Egypt Telemedicine Market Analysis

Egypt Telemedicine Market Analysis


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The Egypt telemedicine market size is at around $170 Mn in 2022 and is projected to reach $717 Mn in 2030, exhibiting a CAGR of 19.7% during the forecast period. The driving factors for potential growth in the Egyptian market are the prevalence of chronic diseases, the increasing cost of healthcare, the 5G network, and so on. The telemedicine industry is segmented by component, modality, application, and delivery mode. It also shows the competitive firms like Vezeeta, Clinido, Estshara, Schneider Electric, Siemens AG, and many more.

ID: IN10EGDH010 CATEGORY: Digital Health GEOGRAPHY: Egypt

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Egypt Telemedicine Market Executive Summary

The Egypt telemedicine market size is at around $170 Mn in 2022 and is projected to reach $717 Mn in 2030, exhibiting a CAGR of 19.7% during the forecast period 2022-2030. By providing a supportive legal and regulatory environment, an adequate Information and Communications Technology (ICT) infrastructure, and a Ministry of Information and Communications Technology (ITI), Egypt has made significant progress toward creating the Information Society (IS). There have been several initiatives to promote the use of telemedicine in Egypt, including the establishment of telemedicine centers and the development of telemedicine training programs for healthcare providers.

Egypt's government spent an average of 5.2% of its total budget, or 1.5% of GDP, on healthcare services from fiscal years 2016 to 2021. In comparison to the $ 0.97 Bn that was allocated for FY 2021-2022, public investments in healthcare are set at $1.26 Bn in FY 2022-2023, an almost 30% increase.

Egypt Telemedicine Market Analysis

Market Dynamics

Market Growth Drivers Analysis

The prevalence of chronic diseases is increasing, and the cost of healthcare is rising, which is also speeding up market growth. Due to a shortage of qualified personnel and the necessary infrastructure for delivering healthcare in remote areas, the Egypt Telehealth Market is growing. The virtual healthcare platform's ability to provide affordable and practical remote consultations, particularly for the geriatric population, has contributed to the expansion of the telehealth market in Egypt. Aspects of healthcare could be completely transformed and improved thanks to 5G networks, which are now accessible in various parts of Egypt.

Market Restraints

Lack of patient awareness and acceptance of receiving medical services via telemedicine networks and applications is one factor that may restrain the market growth of telemedicine in Egypt. The project's inability to continue its operations due to a lack of funding and legal frameworks is another issue. Both professional standards and programs to build capacity are lacking.

Competitive Landscape

Key Players

  • Vezeeta (EGY)
  • Clinido (EGY)
  • Estshara (EGY)
  • Schneider Electric (EGY)
  • Siemens AG (EGY)
  • Nabda Care (EGY)

Notable Recent Deals

December 2022: Exits MENA signs a takeover deal in the Egyptian health tech industry, with CheckMe acquiring a majority stake in DoctorOnline, a doctor appointment booking app. A press release states that the transaction increases the market value of the health tech platform CheckMe, which is based in Egypt, to $20 Mn. This acquisition shows how health tech in the area is still expanding, particularly in telemedicine, e-pharmacy, and e-diagnostics, which have all seen significant growth since the COVID-19 outbreak.

August 2022: To serve the Bedouin communities of South Sinai and ensure the needs of the governorate's residents were met, Egypt's General Authority for Health Care made the decision to establish a mobile clinic networked with a virtual hospital.

Healthcare Policies and Regulatory Landscape

In Egypt a supportive legal and regulatory environment is being created by signing agreements on intellectual property rights, establishing the National Telecommunications Regulatory Authority (NTRA), adopting progressive legal measures to encourage the growth of ICT, and passing communications laws to liberalize Egyptian communications industry.

Reimbursement Scenario

In Egypt, virtual clinic consultations were typically not covered by insurance. But later in April 2020, AXA Egypt began offering a number of healthcare services to its customers including home healthcare services, medical consultations through its mobile application, medicine delivery, screening, testing, and analysis of health issue services for its customers. The Public Health Care Authority launched a telemedicine services application in August 2020, according to a statement from the Egyptian Ministry of Health, and it will offer online medical services through the country's national health insurance program.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Telemedicine Market Segmentation

Component

  • Product
    • Hardware
    • Software
    • Others
  • Services
    • Tele-consulting
    • Tele-monitoring
    • Tele-education

Modality

The industry is driven by three concepts, which include real-time (synchronous), store and forward (asynchronous), and others comprising remote patient monitoring, etc.

  • Store and forward
  • Real-time
  • Others

Application

  • Teleradiology
  • Telepsychiatry
  • Telepathology
  • Teledermatology
  • Telecardiology
  • Others

Delivery Mode

  • Web/Mobile
  • Audio/Text-based
  • Visualized
  • Call centers

Facility

  • Tele-hospital
  • Tele-home

End-user

  • Providers
  • Payers
  • Patients
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 31 May 2023
Updated by: Dhruv Joshi

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