Market Trends of Middle East & Africa Remote Patient Monitoring Industry
This section covers the major market trends shaping the MEA Remote Patient Monitoring System Market according to our research experts:
Heart Monitors are Expected to Witness a Rapid Growth During the Forecasted Period
Heart Monitors is a device that helps the patient to record the electrical activity of the heart (ECG). This device is about the size of a pager. It records the heart rate and rhythm. The increased death rate due to cardiovascular diseases across developed countries, and developing countries, has raised awareness among the patient population to opt for early and easy-to-monitor devices.
According to Saudi Health Ministry statistics, in 2021, 15% of the Saudi population suffer from hypertension, a risk factor that contributes significantly to cardiovascular diseases. With the increasing cases of cardiovascular diseases, the pressure on the government increases to take initiatives for the treatment of these diseases boosting the market growth in the country. Moreover, According to the World Heart Federation Updates from July 2021, Africa is home to more than 1 billion people and is a major contributor to the global burden of cardiovascular disease. Further, the increasing burden of cardiovascular diseases in the region is expected to increase the burden of cardiovascular diseases in the country which will further boost the growth of the segment.
According to Stats South Africa’s latest Financial statistics of consolidated general government report published in August 2021, total South African government spending bill was R2 trillion mark in the 2019/20 financial year. This translates to 12.1% of total general government spending, making it the fourth biggest expenditure item after general public services, education, and social protection. Similarly, most health services in South Africa (about 86%) are provided through the public sector, yet only about 50% of health expenditure comes from the government. Thus, the increasing healthcare expenditure is expected to uplift the market in the coming years.
Looking at the above-mentioned statistics, it is understood that there is a high burden of heart disease in the Middle East and Africa region which is the prime factor responsible for the rising demand for heart monitors in this region which is expected to fuel the growth of the market.
Gulf Cooperation Council (GCC) is is Expected to Dominate the Market
The Gulf Cooperation Council (GCC) includes countries, such as Riyadh, and Saudi Arabia among Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE. Some of the factors such as the increasing geriatric population, and rising prevalence of chronic disorders, coupled with technological advancements are propelling the market growth in this region.
According to a new study commissioned by Cleveland Clinic Abu Dhabi in September 2021, an integral part of Mubadala Health, to mark World Heart Day, more than a thousand UAE residents revealed that 55% of respondents had been directly affected by heart disease, either through being diagnosed themselves (12%), having a close friend or family member diagnosed with heart disease (53%), or both. Cardiovascular disease is the leading cause of death in the UAE, with symptoms in patients often occurring a decade earlier than their counterparts in other developed nations. Thus, the increasing cases of cardiovascular diseases in the region is expceted to increase the demand for remote pateint monitoring system over the forecast period.
Moreover, in March 2022, BioIntelliSense and Mubadala Health established a strategic collaboration to enable a continuous care model for medical-grade remote monitoring and management. Similarly, in January 2022, Ortus iHealth launched a pioneering new remote monitoring platform at Arab Health 2022. Such collaboration and product launches are expceted to further boost the growth of the market in the region over the forecast period.
Thus, all aforementioned factors are expected to boost the market in the region over the forecast period.
