UAE Health Tech Markets Outlook 2022-2026: E-Pharmacy, Online Consultation, IT Healthcare Solutions - Increasing Demand for Faster Delivery & Convenience and Shifting Customer Behaviors - ResearchAndMarkets.com

The "UAE Health Technology Market Outlook to 2026 - Driven by Increasing Demand for Faster Delivery & Convenience and Shifting Customer Behavior" report has been added to ResearchAndMarkets.com's offering.

UAE Health Tech Market Outlook report provides a comprehensive analysis on the status of the Health Tech Market in UAE.

The report includes various aspects including, the evolution of the Health Tech Industry, 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.

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 behavior 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.

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.

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.

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 assess 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

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.

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.

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.

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 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

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

For more information about this report visit https://www.researchandmarkets.com/r/n18slo

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005480/en/