Middle East Post-Acute Rehabilitation market is expected to grow over CAGR 10% in the forecast period of 2022 to 2027. Will Middle East: Ken Research

 Middle East Post-Acute Rehabilitation Market is consolidated with few major players. In March 2021, Priory Group announced that they had joined the mental health app MY POSSIBLE SELF. This app allows monitoring the parameters required for the treatment and Rehab therapy and will increase the demand for the mental therapy in the U.K region in the forecast period.

Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for rehabilitation therapy services through expanded range of size.

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1. Growing number of traffic accidents and sports injuries in Middle East.

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Growing number of traffic accidents and sports injuries increasing disabilities among the geriatric population around the world are poised to drive post-acute rehabilitation market in Middle East.

A total of 10,855 patients with road traffic injuries were encountered at the hospital emergency department. Out of these patients, 8035 were males (74.02%) while 2820 were females (25.97%). Among the males, 6037 were Saudi (75.13%) while 1998 were non-Saudi (24.86%). Among the females, 2015 were Saudi (71.45%) while 805 were non-Saudi (28.54%).

2. Increasing need for chronic healthcare, especially to tackle Alzheimer’s, Dementia, Parkinson's and Multiple Sclerosis conditions.

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Increasing need for chronic healthcare, especially to tackle Alzheimer’s, Dementia, Parkinson's and Multiple Sclerosis conditions among the growing elderly population (3.4% are 65 yrs.+ in 2019 vs forecast of 17% in 2050).

World Health Organization mandated rehabilitation as a core recommendation in the global action plan on the public health response to dementia and Alzheimer’s. Rehabilitation services are widely recognized as a practical framework to maximize independence and community participation in dementia care. A rehabilitation program is customized to achieve the desired goals, acknowledging that each person with dementia has a unique experience, preference, motivation, strength, and requirement. It is an interdisciplinary-team approach with the involvement of several health care professionals. The clinician heading the team could be a neurologist/psychiatrist.

Key Target Audience:

• Healthcare Companies
• Hospitals
• Hospital Equipment Manufacturer
• Heath-tech Companies
• Post Rehabilitation Service Providers
• Post Hospitalization Service Providers
• Elderly Care Service Providers
• Post Cancer treatment Centers

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

Companies Covered:

Key Players Covered 

• Amedisys, Inc.
• LHC Group, Inc.
• Encompass Health Corp.
• Brookdale Senior Living Inc.
• National HealthCare Corporation
• Select Medical Holdings (Select Medical Corporation)
• The Ensign Group, Inc.
• Cambridge Medical & Rehabilitation Centre (CMRC)
• Amanat Holdings
• Sukoon International Holding Company
• Priory Group

For more insights on market intelligence, refer to the link below: –

Middle East Post-Acute Rehabilitation Market Outlook to 2027

The US Medical Device Market stood at $170 Bn in 2021 owing to an upsurge in chronic lifestyle diseases & rising demand for cosmetic procedure. Will the growth sustain? Ken Research

 With total number of MedTech companies crossing the 6500 marks in 2021, the US Medical device market is currently witnessing a robust growth rate with a positive future forecast as well, says a report by Ken research

1.“Need rather than want:” An upsurge of lifestyle diseases & government intervention is propelling growth of the US medical device market.

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Growing prevalence & increasing cost of burden of lifestyle diseases have led growing emphasis of healthcare agencies, government & healthcare providers on the timely & routine treatment of patients. Thus, through awareness programs & events, several regional & national healthcare agencies have actively promoted the diagnosis & treatment of these widely prevalent diseases. This factor increases the awareness of geriatric population towards products & services for diagnosing & treatment, which is presenting a large patient pool undergoing treatment. Further, high treatment costs are driving the demand for these devices in hospitals, clinics & other healthcare settings. Additionally, to cater to the growing demand for advanced devices, market players are now investing in R&D in order to introduce advance healthcare devices with innovative capabilities such as artificial intelligence, 3D imaging, wearable heart rate trackers & others. According to sources, the total number of MedTech companies in USA crossed 6500 marks as of 2021. Furthermore, the US government is also keen on developing the medical device infrastructure provided that the total spending on devices market was over 5% of the overall health budget ($200 Bn) in 2019. All in all, rising approval of medical devices & an increased presence across the globe have further propelled market growth.

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US Medical Device Market Growth Drivers

2.“When fashion met medical requirements:” Rising demand for cosmetic procedures in the US is currently boosting the market growth of US Medical Device market.

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According to the ASPS annual plastic surgery statistics report, there were more than 18 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2018, a number that has risen steadily over the past five years. Cosmetic surgical procedure includes different type of surgeries like breast augmentation, rhinoplasty (Nose reshaping), liposuction, facelift, eyelid surgery (blepharoplasty). Along with that there are some gender specific cosmetic surgeries, in female genital cosmetic surgery includes numerous procedures, including hymenoplasty, labia majora augmentation, vaginoplasty, labiaplasty and G-spot amplification and in male breast reduction (gynecomastia surgery). These factors which mainly comes under fashion trends, are propelling a robust growth of US Medical device market.

Key Target Audience:

• Hospital
• ASC
• Clinics
• Government Agencies
• Distributors

Time Period Captured in the Report:

• Historical Period:2017- 2022
• Base Year: 2022
• Forecast Period: 2022-2027

For more information on the research reports, refer to below link:

US Medical Devices Market Outlook to 2027

Related Reports By Ken Research: -

Global Respiratory Devices Market Outlook to 2027

India POCT Market Outlook to 2027F

The UK EV Charging Market Set to Grow over £800 Mn by 2027. To what extent will government regulations stimulate market growth?

 UK EV Charging Equipment Market is at growing stage and has highly fragmented market. There are over 20 manufactures and charging networks players in market. Top 2 players such as Ubitricity and Pod Point in UK EV Charging Equipment Market hold major market share. Players are competing against each other on the basis of product range, price, number of charging stations and efficiency of services.

Leading EV Charging Service Providers UK

1. EV Market Gains Momentum with Urbanization, Technological Advancements, Green Imperatives, and Supportive Government Policies.

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• The UK is a fast-growing economy with 5% urbanization in 2022. Over 57 million people live in cities, with a literacy rate of 99.0%, making them aware of trends and social responsibilities. The high EV adoption rate of 22.9% in 2022 is the main market driver, as the population embraces environmentally-friendly concepts.

• UK government promotes EV adoption and charging infrastructure development, aiming for smart EV charging as the norm by 2025, no new petrol/diesel vehicles by 2030, and zero emissions by 2035. Technological advancements like fast charging, wireless charging, and solar-powered charging have improved the EV charging experience.

• Rising gasoline prices have led to a shift towards EVs, particularly in London where diesel prices averaged £179.3ppl and petrol prices averaged £155.0ppl in 2022, releasing harmful emissions. EVs are viewed as a solution to climate-related challenges due to zero greenhouse emissions, and increasing climate awareness is driving market growth.

2. UK Government's Strong Support for Electric Vehicles to Reduce Harmful Emissions.

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The UK provides a Plug-In grant for electric vehicles costing less than £35,000 and emitting less than 50g/km of CO2, applicable for motorcycles, taxis, vans, trucks, and mopeds. Scotland and Northern Ireland offer a no-interest loan up to £35,000 for a new electric vehicle or van and £20,000 for a used one. The Office for Zero Emission Vehicles within the UK government supports the ZEV market, providing car owners with benefits like free parking and using bus lanes.

Key Target Audience

• Electricity Supplier
• EV Manufacturers
• EV Charging Equipment Manufacturers
• EV Charging System Operator
• Demand side Transport Operators
• Government Bodies

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Period: 2022
• Forecast Period: 2022-2027

For more information on the research reports, refer to below link:

UK EV Charging Equipment Market Outlook to 2027

Related Reports:

KSA EV Charging Equipment Market Outlook to 2027F-Driven by Government Initiatives, Demand for Eco-friendly Transportation and Entry of New Brands in the market

UAE Electric Vehicle Charging Equipment Market Outlook to 2026: Driven by government support and incentives with the increasing focus to achieve green and sustainable economy

Australia Sports Equipment Market is expected to grow owing to growing disposable incomes and rising health consciousness among people in the country: Ken Research

 Australia Sports Equipment Market Ecosystem

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In Australia Sports Equipment Market there are about ~ players operating in the overall market, and top ~ players accounted ~% share in the market in terms of revenue. The Australia Sports Equipment Market is fragmented and has high intensified competition within industry players. 

Key Market Findings:

• Australia Sports Equipment Market was valued at USD ~ in 2022P and is projected to grow to USD ~ by 2027F, registering a CAGR of ~% in terms of revenue during the forecast period (2022P-2027F).
• The increasing awareness about the benefits of a healthy lifestyle and the importance of sports and fitness activities, is further stimulating the demand for such equipment.

Rising Interests in Sports: Continuous innovations and rapid technological advancements to keep pace with dynamic consumer preferences are driving the growth of the market. The increasing awareness about the benefits of a healthy lifestyle and the importance of sports and fitness activities, is further stimulating the demand for such equipment.

Government Initiatives: Over the next five years, operators in the sport equipment industry are expected to operate well, helped by stable market circumstances. Revenue for the industry is anticipated to be supported throughout the projection period by rising discretionary income and a favorable consumer climate. Government Programmes that support outdoor recreation and active living will probably also open up business opportunities.

Growing Health Awareness: Fitness industry is growing to be biggest in the world as more and more people are increasingly taking up gym membership in wake of growing health awareness and stress management. During the forecast period, the increasing sense of health-consciousness amongst the consumers is expected to stimulate the demand for taking fitness services.

Analysts at Ken Research in their latest publication “Australia Sports Equipment Market Outlook to 2027F - By Product (Ball over net games, Ball games, strength equipment, Athletic training equipment, Others) By Distribution Channel (Online retail, Specialty & sports shops and Department & discount stores), By Sports Type (Bike, Outdoor, Tennis, Other Racket Sports, Running, Fitness, Football/Soccer and Other Team Sports).” observed that Australia Sports Equipment Market is expected to showcase considerable growth in the coming five years. It is anticipated to grow more quickly in the next years owing to the growing consumer awareness about the health, rising fitness popularity and growing disposable incomes. The sports equipment market in Australia is expected to grow at ~% CAGR over the forecasted period 2022-2027F.

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Key Segments Covered in the report

By Sports Type

• Bike
• Outdoor
• Tennis
• Other Racket Sports
• Running
• Fitness
• Football/Soccer
• Other Team Sports

By Distribution Channels

• Online retail
• Specialty & sports shops
• Department & discount stores

By Product

• Ball over net games
• Ball games
• strength equipment
• Athletic training equipment
• Others

Key Target Audience

• Existing Sport Equipment Manufacturers in Australia
• Sports Companies aiming to establish in Australia
• Sports Equipment Industries
• Government Bodies & Regulating Authorities
• Online Game Industry
• E-Sports industry
• E-Sports users
• Industry Associations

Time Period Captured in the Report:

• Historical Period: 2017-2022P
• Base Period: 2022P
• Forecast Period: 2022P-2027F

For more insights on market intelligence, refer to the link below: –

Australia Sports Equipment Market Outlook to 2027F

Related Reports by Ken Research:-

The US Sports Equipment Industry Outlook to 2017

India Fantasy Sports Market Outlook to FY’2027F

Bp Plc Castrol Dominates Market Share, with Shell in Close Pursuit: Ken Research

 Bp Plc Castrol Emerges as Market Leader with Dominant Market Share, While Shell, ExxonMobil, and Total Energies Show Potential for Leadership

Story Outline

• BP PLC stands out as the market leader in the UK lubricants industry.
• Shell, although not currently in the leading position, showcases visionary qualities within the industry.
• BP PLC's strengths lie in investing in new technologies, building a network of trusted workshops, and on the other hand, Shell's strengths include its experience in the chemical industry and research into eco-friendly energy substitutes.
• According to Ken Research, if Shell expands its focus to include diverse lubricant offerings and strengthens its R&D capabilities and geographical presence, it has the potential to challenge and surpass BP PLC in the UK lubricants market in the coming years.

BP PLC, a prominent player in the UK lubricants market, has established itself as a market leader with its strong market presence and recognized brand name. On the other hand, Shell, while not currently holding the leading position, showcases visionary qualities within the industry. Both companies demonstrate their strengths in research and development (R&D) and geographical presence.

1. BP PLC: Leading the Way, with Shell as Visionaries in the Industry.

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With a strong market presence and recognized brand name, Bp Castrol holds a prominent position as the market leader in the UK. Their capabilities, including robust research and development efforts and a wide range of lubricant offerings, make them well-equipped to potentially achieve market leadership.

2. Major UK Lubricants Market Players Showcase Strong R&D and Geographical Presence as Key Strengths.

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BP PLC leads the UK lubricants market, leveraging its strong market presence, brand recognition, and diverse lubricant offerings. Meanwhile, Shell showcases visionary qualities with its experience in the chemical industry, research into eco-friendly energy substitutes, and portfolio diversification. Both companies emphasize the importance of R&D and geographical presence in maintaining a competitive edge in the industry.

For More Insights On Market Intelligence, Refer To The Link Below: –

UK Lubricant Market Outlook to 2027

GSK vs Sanofi - A Battle for Medical Breakthroughs and Global Healthcare Dominance: Ken Research

 Global Pharmaceutical leaders GSK and Sanofi competing for market share in vaccines, general healthcare with investments in R&D and new collaborations.

Storyline

• Sanofi, a global pharmaceutical company, has a strong market presence in therapeutic areas like diabetes, cardiovascular diseases, and vaccines. Sanofi Pasteur, its vaccines division, is a leading manufacturer worldwide.
• GSK, a British multinational, excels in respiratory health, HIV, vaccines, and consumer healthcare. GSK Vaccines is renowned for its vaccine offerings.
• Both companies heavily invest in R&D to innovate and develop new drugs and vaccines. Sanofi emphasizes partnerships, while GSK focuses on genetically identified and infectious disease targets.
• Strategic collaborations drive their growth strategies. Sanofi partners with Regeneron Pharmaceuticals and has a premium partnership for the Paris 2024 Olympic and Paralympic Games. GSK collaborates with organizations like the University of California and IDEAYA in areas like oncology.

Introduction

Sanofi and GSK are both global pharmaceutical companies engaged in the research, development, manufacturing, and marketing of a wide range of pharmaceutical products, including prescription medicines, vaccines, and consumer healthcare products.

1. Revenue and Market Presence:

Sanofi:

Sanofi is a French multinational pharmaceutical company with a significant global presence. It has a diverse portfolio of products across various therapeutic areas, including diabetes, cardiovascular diseases, vaccines, and rare diseases. Sanofi is one of the top pharmaceutical companies worldwide. It is headquartered in Paris, France. In 2022, influenza vaccines generated approximately three billion euros of revenue.

GSK:

GlaxoSmithKline, a British multinational pharmaceutical company, is also a major player in the global pharmaceutical industry. It operates in various segments such as pharmaceuticals, vaccines, and consumer healthcare. GSK has a strong presence in areas like respiratory health, HIV, vaccines, and consumer healthcare products. 

Product Portfolio:

Sanofi:

Sanofi's product portfolio includes branded prescription drugs such as Lantus (insulin), Dupixent (for atopic dermatitis and asthma), and Aubagio (for multiple sclerosis). Sanofi also has a significant presence in the vaccine market, including vaccines for influenza, meningococcal diseases, and paediatric diseases.

GSK:

GSK's product portfolio encompasses prescription medicines like Advair (for respiratory diseases), Augmentin (antibiotic), and Tivicay (for HIV). GSK has a strong focus on vaccines, including those for hepatitis, shingles, and influenza. Additionally, it offers a wide range of consumer healthcare products, including Sensodyne, Panadol, and Voltaren.

Vaccine Market:

Both Sanofi and GSK have notable expertise and market presence in the vaccine segment. However, their focus and capabilities may vary.

Sanofi

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Sanofi is known for its vaccines division, Sanofi Pasteur, which develops vaccines for various diseases, including influenza, dengue, polio, and meningitis. Sanofi Pasteur is one of the largest vaccine manufacturers globally.

GSK

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GSK has a substantial presence in vaccines as well. It produces vaccines for diseases such as hepatitis, shingles, rotavirus, and meningitis. GSK's vaccine division is called GSK Vaccines.

Research and Development (R&D):

Both Sanofi and GSK invest significantly in research and development activities to discover and develop new drugs and vaccines.

Sanofi

Sanofi has multiple R&D centres globally, focusing on various therapeutic areas. It emphasizes partnerships and collaborations to enhance its R&D efforts. “We’ve identified conditions in immunology and inflammation as areas of great opportunity. The challenge of developing new treatments for conditions such as atopic dermatitis and asthma is just one of the many in which we believe AI can offer game-changing aid." said Generous-Marlin.

GSK

In 2022, GSK invested £5.5 Bn in R&D – 9% AER more than 2021 - to enhance GSK’s pipeline of vaccines and medicines and help us get ahead of disease together. GSK scientists prioritise genetically identified targets that are at least twice as likely to succeed in the clinic.  They also prioritise infectious disease targets and immune-modulators that have greater lifecycle opportunities.

Strategic Collaborations and Partnerships:

Both companies actively pursue strategic collaborations with other pharmaceutical firms, research institutions, and biotech companies to strengthen their pipelines and access new technologies. Sanofi has entered into various collaborations, such as its partnership with Regeneron Pharmaceuticals for the development of biologics, including Dupixent.

Sanofi announces Paris 2024 Premium partnership for the Olympic and Paralympic Games in Paris.

"Sanofi is proud to contribute to the success of the Olympic and Paralympic Games Paris 2024. It represents a great opportunity to unite our employees around shared values with the Olympics and Paralympics, such as inclusion and diversity, openness to the world, courage, determination and excellence." Says Paul Hudson, Sanofi CEO. GSK has formed partnerships with multiple organizations, including the University of California, to explore novel therapies and approaches in areas like oncology and immunology.

IDEAYA and GSK Announce a Broad Partnership in Synthetic Lethality, an Emerging Field in Precision Medicine Oncology

It's important to note that the competitive landscape in the pharmaceutical industry can be dynamic, with mergers, acquisitions, and new product launches shaping the market.

According to Ken Research: Sanofi and GSK compete in various therapeutic areas, with diverse product portfolios and a focus on vaccines. They invest in R&D and form strategic collaborations to drive innovation. The dynamic nature of the pharmaceutical industry, characterized by mergers, acquisitions, and product launches, shapes their competitive landscape.

What changed in KSA Fitness Services Market, post COVID-19? : Ken Research

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Substantial increases in health problems since the past decade including diabetes, obesity, hypertension, and others have increased the demand for fitness services in KSA. Owing to this spur in demand for fitness services, major fitness chains, and gyms have been expanding their presence throughout the Saudi Arabia market.

However, during the lockdown, offline fitness service centers faced a setback but in midst of the pandemic, the online fitness service market saw a big jump.

In this edition, we have highlighted how the global pandemic has impacted the KSA fitness service market and given rise to the online workout trend in KSA.

1. With a population of 35.01 million as of 2020, KSA’s economy has been growing at 0.6% compound annual growth during 2017-2020

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2. People in KSA, regardless of their age participate in Fitness Activities such as Walking, Cycling, Running or have a membership at a Fitness Center

3. However, majority of the population in KSA are inactive and the rest spend 1-4 hours exercising per week by performing physical activity in the form of Yoga, Meditation to stay fit and healthy

4. Hence, Fitness Industry in KSA is an underpenetrated market with just has just ~3% penetration rate

5. But, KSA Government has launched various programs, in an attempt to encourage increased physical activity among the population through personalized schemes

6. Demand for fitness centers in KSA is mostly driven by Increasing Local Gyms and Fitness Centers, Variety of Service Offerings, Specialized Fitness Programs, and Demand for Water Training

7. Post-COVID-19, the offline fitness centers facing declining memberships quickly caught on by offering on-demand and livestream group workouts through their own websites or with the help of social media

8. Brick and Mortar fitness centers are facing competition from online weight loss programs owing to the growing prominence of social marketing and platforms that have started online fitness tutorials

9. Majority of the population in KSA are interested in carrying out some form of physical activity or prefer at-home fitness providing enormous opportunities for the fitness centers

Some of the Intelligence Curated by Ken Research in Fitness Services Market Space:

1. France Fitness Services Market Outlook to 2027F driven by increase in health & fitness consciousness & the rise of boutique fitness
2. Germany Fitness Services Market Outlook to 2027F driven by increase in health & fitness consciousness & innovation in fitness industry
3. China Fitness Market Outlook to 2027F By Market Structure (Organized, Unorganized) By Revenue Stream (Membership, Personal Trainer, Supplementary Services) By Subscription (3 months, 6 months, 1 year, Others) By Gender (Male, Female)
4. Belgium Fitness Services Market Outlook to 2027F By Type of Market (Organized Market, Unorganized Market), By Source of Revenue (Membership Fee, Personal Training), By Payment Method (Card, Cash, Bank Transfer, Digital wallet, Others), By Subscription Period (1 Month, 3 Month, 6 Month, 12 Month)
5. Nigeria Fitness Service Market Outlook To 2027F By Market Structure (Organized and Unorganized), By Revenue Streams (Membership Fee and Personal Training), by Membership Subscription Package (1, 3, 6 & 12 Months)

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KSA Digital Fitness Services Market

Warehousing space in Riyadh has grown into 16 Mn sqm in 2022. Registering a growth rate of 6%. Will KSA continue to support the warehousing market in future? : Ken Research

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Saudi Arabia warehousing market is highly fragmented with many organized and unorganized small players concentrated in major cities like Riyadh, Jeddah and Dammam. Some of the top players are LSC Logistics, Agility Logistics, Almajdouie Logistics.

 1.Increasing Cold Chain Capacity in KSA

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Other important elements that have fueled the expansion of cold storage facilities and cold storage logistics in Saudi Arabia include the adoption of advanced technologies like automation and WMS (warehouse management systems) to improve functionality and efficiency

Latest acquisitions and partnerships in Cold chain sector

Saudia Cargo has added Tower Cold Chain to its approved roster of temperature-controlled containers for shipping pharmaceutical, biotech and life science products, in a new global rental agreement. The deal reinforces Saudia Cargo's commitment to having the broadest possible selection of cold chain products (both in terms of cargo size and temperature requirements) to serve the growing requirements of pharmaceutical customers from around the world. A key benefit of Tower Cold Chain's technology is its reliability in maintaining product integrity without the need of electricity even in extreme heat, meaning that a robust solution is required to prevent temperature excursions.

2.Saudi Arabia warehousing market is moving towards real estate Investments with logistic companies promoting partnerships

Organized Warehousing Supply

Saudi Arabia has large no. of organized warehouses with 15.4 Mn sqm warehousing space in Riyadh and 12.3 Mn sqm in Jeddah.

Space Moving Towards Consolidation

Unorganized sector cannot compete with the huge investments and tech advancements and is losing business.

MNCs Driving Competition in the Sector

MNCs adhere to strict global standards of quality in providing warehousing services, which is driving Saudi Arabia companies to follow the same.

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KSA Warehousing Market Segmentation

By Ownership

• Owned
• 3PL

By City

• Riyadh
• Jeddah
• Others including Damam and more

By End-Users

• Consumer Retail
• Food and Beverages
• Healthcare
• Automotive
• Others

By Business Model         

• Industrial/Retail Warehouses
• CFS/ICD Warehouses
• Cold Storage
• Agriculture and Other Warehouses

Major Players Mentioned in the Report:

• LSC Logistics
• Agility Logistics+DSV
• Almajdouie Logistics
• Mosanada Logistics
• Tamer Logistics
• BAFCO International Logistics and Shipping Co.
• Hala Supply Chain
• United Warehousing Co.
• Wared Logistics
• Kanoo Terminal
• Logipoint
• DHL Global Forwarding
• GAC

Key Target Audience

• E-commerce Companies
• Third-Party Logistic Providers
• Potential Market Entrants
• Freight Forwarding Companies
• Warehousing Companies
• Cold Storage Companies
• Industry Associations
• Consulting Agencies
• Government Bodies & Regulating Authorities

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer to the Link Below: –

Saudi Arabia Warehousing Market Outlook to 2027

Related Reports by Ken Research: –
Kuwait Warehousing Market Outlook to 2026F

UAE Warehousing Automation Market Outlook to 2026F

Online Pharmacy Drives KSA Health Tech Market with 92.5% Smartphone Penetration and Boosted Healthcare Budget, What’s Next?: Ken Research

 Online Pharmacy Market (Segment of Health Tech Market in KSA) is expected to growth at a robust CAGR of 9.0% in next 5 years, says a report by Ken Research

The Health Tech Market in KSA is highly consolidated with highly competitive rivalry among the competitors. Some of the popular Health Tech brands like Nahdi Medical Co., Cura and Balsam United compete on the basis of price, business model, delivery option, average number of consultancies per day, consultation split, margin, customization and technology.

1. COVID-19 Pandemic Propels Growth in KSA's Online Pharmacy Market with Strong CAGR from 2017-2022 Due to Government Restrictions.

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The COVID-19 pandemic and a growing online population have increased reliance on online pharmacies in recent years. By 2022, the elderly population (65+) is expected to account for around 4% of the KSA population, further contributing to the growth of the e-pharmacy sector as they make up a significant portion of the general pharmacy market. In 2019, 15.6% of the healthcare budget was allocated to healthcare in KSA, which has also benefited the e-pharmacy market.

2. Challenges Faced by KSA's Online Pharmacy Market: Stringent Regulations for Prescribed Drugs and Risks of Data Breaches.

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Importing prescription drugs into KSA is a strict and lengthy process with government-imposed measures to prevent abuse. In the competitive online pharmacy market, price wars pose a challenge for new entrants. E-pharmacies lack physical evaluations, making it easier for users to bypass safety nets, increasing the risk of prescription fraud. Efficient software and transparent privacy policies are essential for preventing the leaking of financial and personal information to third parties.

3. Addressing Challenges: High Smartphone Penetration and Convenient Services of Online Pharmacies Driving Market Growth in KSA.

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Online pharmacies provide convenience to consumers who can order prescription medicines without leaving their homes, especially for those who live far from physical pharmacies, the elderly, disabled, and those with busy schedules. With a high smartphone penetration rate in KSA, reaching 92.5% in 2022, online pharmacies have become more accessible to consumers, and they offer discounted prices and reliable sources of medicine. The privacy of online platforms is also appealing to customers with sensitive health conditions.

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

Companies Covered:

1. KSA Online Pharmacy Market:

• Nahdi Medical Co.
• Al-Dawaa Pharmacy
• Boots Pharmacy
• Ghaya Pharmacies Ltd.

2. KSA Online Health Consultation Market:

• Altibbi
• Vezeeta
• Cura
• Sanar
• Nahdi

3. KSA Healthcare IT Solutions Market:

• Balsam United
• Cerner
• Selat
• Anova Health
• Insta-Practo
• Cloud Pital

For more insights on market intelligence, refer to the link below: –

KSA Health Tech Market Outlook to 2027

Related Reports by Ken Research:-

UAE Health Tech Market Outlook to 2026

Vietnam Health Tech Market Outlook to 2026

Philippines Health Tech Market Outlook to 2025

Australia Cards and Payment Market is expected to grow at a robust CAGR, owing to the rising of contactless payments as well as the emergence of digital wallets: Ken Research

 Australia Cards and Payment Market is in the growing stage, owing to the rising of contactless payments, increasing debit card usage and the emergence of digital wallets. The Cards and Payment Industry in Australia is highly fragmented with key players such as CommBank, Westpac, ANZ, NAB and Bendigo and Adelaide Bank etc.

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Key Market Findings:

• Australia Cards and Payment Market was valued at USD ~ in 2022 and is projected to grow to USD ~ by 2027F, registering a CAGR of ~% during the forecast period (2022-2027F).
• Cards and payments companies are investing in technologies and formulating guidelines to prevent card and payment fraud.

Adoption of Contactless Payments: With consumers becoming more accustomed to contactless payments and the advantages they offer, and merchants who were reluctant or unable to accept contactless payments are now being able to do so, the pandemic-driven shift towards contactless is likely to represent a sea of change; payment habits formed during the pandemic are likely to continue, as an increased number of consumers have now discovered the benefits of contactless payments. As a result of this shift, there will be increased demand for contactless payments across all mechanisms going forward. The adoption of contactless payments for public transport will also help drive payment card use.

Increasing Popularity of Debit Cards: When paying with a card, Australians are increasingly choosing debit cards rather than credit cards. Over the past decade, the value of debit card payments has grown much more as compared to credit cards. Moreover, the number of domestic credit card accounts has fallen since 2018. The 2019 CPS showed that debit cards are now the most frequently used method of payment by Australian consumers, compared with credit cards. The increase in the popularity of debit cards compared with credit cards is likely to reflect a range of factors, including reductions in the generosity of credit card rewards programs and changing attitudes towards accumulating this type of personal debt, particularly among younger consumers. Another factor has been the introduction in the mid-2000s of international scheme debit cards, which provide much of the same payment functionality as credit cards. This is contributing to the overall market growth.

Analysts at Ken Research in their latest publication “Australia Cards and Payment Market Outlook to 2027F -  By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATM's), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)” observed that Australia Cards and Payment Market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to rising of contactless payments, increasing debit card usage and the emergence of digital wallets. The Cards and Payment Market in Australia is expected to grow at ~% CAGR over the forecasted period 2022-2027F.

Key Segments Covered in the report

By Cards

• Debit Cards
• Credit Cards
• Prepaid Cards

By Payment Terminals

• POS
• ATM's

By Payment Instruments

• Credit Transfers
• Direct Debit
• Cheques
• Cash
• Payment Cards

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Key Target Audience

• Government Bodies and Regulatory Authority
• Fintech Companies
• Investors and Financiers
• Venture Capitalist
• New Market Entrants
• Banks
• NBFCs

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Period: 2022
• Forecast Period: 2022-2027F

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Companies Covered:

• CommBank
• Westpac
• ANZ
• NAB
• Bendigo and Adelaide Bank
• Credit unions and building societies
• Suncorp
• Heritage Bank
• Bank of Queensland
• Citibank
• HSBC
• eftpos
• Visa
• Mastercard
• American Express
• Diners Club
• Worldline
• Tyro
• Fiserv
• PayPal
• Apple Pay
• Afterpay
• Google Pay
• Klarna
• Samsung Pay
• POLi
• Click to Pay
• Beem

Key Topics Covered in the Report

• Australia Cards and Payment Market Overview
• Australia Cards and Payment Market Segmentation
• Ecosystem of Australia Cards and Payment Market
• Market Share of Major Players in Australia Cards and Payment Market
• Industry Analysis of Australia Cards and Payment Market
• Value Chain of Cards and Payment Market in Australia
• Key Growth Drivers of Australia Cards and Payment Market
• End User Analysis of Australia Cards and Payment Market
• Key Challenges of Australia Cards and Payment Market
• SWOT Analysis of Australia Cards and Payment Industry
• Future Outlook of Australia Cards and Payment Market
• Trends and Development of Australia Cards and Payment Market

For more information on the research reports, refer to below link:

Australia Cards and Payment Market Outlook to 2027F

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