth market emerging players

[medi-techinsights]

GCC Countries Digital Health Market is anticipated to witness a significant growth by 2027 : Increasing Investment Opportunities in KSA & UAE

Digital health refers to the application of digital tools and technologies to monitor and manage illnesses, diseases and health risks and to advertise and promote wellness. The global scope of digital health includes many segments such as Telehealth, mHealth Apps, Connected Medical Devices & Services, Electronic Health Records (EHRs), Electronic Medical Records (EMRs), Healthcare Analytics, Digital Therapeutics, etc.

Rapid Growth in the GCC Countries Digital Health Market Post Covid-19 Pandemic

Due to strict government norms on social distancing during COVID-19 pandemic, GCC countries had seen a fast surge in the application of virtual care solutions, such as online consultations, online prescriptions, online pharmacies, RPM solutions, etc. which is poised to be the upcoming trend in the GCC regions. COVID-19 pandemic has created a fertile environment for all digital health startups. The GCC region had also seen the growth of many health tech startups post Covid-19 pandemic.

“Post Covid-19 Pandemic, to improve patient experience and enhance the quality of care, adoption of digital health has increased in leading GCC markets such as Saudi Arabia and UAE. An increasing number of Saudi-based companies such as Nala Health (Acquired by Integrative Health) and Cura Healthcare which provides instant consultations to tailored digital care programs are the major examples. Also, to reduce the need for physical hospital visits, Saudi Arabia’s Ministry of Health (MoH) has launched many mobile apps such as Mawid, Tabaud, and Seha, which provide virtual consultations.”-Partner, UAE-based Venture Capital Firm

Positive Funding Environment Triggers the Growth of the GCC Countries Digital Health Market

In recent years, the GCC countries has seen a rapid surge in the fundings and investments for digital health startups which is set to boost the growth of the GCC Countries Digital Health Market.

For instance,

In June 2022, WEMA Health, a digital health startup, launched its own services in UAE after raising $3.50 million in a seed funding round led by Dawn Health, Europe’s leading digital health company. The company offers a virtual obesity programme to help its members lose up to 20% of their body weight.

Competitive Landscape Analysis: GCC Countries Digital Health Market

Some of the top and emerging players operating in the GCC Countries digital health market are as follows: -

3M Health Information Systems

GE Healthcare

Philips Healthcare

InterSystems

Cerner Corporation

Epic Systems

Altibbi

Cura Healthcare

Integrative Health (Acquired Nala Health)

Ynmodata

Labayh

AlemHealth

Okadoc

Vezeeta

GluCare.Health

The major factors driving the growth of the GCC Countries digital health market are an increasing funding for healthcare IT and digital transformation in Saudi Arabia and United Arab Emirates, growing awareness of digital-health solutions, adoption of artificial intelligence, IoT and 5G in the healthcare-IT segment, growing healthcare service spending towards non-hospital care. However, potential cybersecurity threats and insufficient legal and regulatory frameworks to counter issues such as data protection, data privacy, and intellectual property rights are set to impact the market’s growth.

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