Saudi Arabia Telemedicine Market Size & Outlook, 2023-2030
Saudi Arabia telemedicine market, 2018-2030 (US$M)
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Saudi Arabia telemedicine market highlights
- The Saudi Arabia telemedicine market generated a revenue of USD 667.7 million in 2023 and is expected to reach USD 2,318.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 19.5% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Telemedicine market data book summary
| Market revenue in 2023 | USD 667.7 million |
| Market revenue in 2030 | USD 2,318.8 million |
| Growth rate | 19.5% (CAGR from 2023 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Product, Services |
| Key market players worldwide | Twilio Inc Class A, Teladoc Health Inc, Zoom Video Communications Inc |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.6% of the global telemedicine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa telemedicine market is projected to lead the regional market in terms of revenue in 2030.
- Israel is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,545.4 million by 2030.
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Telemedicine Market Scope
Telemedicine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia telemedicine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to telemedicine market will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 51.92% in 2023. Horizon Databook has segmented the Saudi Arabia telemedicine market based on product, services covering the revenue growth of each sub-segment from 2018 to 2030.
Earlier, it was a followed practice before a licensing regime was announced in December 2018 and Telemedicine Regulations were established in June 2019. As per the regulations, telemedicine is available for consultation, screening, triage, obtaining a medical judgement from a healthcare practitioner, diagnostics, monitoring of a medical condition, and treatment support.
Moreover, healthcare was one of the growth areas recognized in Vision 2030. Saudi Arabia revealed Vision 2030 in April 2016. Vision 2030 is a plan of action to alter its economy through the expansion and formation of alternative sources of income for the country.
Several private healthcare centers now deliver telemedicine services with their physical healthcare services in the country. Thus, these factors contribute to the market growth.
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Target buyers of Saudi Arabia telemedicine market databook
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Our clientele includes a mix of telemedicine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia telemedicine market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia telemedicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia telemedicine market size, by component, 2018-2030 (US$M)
Saudi Arabia Telemedicine Market Outlook Share, 2023 & 2030 (US$M)
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