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Future Growth Potential Enhanced by Healthcare Infrastructure Upgrade Strategies and Digitization Initiatives
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The Kingdom of Saudi Arabia (KSA) is expected to experience economic growth despite oil price complications due to its economic diversion from the oil industry to other industries, with initiatives and strategies that encourage private sector participation. Apart from robust economic growth, the region’s business environment will also change radically with the emergence of new business models. This is particularly prominent in the healthcare industry, which is undergoing a digital transformation to make healthcare more accessible.The KSA accounts for about 60% of the healthcare industry’s revenue in the Gulf Cooperation Council (GCC). With rising awareness among consumers and the shortage of skilled resources, demand for technology and digitization in the healthcare industry is higher than ever. Upgrading healthcare infrastructure and investing in start-ups will open doors for competition and make quality healthcare more affordable.In 2021, significant changes and disruptions in digital service-enabled healthcare are expected. Healthcare delivery and management will become more consumer-centric as tools powered by artificial intelligence and virtual patient-care provider interactions become the new normal. Data-driven interoperability and personalized diagnostics will accelerate the delivery of precision care based on predictive analytics, paving the way for better, more efficient decision-making for the patient and care provider. This will also promote partnerships between big technology companies that design care delivery models and healthcare organizations.This study supports investors, healthcare companies, and other GCC organizations in understanding the growth potential and opportunities in the rapidly evolving industry of healthcare.
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Author: Surbhi Gupta
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