The Middle East and Africa IoT healthcare Market is foreseen to progress at a compound annual growth rate of 16% over the outlook period of 2023 to 2028.
The increasing concerns related to healthy living and a surge in funding in the healthcare industry has been a crucial aspect that contributed to the expansion of the IoT Healthcare market in the Middle East and African region. The outbreak of the coronavirus pandemic has resulted in an increased need for PPE kits and masks worldwide. This has promoted the regional market to grow at a substantial rate. Also, IoT Healthcare is being implemented at a rapid pace in local hospitals and medical centers. The government policies that focus on personal protection are crucial factors that have supported business growth in this area. Manufacturers are directing most of their IoT spending towards a solution supporting operations and production asset management. The local government of the Middle East countries is also spending huge money in the IoT healthcare market. This extravagant spending is likely to boost the industry and will trigger high demand. Increased demand for wearable devices is also a driving factor for the industry.
Infrastructural issues in the traditional healthcare industry is a major challenge to the developments in the MEA market. To improve the problems related to infrastructure, huge investments are necessary, which is highly expensive costly, and time-consuming, limiting the growth of the MEA IoT healthcare market.
This research report on the MEA IoT Healthcare market has been segmented into the following categories:
By Component:
By Application:
In terms of application, the telemedicine segment is estimated to develop with a notable CAGR in the future regional market. This method has been proven to be extremely useful for monitoring the patient's psychological functioning from remote locations.
By End-User:
Due to the global pandemic, the hospital end-user segment has become the largest contributor to the MEA IoT Healthcare industry. Personal fitness is also becoming a segment trend in this area. More people are using wearable devices to track their health conditions. This demonstrates a rapid rise in demand for health-enhancing wearable IoT-enabled devices.
By Country:
The United Arab Emirates (UAE) is currently positioning Dubai as a major hub for healthcare activities. Being a tourism destination, the local authority is trying to further expand this market by providing end-to-end healthcare services. The Dubai Healthcare Authority (DHA) has turned the Dubai Health Experience (DXH) into a prestigious brand to promote digitally, aiming to develop Dubai as a leading medical tourism destination in the world.
Kingdom of Saudi Arabia (KSA) is also implanting its vision 2030 plan and making healthcare as its center. By the end of 2020, this region's healthcare market is expected to be valued at 27 billion USD, offering huge growth potential for IoT healthcare business in this locale.
Some of the most prominent companies dominating the MEA IoT Healthcare market analyzed in this report are 3M, Cardinal Health, Medline Industries, Ansell ltd., AMD Medicom, Alpha Pro Tech, and Medisca Inc.
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