Digital health refers to the utilization of advanced digital technologies to manage various health diseases, health disorders and health risks and to advertise wellness. The wide scope of digital health includes many categories such as Telehealth, mHealth Apps, Connected Medical Devices, Electronic Health Records (EHRs), Electronic Medical Records (EMRs), Healthcare Analytics, Digital Therapeutics, etc.
Rapid Growth in the GCC Digital Health Market Post Covid-19 Pandemic
Due to strict government norms and regulations on social distancing during the COVID-19 pandemic, GCC countries had witnessed a rapid growth in the utilization of virtual care solutions, such as online consultations, online doctor appointments, e-prescriptions, online pharmacies, remote patient monitoring (RPM), etc which is anticipated to be the new trend in the GCC countries. COVID-19 pandemic had also created a productive environment for all digital health startups and companies. The GCC regions had witnessed the upcoming of many digital health startups post Covid-19 pandemic.
Favourable Funding Environment Triggers the Growth of the GCC Digital Health Market
In recent years, the GCC regions has witnessed a significant surge in the fundings for digital health startups which is projected to improve the growth of the GCC Digital Health Market.
In June 2022, WEMA Health, a digital health startup, launched its services in UAE after raising $3.50 million in a seed funding round led by Dawn Health, Europeâ€™s top digital health company. The company offers a virtual obesity programme to help its patients lose up to 20% of their body weight by recruiting in-house experts.
â€œPost Covid-19 Pandemic in order to improve the patient experience and enhance the quality of patient care, the adoption of digital health increased in top GCC markets such as KSA and UAE. An increasing number of Saudi-based companies such as Nala Health and Cura Healthcare which provides instant and immediate consultations to tailored digital care programs are the leading examples. Also, to decrease the requirement for physical visits, Saudi Arabiaâ€™s Ministry of Health (MoH) has launched mobile applications like Mawid, Tabaud, and Seha, which provides virtual doctor consultations.â€-Partner, UAE-based Venture Capital Firm
Competitive Landscape Analysis: GCC Countries Digital Health Market
Some of the top and promising players operating in the GCC digital health market are listed as follows: –
â€¢ 3M Health Information Systems
â€¢ GE Healthcare
â€¢ Philips Healthcare
â€¢ Cerner Corporation
â€¢ Epic Systems
â€¢ Cura Healthcare
â€¢ Integrative Health
Aggressive Growth Strategies Followed by Leading Market Players to Establish Their Strong Foothold in the GCC Digital Health Market
All main players operating in the GCC digital health market are adopting both organic and inorganic growth strategies such as launching new products and services, advancements, acquisitions and entering into collaborations with other top stakeholders to gain a larger market share in the GCC market.
In March 2023, King Faisal Specialist Hospital and Research Centre (KFSH&RC) inked a non-binding Memorandum of Understanding (MoU) with Oracle to increase the application of electronic medical records and enhance digital transformation in the KSA healthcare segment.
The GCC Digital Health Market is projected to gain a consistent momentum in the coming years with an emerging digitalized healthcare environment, growing demand for telehealth, virtual visits, mHealth and remote patient monitoring, online pharmacies, online fitness classes & diet-management apps, mental well-being apps, application of wearable medical devices, growing investments in the healthcare-IT field, growing product development by leading market players, and organic and inorganic growth strategies adopted by the key market players.
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