The Saudi Arabian patient monitoring market will show rapid growth due to the rising incidences of chronic diseases, growth in the geriatric population, and growing preference for home and remote monitoring.
- There is an increasing prevalence of chronic diseases in Saudi Arabia and contributed to almost 60% of all premature deaths in 2016, which is estimated to rise to 73% by 2020. Of these, diabetes and hypertension are common, with prevalence rates of 23% and 26%, respectively. In the Jeddah region, at 30%, diabetes prevalence is the highest regionally in Saudi Arabia. Therefore, the increasing prevalence of chronic diseases is linked to an aging society and lifestyle choices, such as smoking, sexual behavior, diet, exercise, and genetic predisposition. Therefore, with the increase in chronic diseases, there are increasing patient monitoring devices that help to reduce readmissions and prevent avoidable hospitalizations.
- Moreover, these technologies decrease the number of unnecessary trips to the doctor’s office and reduce travel-related expenses. Hence all these factors are expected to increase the overall market growth.
Key Market Trends
Remote Monitoring Devices is Expected to Grow Fastest During the Forecast Period
- Remote patient monitoring (RPM) involves the monitoring of various parameters, such as vital signs, weight, blood pressure, blood sugar, blood oxygen levels, heart rate, and electrocardiograms. The monitoring helps in treating the diseases and aids in keeping people healthy, allow older and disabled individuals to live at home longer, and avoid having to move into skilled nursing facilities.
- In addition, the increasing prevalence of chronic diseases, which require continuous monitoring of COPD and cardiovascular abnormalities, demands remote monitoring devices. The rising increase in the aging population and the government's increased support to reduce hospitalization costs are propelling the growth of remote monitoring devices market.
The patient monitoring market consists of several major players. The companies implement certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships that help them in strengthening their market position. Prominent industry players adopt strategies, including acquisitions, mergers, distribution agreements, and innovative product launches to enhance product portfolio and garner higher market share.
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