Saudi Arabia AI in Medical Diagnostics Market Assessment, By Component Type [Software, Services, Hardware], By Diagnosis Type [Diagnostic Imaging, In-Vitro Diagnostics, Others], By Application [Oncology, Neurology, Cardiology, Radiology, Pulmonology, Obstetrics/Gynecology, Others], By Technology [Natural Language Processing, Machine Learning, Context-Aware Computing, Computer Vision], By End-user [Hospitals, Diagnostic Imaging Centers, Diagnostic Laboratories, Others], By Region, Opportunities and Forecast, 2017-2031F

Saudi Arabia AI in Medical Diagnostics Market is projected to witness a CAGR of 26.97% during the forecast period 2024-2031, growing from USD 34.37 million in 2023 to USD 231.77 million in 2031.

Saudi Arabia AI in Medical Diagnostics Market Size, Growth, Report 2031

Saudi Arabia AI (Artificial Intelligence) in medical diagnostics market&nbsp;is projected to witness a&nbsp;CAGR of 26.97%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 34.37 million&nbsp;in 2023 to&nbsp;USD 231.77 million&nbsp;in 2031. The market is mainly growing under the influence of the rising genetic disease burden, the positive impact of the &ldquo;Saudi Vision 2030&rdquo; initiative, and government efforts to improve healthcare and diagnostic facilities.
Saudi Arabia is a fast-growing economy that is highly focused on its healthcare infrastructure. The rising adaptation of technology in the country is driving rapid growth for AI-based medical diagnostics. The AI in the medical diagnostics market for Saudi Arabia is anticipated to thrive at a faster pace during the forecast period due to collaborative efforts of market players, government, academic institutes like King Abdullah University of Science and Technology (KAUST), and other related authorities such as Saudi Data and Artificial Intelligence Authority (SDAIA). For instance, In January 2024, GE HealthCare Technologies, Inc. unveiled 19 AI-powered innovations at Arab Health 2024, focusing on enhancing healthcare delivery in the MENEAT region. These innovations include advanced imaging and ultrasound solutions aimed at improving clinical decision-making and patient outcomes. Notable products like the Omni Legend PET/CT and Vscan Air ultrasound system will showcase cutting-edge technology designed for better diagnostics and treatment. This launch aligns with the region's shift towards preventive care and aims to address significant clinical challenges through enhanced technology and collaboration.
<h2 style="text-align: justify;">Positive Impact of &ldquo;Saudi Vision 2030&rdquo;</h2>
Saudi Arabia&rsquo;s campaign for &ldquo;Saudi Vision 2030&rdquo; is bringing drastic changes to the market. Saudi Arabia is set on an ambitious journey to integrate AI across various sectors, including healthcare. The gradual integration of AI technologies into the daily operations of hospitals, medical diagnostics, and other medical facilities is anticipated to strengthen the country's healthcare infrastructure as it strives to cement its position as a global leader. The AI integration in medical diagnostic products and services within the country is expected to bring a major boost to the market, leading to a robust CAGR of 26.97% in Saudi Arabia AI in medical diagnostics market. The &ldquo;Artificial Intelligence Index Report 2023&rdquo; published by Stanford University clearly states that around 76% of Saudi Arabia population feels positive about the AI integration and related products, which further strengthen the market growth.
<h2 style="text-align: justify;">Rising Prevalence of Genetic Diseases Support Market Growth</h2>
The increased prevalence of genetic disorders in Saudi Arabia is largely attributed to cultural practices, particularly consanguineous marriages, which are common in the region. Such unions elevate the risk of recessive genetic diseases, leading to a significant number of genetic disorders among the population. This rise in genetic disorders has heightened the demand for AI integration in medical diagnostics. AI technologies can enhance the accuracy and efficiency of genetic testing and disease identification, allowing for earlier interventions and personalized treatment plans. As healthcare systems seek to address these challenges, AI's role in analyzing genetic data and predicting disease outcomes becomes increasingly vital. For instance, as per a research article published in Frontiers in Genetics in September 2023, the consanguineous marriage rate was high (56%), and homozygous autosomal recessive variants, which are the major cause of genetic diseases, accounted for nearly 50% of the total variants.
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<h2 style="text-align: justify;">Diagnostic Imaging Segment is Expected to Account Major Market Share</h2>
The need for efficient diagnostic processes positions the diagnostic imaging segment as a major market share holder in the Saudi Arabian AI in medical diagnostics market. Heavy reliance on radiology solutions and tremendous opportunities for AI integration in such devices bring major growth. As healthcare continues to evolve, the reliance on advanced imaging technologies will likely grow, solidifying their market share in the coming years. In November 2023, Lunit Inc. announced the deployment of its AI-powered chest screening solution, Lunit INSIGHT CXR, in five major hospitals in Saudi Arabia. This initiative aims to enhance the early detection of common lung abnormalities, such as lung cancer and tuberculosis, aligning with the national health strategy. The hospitals involved include the National Guard Hospital and King Abdulaziz Medical City in Riyadh, among others. This partnership builds on Lunit's previous collaborations in the region, emphasizing the growing role of AI in healthcare.
Future Market Scenario (2024-2031F)
Collaborative efforts of industry and academia in the region to enhance AI integration in healthcare systems and medical diagnostics are the major drivers for the market, which will lead to tremendous growth. For instance, in July 2024, the Saudi Data and Artificial Intelligence Authority (SDAIA) and King Abdullah University of Science and Technology (KAUST) collaboratively launched MiniGPT-Med. It serves as a versatile interface for radiology diagnostics, integrating image analysis with clinical data to enhance diagnostic accuracy. The model can analyze various imaging modalities, including X-rays, CT scans, and MRIs, and is capable of tasks such as disease identification, medical report generation, and visual question answering.
Report Scope
&ldquo;Saudi Arabia&nbsp;AI in Medical Diagnostics Market&nbsp;Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of Saudi Arabia AI in medical diagnostics market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 26.97% between 2024 and 2031
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Revenue Forecast in 2031
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USD 231.77 million
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Segments Covered
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Component Type, Diagnosis Type, Application, Technology, End-user
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Regions Covered
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Riyadh, Makkah, Eastern Region, Madinah, Rest of Saudi Arabia
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Key Companies Profile
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Alphabet Inc., NVIDIA Corporation, International Business Machines Corporation (IBM), Microsoft Corporation, Saudi Company for Artificial Intelligence (SCAI), Koninklijke Philips N.V., GE HealthCare Technologies Inc., INTEGRATED DIAGNOSTICS HOLDING PLC, Digital Diagnostics Inc., TAMER GROUP
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;Saudi Arabia AI in medical diagnostics market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Component Type
<ul>
<li>Software</li>
<li>Services</li>
<li>Hardware</li>
</ul>
</li>
<li>By Diagnosis Type
<ul>
<li>Diagnostic Imaging</li>
<li>In-vitro Diagnostics</li>
<li>Others</li>
</ul>
</li>
<li>By Application
<ul>
<li>Oncology</li>
<li>Neurology</li>
<li>Cardiology</li>
<li>Radiology</li>
<li>Pulmonology</li>
<li>Obstetrics/Gynecology</li>
<li>Others</li>
</ul>
</li>
<li>By Technology
<ul>
<li>Natural Language Processing</li>
<li>Machine Learning</li>
<li>Context-Aware Computing</li>
<li>Computer Vision</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Hospitals</li>
<li>Diagnostic Imaging Centers</li>
<li>Diagnostic Laboratories</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>Riyadh</li>
<li>Makkah</li>
<li>Eastern Region</li>
<li>Madinah</li>
<li>Rest of Saudi Arabia</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The growth of Saudi Arabia AI in medical diagnostics market is supported by the rising investments by the key market players toward introducing novel solutions in the country for effective diagnostics. Strategic collaborations and partnership agreements among players strengthen the market.
In May 2024, Bioniq Health-Tech Solutions entered the Saudi market through a strategic partnership with Al Borg Diagnostics to offer personalized supplements based on blood test data. This collaboration aims to enhance access to tailored health solutions across 28 cities in Saudi Arabia. Bioniq&rsquo;s products, including Bioniq GO and Bioniq PRO, will utilize a 50-parameter blood test to create customized supplement formulas.
In February 2023, Digital Diagnostics Inc. announced a strategic partnership with Tamer Healthcare (subsidiary of Tamer Group) in Saudi Arabia to enhance healthcare innovation as part of Saudi Vision 2030. The collaboration will initially focus on distributing Digital Diagnostics' IDx-DR, the first FDA-cleared AI system for diagnosing diabetic retinopathy, addressing the needs of over 8 million individuals at risk of vision loss due to diabetes. Both companies aim to develop additional AI healthcare applications, fostering local innovation and improving access to quality care in the Kingdom.
Key Players Operating in Saudi Arabia AI in Medical Diagnostics Market are:
<ul style="text-align: justify;">
<li>Alphabet Inc.</li>
<li>NVIDIA Corporation</li>
<li>International Business Machines Corporation (IBM)</li>
<li>Microsoft Corporation</li>
<li>Saudi Company for Artificial Intelligence (SCAI)</li>
<li>Koninklijke Philips N.V.</li>
<li>GE HealthCare Technologies Inc.</li>
<li>INTEGRATED DIAGNOSTICS HOLDING PLC</li>
<li>Digital Diagnostics Inc.</li>
<li>TAMER GROUP</li>
</ul>
Markets and Data report answers the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Saudi Arabia AI in Medical Diagnostics Market Assessment, Opportunities and Forecast, 2017-2031F

Saudi Arabia AI in medical diagnostics market is expected to witness significant growth in the coming years due to the rising genetic disease burden, positive impact of the “Saudi Vision 2030” initiative, and government efforts to improve healthcare and diagnostic facilities.

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