Global Market Research Reports : Ken Research: UAE Dietary Supplements market

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Wednesday, August 17, 2022

Health Tech platforms have gained traction with the increasing prevalence of customers availing health services online due to the pandemic: Ken Research

Key Findings

· UAE Health Tech is being driven by rising prevalence of lifestyle diseases (for example, diabetes or obesity) and an increased awareness of preventive care along with Rise in demand for specialized care like that for oncological and cardiovascular diseases in the UAE coupled with rise the in elderly population.
· The UAE Health Tech Market is expected to grow at a double digit CAGR from 2018 to 2021P.
· HealthCare IT Systems contributes the most in terms of revenue currently as it has relatively higher GMV than other categories and is expected to be the highest contributing category, followed by E-Pharmacy by the year 2026.
· The target audience for Health Tech products are the general public, Hospitals, Clinics, Drug Stores & Laboratories.
· Technological development such as Artificial Intelligence, Block Chain and VR Environments are anticipated to be adopted by the players of UAE Health Tech market.

UAE Health Tech Market Future Trends

Competition Scenario: The industry is currently concentrated with presence of 9 major players operating in the E-Pharmacy in UAE, 5 major players in the online consultation market and 6 major players in the IT Solutions market. Fast Delivery, Lower Price, User Convenience, wide product assortment and availability & Ease of Payment are the major factors that influence the buying decision of the consumer. The major players include Life Pharmacy, 800 Pharmacy, Medicoplus, Intersystem, Altibbi and Okadoc.

Future Market Scenario (Upcoming Technologies): The demand for the UAE Health Tech Market is expected to expand with at a double digit 11% CAGR on the basis of GMV between 2022 and 2026. Emergence of the teleconsultation platform ecosystem enabled by mobile medical units and intermediaries, VR technology, AI & Blockchain are some of the technologies to revolutionize the world. Demand Prediction and Customer Behaviour Analysis is crucial to ensure sufficient availability and to ensure minimum degradation and stock-outs of HealthCare products.

Regulations: The UAE Health Tech Players are expected to provide users of data protection, security and website integrity and encryption through online security certificate. DHA licensed physician with appropriate skills, competencies training and knowledge in relevant technologies and tools to provide consultation services.

Analysts at Ken Research in their latest publication “UAE Health Tech Market Outlook to 2026 - Driven by Increasing demand for Convenience and Shifting Customer behavior towards Online Health services” believe that the Health Tech Market in UAE is expected to demonstrate strong growth owing to the increase in demand for deliveries of pharmaceutical products, wide product assortment, convenient & hassle-free online teleconsultation experience.

Key Segments Covered

By Product Category

E-Pharmacy
Online Consultation
HealthCare IT Solutions

By Region

UAE
Sharjah
Ajman

By Business Model

Omni Channel Model
Inventory Led Model
E-Commerce Model
Annual Subscription Model

Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTgxNjU3

Companies Covered

Life Pharmacy
800 Pharmacy
InstaShop
Aster Pharmacy
BinSina
Medicina
SouKare
Docib HealthCare
CHS Community Pharmacy
Altibbi
Okadoc
Healthigo
Health at Hand
Abu Dhabi Telemedicine Centre
Tru Doc 24x7
Intersystem
Cerner
Medicoplus
Insta-Practo
Simplex Himes
Safe Care Technology

Key Target Audience

UAE E-Pharmacy Companies
UAE Online Consultation Companies
UAE HealthCare IT Solutions Companies
Investors & Venture Capitalists

Time Period Captured in the Report: -

Historical Period: 2018 – 2021P
Forecast Period: 2022 – 2026.

Key Topics Covered in the Report

How is the UAE Health Tech Market positioned in the UAE?
Evolution of the UAE Health Tech Market
Consumer Purchase Behavior
Supply Ecosystem and Challenges
Market Size and Segmentation
SWOT Analysis
Current Technologies Facilitating UAE Health Tech Market
Upcoming Technologies in UAE Health Tech Market
Investment and Funding in UAE Health Tech Companies in UAE
Competitive Landscape – Cross Comparison of Major Players
Company Profiles
Case study & Analyst Recommendations
Research Methodology

Vietnam Health Tech Market Outlook to 2026- Driven by Increase in Internet Penetration and Mobile Applications along with Technology Advancement in the country

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Monday, August 8, 2022

UAE Health Tech Market 2022 Industry Trends, Size, Share, Competitive, Application Analysis, Growth Strategy And Forecast 2026: Ken Research

The report titled “UAE Health Tech Market Outlook to 2026 - Driven by Increasing demand for Faster Delivery & Convenience and Shifting Customer behaviour” provides a comprehensive analysis on the status of the Health Tech Market in UAE. The report includes three segments of the Health Tech Market – E-Pharmacy, Online Consultation, IT Healthcare Solutions. The report includes various aspects including, the evolution of the Health Tech Industry and comparison of the various players operating in the UAE market, need & opportunities for the Health Tech Market in UAE describing the market trends, the growth drivers and the challenges faced by the industry.

It includes detailed explanation of the various operating model which is being followed by major Health Tech players, developments, challenges, seasonality trends, current & upcoming technologies facilitating the industry. It gives detailed explanation of investment analysis, competitive scenario including cross comparison between major players, SWOT Analysis, and detailed company profiles of major players including their strength and weaknesses along with analyst recommendations.

UAE Health Tech Market Overview:

UAE Health Tech market provides the convenience of fastest possible doorstep delivery of Pharmaceutical products, convenient and instantaneous teleconsultation services which patients can avail and software products used by Hospitals, pharmacies and clinics. The Significant increase in chronic and lifestyle disease, growing aging population, increase in private and public expenditure on health along with shift in consumer behaviour during the pandemic are contributing factors for growth in the Health Tech Market.

The Health Tech Industry is currently positioned in the Early Growing Stage and is anticipated to showcase a double digit CAGR during 2018 and 2021. Increasing tendency of self-diagnosis among the population and higher affordability over the online platforms with inclusive tax relaxations, and subscription based benefits further drives the growth of the Health Tech Market.

UAE Health Tech Market Segmentation:

By Product Category:

HealthCare IT Systems contributes the most in terms of revenue currently as it has relatively higher GTV than other categories and is expected to be the highest contributing category, followed by E-Pharmacy.

Online Consultations contribute the least because customer still prefer the personal experience of visiting a doctor offline.

UAE E-Pharmacy Market:

Online Pharmacy Companies benefit in the UAE primarily as the nation has complete Internet Penetration, ~98% smartphone penetration & Technology Awareness as compared to other countries in the GCC with Life Pharmacy and BinSina dominating the market. The consumption of Over the counter (OTC) drugs, rise of dietary supplements, increasing demand for nutrition-enriched products, and soaring consumption of multivitamins is contributing to the growth in the market.

Convenience and Reduced costs of drugs sold online are factors shifting customer behavior. Consolidation of e-pharmacies with supply chain efficiencies and improved engagement with pharma companies. Technological changes such as remote monitoring, data analytics to predict customer preferences and demand of drugs can enhance customer experience. The UAE E-Pharmacy market is expected to have a double digit CAGR during 2022 to 2026.

UAE Online Consultation Market:

Social distancing and stay-at-home orders toppled the conventional care delivery model and enabled many healthcare providers to adopt telemedicine and virtual patient monitoring. The Industry had a double digit CAGR in terms of GTV during the review period 2018 to 2021P.

The Teleconsultation market is split into Video & Chat Consultation of which the former dominates the market due to the convenience of communication via the visual medium allowing the doctor to better asses the patient’s condition. General practitioners are the most common type of doctor as the most common occurring diseases do not requiring specialized doctors. Integration of fully virtual and near-virtual health solutions brings care closer to home, increasing convenience for patients to access care are the future trends and Online Consultation is expected to have a significant double digit CAGR during 2022 to 2026

UAE IT HealthCare Solutions:

Improving clinical outcomes, reducing human errors, improving practice efficiencies, facilitating care coordination, and tracking data over time are the benefits of using software solutions in the HealthCare industry.

Clinical Management software dominates the market followed by hospitals as they are the most in number. Subscription based soft wares dominates as compared to those with annul licenses as this allows different establishments to try out he services of different companies before deciding which one suits them the best. Enhanced security services, Big data Analytics and cloud computing are set to dominate the future trends of the market which is expected to grow at a double digit CAGR during 2022 to 2026.

UAE Health Tech Market Competitive Landscape:

The industry is currently concentrated with presence of 9 major players operating in the E-Pharmacy in UAE, 5 major players in the online consultation market and 6 major players in the IT Solutions market. Fast Delivery, Lower Price, User Convenience, wide product assortment and availability & Ease of Payment are the major factors that influence the buying decision of the consumer. The major players include Life Pharmacy, 800 Pharmacy, Medicoplus, Intersystem, Altibbi and Okadoc.

UAE Health Tech Market Future Outlook and Projection:

The demand for the UAE Health Tech Market is expected to expand with at a double digit CAGR on the basis of GTV between 2022 and 2026. Emergence of the teleconsultation platform ecosystem enabled by mobile medical units and intermediaries, VR technology, AI & Blockchain are some of the technologies to revolutionize the world.