Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) — The “Saudi Arabia Wearable Medical Devices Market Size, Share & Trends Analysis Report by Product (Diagnostic, Therapeutic), Site, Application, Grade Type, Distribution Channel, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Saudi Arabia wearable medical devices market size is anticipated to reach USD 956.43 million by 2030, growing at a CAGR of 20.6% from 2024 to 2030
The anticipated growth in industries such as remote health monitoring and home healthcare is expected to impact the market. The utilization of telemedicine during the COVID-19 pandemic was identified to be satisfactory for safe communication between healthcare providers and patients in the country.
The increased focus on healthy lifestyle and fitness contributes to the increased demand for fitness trackers. Technological advancements, increase in clinical trials, and awareness of personal health monitoring and round-the-clock monitoring are expected to further drive the market.
Increasing lifestyle-associated diseases constitute a significant threat to Saudi Arabia’s population health. An increase in obesity is the primary cause of non-communicable diseases like hypertension, type 2 diabetes, and dyslipidemia, which can lead to cardiovascular disorders (CVDs). Ischaemic heart disease is one of the major reasons for deaths in Saudi Arabia.
In 2020 and 2021, obesity prevalence in Saudi Arabia was the highest across the globe, with an average of 35%. This factor further anticipates the need for early diagnosis of CVDs, including coronary heart disease, rheumatic heart disease, cerebrovascular disease, and other conditions necessitating continuous monitoring of physiological parameters.
Currently, the Saudi government spends over 60% of the country’s total healthcare expenditure. It launched the Vision 2030 project to improve research and development in healthcare infrastructure such as telemedicine and remote patient monitoring.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $255.34 Million |
| Forecasted Market Value (USD) by 2030 | $956.43 Million |
| Compound Annual Growth Rate | 20.6% |
| Regions Covered | Saudi Arabia |
Saudi Arabia Wearable Medical Devices Market Report Highlights
- Based on product, the diagnostics device segment dominated the market with the largest share of 60.92% in 2023, owing to the need of continuous monitoring of physiological parameters
- The respiratory devices product segment is expected to grow at the fastest CAGR of 21.6% over the forecast period
- Based on application, the home healthcare segment held the largest revenue share in 2023. The remote patient monitoring segment is expected to grow at the fastest CAGR over the forecast period.
- Factors such as sedentary lifestyle and lack of exercise are contributing to the growing prevalence of cardiovascular diseases.
- In August 2023, FluidAI Medical rolled out a postsurgical monitor, Stream Platform, powered by the use of artificial intelligence facilitating the diagnosis of postoperative leaks and severe complications of digestive tract surgeries.
Companies Featured
- Koninklijke Philips N.V.
- Garmin
- Covidien (Medtronic)
- Omron Healthcare Co., Ltd.
- Polar electro
- Sotera Wireless
- Huawei Device Co., Ltd.
- Apple Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rzhror
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- Saudi Arabian Wearable Medical Devices Market
