Wonder

HealthTech Industry - MENA Region

Delivered April 12, 2020. Contributor: Gbolahan G.

Goals

Provide an analysis of the heath-tech industry in the  Middle East and North Africa  (MENA) region covering the current supply gap, mobile penetration rate, market size, regulatory landscape, and initiatives, demographics, description, and evolution. 
Provide an analysis of the health-tech industry focusing on global trends, demographics, traditional transformation cycles, and key players.
Provide an analysis of the health -tech sector in the Eastern Mediterranean (EM) region covering favorable demographics, tech-savvy population, need for healthcare inclusion, stakeholders, enablers, transformation, and case studies.
Provide an analysis detailing some of the emerging challenges and opportunities observable in the health-tech industry, projected regulatory and infrastructure growth, and emerging business models and use cases. 

Early Findings

In 2017, about 64 percent of individuals living in the MENA regions were subscribed to a mobile service.  This figure is expected to reach 69 percent by 2025. 
Globally, MENA remains the second least penetrated region in the world. By 2025, the world's average mobile penetration rate will rise to 71 percent, 2 percent higher than the MENA region. 
The global digital health market was valued at $71 .4 billion in 2017, and it is expected to grow to $379 billion by 2024. 
The e-Health market in the Middle East and Africa was valued at $989 million in 2019. The market is also projected to reach $1.8 billion in 2024, growing at a CAGR of 12.8 percent. 
Overall, the Middle East and North Africa (MENA) healthcare market is projected to reach $144 billion by year-end 2020, mostly driven by the private health sector, which controls a third of the market. 
According to MarketWatch, the Middle East and Africa digital health market is estimated to grow at a moderate rate. The growth is fostered by growing literacy levels and a significant young population.  
In addition, the adoption of smartphones in the Middle East and North Africa (MENA) region is anticipated to rise from 52 percent in 2018 to 74 percent in 2025.
According to HubSpot, the use of artificial intelligence in diagnosis and patient care is considered the most significant trend in health-tech. 
Another top trend is the use of virtual and augmented reality in surgeries and training. The technology is currently being touted as the most effective and risk-free approach to surgical management. 

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