Smart Healthcare Market Summary
The global smart healthcare market was estimated at 188.86 billion US dollars in 2024 and is projected to reach 385.28 billion US dollars by 2030, growing at a CAGR of 12.51% from 2025 to 2030. Technological advancements, rising healthcare costs, and an increasing demand for efficient, patient-centered care are driving this growth.
Key Market Trends & Insights
- North America dominated the smart healthcare market and accounted for a revenue share of over 36.85% in 2024.
- The smart healthcare industry in the U.S. is expected to grow at a significant CAGR over the forecast period.
- By product type, the telemedicine segment held the largest share of 38.56% in 2024.
- By end-use, the hospitals segment held the largest revenue share in 2024.
Market Size & Forecast
- 2024 Market SizeUSD 188.86 Billion
- 2030 Projected Market SizeUSD 385.28 Billion
- CAGR (2025-2030)12.51%
- North AmericaLargest market in 2024
- Asia PacificFastest growing market
Innovations across product categories, such as RFID Kanban systems and smart cabinets, are enhancing hospital inventory and supply chain management, reducing errors and wastage. Electronic Health Records (EHRs), especially web-based platforms, are seeing widespread adoption due to their scalability and interoperability, facilitating seamless data sharing and clinical decision-making. Moreover, rising internet penetration significantly drives the telemedicine segment. According to a 2023 report by DemandSage, approximately 82.2% of the U.S. population owned smartphones, which serve as key platforms for accessing mHealth applications. These devices accounted for 70% of the country’s digital media consumption time, highlighting their central role in everyday digital engagement.
Advancements in telecommunications and integrated medical technologies, such as AI diagnostics, IoT-enabled wearables, and remote monitoring, are revolutionizing telemedicine. These innovations enhance real-time care, improve chronic disease management, and support proactive interventions. Cloud-based EMRs and AI-driven triage tools further streamline operations and improve patient outcomes, making telemedicine a scalable, cost-effective solution for rising healthcare demands. For instance, in May 2024, Apollo Telehealth, in partnership with the Government of Manipur, inaugurated a telemedicine-driven Primary Health Centre (PHC) in Borobeka. This initiative addresses the healthcare challenges faced by communities in conflict-affected and remote areas of Manipur.
Moreover, the demand for mHealth is rising as digital health services gain traction, particularly in remote patient monitoring. Increasing awareness among individuals about the benefits of mHealth solutions, along with supportive government initiatives promoting digital healthcare access, is expected to further accelerate market growth. Moreover, the growing use of smartphones across all age groups, especially among teenagers and adults, is playing a key role in expanding the reach of mHealth technologies. According to The Mobile Economy 2023 report, smartphone penetration stood at 76% in 2022 and is projected to rise to 92% by 2030, indicating a strong foundation for the continued adoption of mobile-based healthcare platforms.
Furthermore, supportive government programs are projected to bode well for the growth of the market for smart healthcare. For instance, the Ayushman Bharat Digital Mission in India aims to create an integrated digital health infrastructure, digitally linking practitioners and patients and promoting structured healthcare nationwide. In addition, the European Union's EU4Health program, launched in 2021, allocates USD 5.78 billion (EUR 5.1 billion) to strengthen healthcare systems and improve access to services. These programs demonstrate a global commitment to enhancing healthcare through digital transformation.
Rising participation from the market players is expected to drive the growth of the smart healthcare industry. For instance, in May 2025, MediBuddy, a digital healthcare platform in India, joined forces with Japanese electronics company ELECOM to bring cutting-edge smart health IoT devices to the Indian market. This strategic collaboration aligns with MediBuddy’s mission to provide quality healthcare access to a billion people by advancing innovation in preventive healthcare. In the initial rollout, ELECOM’s smart devices will be integrated into MediBuddy’s healthcare ecosystem, enhancing the reach and effectiveness of digital health solutions across the country.
“The partnership with MediBuddy is a crucial step towards realizing our Healthcare Division's goal of delivering medical and healthcare services. Lifestyle-related diseases have become a significant social issue in India, with experts emphasizing the importance of early prevention and management from a medical perspective. In this initiative, we plan to provide a system for seamlessly managing users’ health data, utilizing our IoT technology, including Wi-Fi-enabled and Bluetooth-equipped weight and body composition scales.”
Smart healthcare adoption increased during the pandemic situation, and this adoption rate is further projected to grow in the post-COVID-19 scenario. Consequently, many businesses are expanding their products and services; for instance, in November 2020, Vera Smart Health invested around USD 20 billion to expand its services into home-based tests and diagnostics, remote health services, medication delivery, virtual care, and nutrition consultation services. Therefore, we anticipate a substantial demand for smart healthcare products due to the COVID-19 emergency.
Key Takeaways
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RFID and AI have brought about a digital transformation in inventory management.
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The implementation of RFID and AI has led to improvements in operational efficiency, cost savings, and patient safety.
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The system seamlessly integrates with the hospital's EHR/ERP, ensuring accurate billing and traceability.
Report Coverage & Deliverables
The PDF report & online dashboard will help you understand
- Competitive benchmarking
- Historical data & forecasts
- Company revenue shares
- Regional opportunities
- Latest trends & dynamics
Market Concentration & Characteristics
The smart healthcare market demonstrates a high degree of innovation, driven by advancements in telemedicine, EHR, and mHealth applications. Telemedicine providers are enhancing virtual care capabilities to improve patient-doctor interactions remotely. For instance, in October 2024, AMD Global Telemedicine collaborated with Carefluence, a provider of interoperability solutions, to strengthen AMD’s telehealth services and ensure seamless continuity of care. This collaboration improves clinical workflows and supports better patient outcomes, which are core objectives of the market.
“By incorporating their cutting-edge interoperability expertise, we are not just expanding our product offerings but significantly enhancing the capabilities of our existing solutions. This strategic partnership aligns with our commitment to innovation and excellence in telehealth, ensuring that our clients have access to the most advanced and effective tools available.”
Mergers and acquisitions (M&A) continue to shape the smart healthcare industry dynamics, with companies adopting strategic partnerships to expand their market position. For instance, Google, Inc. bought Sound Life Science Services in October 2022. Sound Life Science Services is a small start-up from the University of Washington that created an app to monitor breathing. Google's acquisition has helped them enhance their application by integrating with the breathing app developed by Sound Life Science.
Regulations in the market significantly impact the adoption and growth of new technologies. Strict data privacy laws, such as the Health Insurance Portability and Accountability Act (HIPAA) in the U.S. and the General Data Protection Regulation (GDPR) in Europe, influence the design and deployment of healthcare technologies. For instance, compliance with HIPAA is crucial for telemedicine platforms, which must ensure patient data confidentiality. The high level of regulatory oversight encourages innovation in secure systems and creates barriers to entry for new players.
The global smart healthcare market is expanding rapidly, driven by its ability to enhance accessibility, reduce costs, and improve health outcomes. Major industry players entering emerging markets and the rise of local startups are propelling this momentum. Companies are scaling their operations by setting up new facilities in different regions and pursuing mergers or acquisitions to strengthen their presence. For instance, Telefonica Tech’s acquisition of Incremental, a company specializing in digital transformation and data analytics, enabled both firms to broaden their capabilities and expand their Microsoft technology offerings across the UK.
Product Type Insights
The telemedicine segment held the largest revenue share of 38.56% in 2024. The increasing demand for remote healthcare services, particularly after the pandemic, is responsible for this growth. Key drivers include the need for convenient, accessible healthcare, growing adoption of digital health solutions, and advancements in communication technologies. Telemedicine enables virtual consultations, monitoring, and follow-ups, improving healthcare access for patients in remote areas. For instance, in March 2025, Airtel Business and Fortis Healthcare partnered to introduce a Smart Clinics solution powered by Airtel's 5G network, enhancing telemedicine access in urban and rural regions. The Smart Clinics initiative aims to transform telemedicine by offering real-time consultations, integrating connected medical devices, and ensuring secure health data management.
The RFID Kanban Systems segment is expected to grow at the fastest CAGR during the forecast period. Real-time inventory tracking, reduced stock-outs and overstocking, and improved medication expiration management drive this growth. The increasing demand for lean inventory practices and enhanced operational efficiency continues to drive the adoption of RFID Kanban systems in healthcare settings. For instance, in August 2023, BlueBin and Avatek partnered to introduce an advanced Kanban system that integrates RFID and voice technology. This collaboration introduces enhanced automation and real-time inventory management capabilities, key benefits of RFID-enabled Kanban systems widely used in healthcare for efficient hospital inventory and supply chain management.
End-use Insights
The hospitals segment held the largest revenue share of the smart healthcare industry in 2024 due to the increasing demand for advanced technologies to improve patient care, operational efficiency, and cost reduction. The healthcare industry is experiencing a digital transformation with advancements enhancing patient care, hospital management, and security. According to an article published in March 2025, hospitals must embrace Smart Hospital technologies to remain resilient, as 79% of healthcare organizations are investing in rising cybersecurity threats.
The home care segment is expected to grow at the fastest CAGR in the market, driven by an aging population, increased chronic disease prevalence, and a preference for in-home care. Technologies such as remote patient monitoring and telehealth services enable continuous care and early intervention, which helps reduce hospital readmissions. Innovations in home care improve patient outcomes and alleviate burdens on the healthcare system, making it a central focus in modern healthcare delivery.
Regional Insights
The No The North American smart healthcare market dominated the global industry, accounting for a revenue share of over Government policies that support digital health deployment, provide accessible infrastructure, and promote high digital literacy contribute to the market's growth, projected at 36.85% in 2024. FF For instance, in November 2024, the Alliance for Smart Healthcare Excellence was formed to promote the development of smart hospitals by integrating advanced technologies and practices. As an independent nonprofit organization, the Alliance promotes the adoption and utilization of advanced innovative healthcare technologies, processes, and practices specifically within hospitals.
U.S. Smart Healthcare Market Trends
The smart healthcare industry in the U.S. is marked by rapid innovation and a strong emphasis on patient-centered care. The adoption of mobile health applications and the implementation of RFID systems for inventory management are notable trends in the smart healthcare industry. Regulatory support, including the Health Information Technology for Economic and Clinical Health (HITECH) Act, has enabled the widespread adoption of electronic health records (EHRs) and telehealth services.
Asia Pacific Smart Healthcare Market Trends
The Asian-Pacific smart healthcare industry is growing due to technological advancements and a rising demand for improved healthcare services. Expanding healthcare infrastructure and investments in health tech startups have driven the market's growth. F For instance, in December 2024, Mobile-health Network Solutions (MNDR) launched ManaSocial. T This healthcare engagement platform allows users, professionals, and organizations to connect, share insights, and support one another on health-related topics. ManaSocial enhances MNDR's telemedicine platform by integrating telehealth services, enabling users to access remote consultations and healthcare support within a connected ecosystem.
“Through the platform’s Communities of Care feature, we are expanding our reach, unlocking new revenue streams, and meeting the evolving needs of healthcare consumers. T This launch strengthens MNDR’s ability to deliver value to patients, providers, and shareholders.
- Dr. Rachel Teoh, co-founder of MNDR.
The smart healthcare market in Japan is shaped by its comprehensive, universal health insurance system, which ensures broad access to medical services through a mix of public and private providers. T The universal health insurance system emphasizes patient choice, affordability, and regulated medical fees, supporting various healthcare services such as preventive care, chronic disease management, and specialized treatments. A highly organized regional and national network integrates hospitals and clinics, emphasizing efficiency and quality of care.
Europe Smart Healthcare Market Trends
The smart The healthcare industry in Europe is expected to grow significantly, owing to technological innovations and the introduction of digital health solutions, such as EHRs and telemedicine, which are becoming widespread under the EU's Digital Health Strategy. In April 2025, a new EU project, the “i2X project,” was launched to connect the health data of 3 million citizens, advancing data interoperability across the region. T This project aligns with the EU's Digital Health Strategy, aiming to enhance healthcare delivery and facilitate clinical research by improving the seamless exchange of health information.
The smart healthcare market in the UK is growing due to the strong push toward digital transformation within the National Health Service (NHS), rising demand for remote patient monitoring, and the government's focus on preventive healthcare. I The increasing adoption of technologies such as Electronic Health Records (EHRs), telemedicine platforms, and mobile health (mHealth) apps is enhancing care delivery and patient engagement. T The aging population, along with the increasing burden of chronic diseases, is also contributing to the need for connected healthcare solutions. Additionally, favorable regulatory support, significant investments in health tech startups, and collaborations between public and private stakeholders are accelerating the innovation and deployment of smart healthcare technologies throughout the country.
Latin America Smart Healthcare Market Trends
The smart healthcare industry in Latin America is experiencing significant growth, driven by advancements in various technologies that enhance healthcare delivery and efficiency. Patients and providers utilize mobile health (mHealth) applications to monitor patient health metrics, facilitate communication, and promote wellness. In addition, the introduction of smart pills and smart syringes enhances medication adherence and precision in drug delivery. T These developments reflect how Latin America is integrating innovative technologies into its healthcare system to meet the needs of its diverse population and improve overall healthcare outcomes.
Middle East & Africa Smart Healthcare Market Trends
The smart healthcare industry in the Middle East and Africa (MEA) is set to experience rapid growth, driven by increased healthcare spending and a focus on advanced technologies. I Investment in health tech startups and innovative infrastructure is increasing, while regulatory frameworks are evolving to support telemedicine and digital records. In October 2024, The Global Health Network will launch its MENA Regional Hub to strengthen health research across the region. T This initiative addresses public health challenges specific to the region and promotes the integration of advanced technologies, including digital health tools, which contribute to the growth of the innovative healthcare ecosystem in the MEA region.
Key Smart Healthcare Company Insights
Pla The company undertook various strategic initiatives, such as mergers and acquisitions, product launches and partnerships, and collaborations, to gain more market penetration. For For instance, in September 2021, MSF introduced a free telemedicine helpline for COVID-19 patients in India.
Key Smart Healthcare Companies
The following are the leading companies in the smart healthcare marketThese companies collectively hold the largest market share and dictate trends in the industry.
- AirStrip Technologies, Inc.
- Veradigm LLC
- Apple Inc.
- AT&T Inc.
- BROOKS AUTOMATION
- Oracle (Cerner Corporation)
- Cisco
- GE Healthcare
- Medtronic
- HUrs Green Plastics Ltd.
- IBM
- Logi-Tag
- McKesson Corporation
- Olympus Corporation
- Pepperl&Fuchs Pvt. Ltd.
- SAMSUNG
- Siemens Healthcare Private Limited
- Solstice Medical LLC
- InnerSpace (Acquired by Solaire Medical)
- Böllhoff Group
- Adolf Würth GmbH & Co. KG
Recent Developments
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In October 2024, AMD Global Telemedicine partnered with Carefluence, an innovator in interoperability solutions, to enhance AMD’s robust telehealth solutions, provide continuity of care, and enhance clinical outcomes.
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IIn April 2024, MedStar Health, the hospital system located in Columbia, Maryland, announced its collaboration with DispatchHealth, an in-home care service. TThis partnership aimed to deliver acute care services to individuals who were recently discharged from MedStar facilities in Washington, D.C.
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In March 2024, RamSoft, a provider of cloud-based PACS/RIS radiology solutions, entered into a 5-year agreement with Premier Radiology Services to utilize RamSoft’s OmegaAI and PowerServer PACS platform across its network of more than 1,000 teleradiology locations.
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In OcIn October 2023, Cedars-Sinai recently launched a mobile health application called the Cedars-Sinai Connect app, which utilizes artificial intelligence technology to provide virtual care solutions for various clinical matters. TThe Cedars-Sinai Connect app enables patients to schedule primary care visits on the same day and offers 24/7 virtual access to medical specialists for urgent treatment.
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In January 2023, Avery Dennison announced the launch of a new manufacturing unit in Mexico, which aims to expand the company’s production capacity in the country.
Smart Healthcare Market Report Scope
|
Report Attribute |
Details |
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Market size value in 2025 |
USD 213.67 billion |
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Revenue forecast in 2030 |
USD 385.28 billion |
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Growth rate |
CAGR of 12.51% from 2025 to 2030 |
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Actual data |
2018-2024 |
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Forecast period |
2025-2030 |
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Quantitative units |
Revenue in USD million/billion, and CAGR from 2025 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product type, end-use, region |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
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Country scope |
U.S.; Canada; Mexico; UK; Germany; Spain; France; Italy; Sweden; Denmark; Norway; Asia Pacific; Japan; China; India; Australia; South Korea; Thailand; Latin America; Brazil; Argentina; Middle East & Africa; South Africa; Saudi Arabia; UAE; Kuwait |
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Key companies profiled |
AirStrip Technologies Inc.; Veradigm LLC; Apple Inc.; AT&T Inc.; BROOKS AUTOMATION; Oracle (Cerner Corporation); Cisco; GE Healthcare; Medtronic; Hurst Green Plastics Ltd.; IBM; Logi-Tag; McKesson Corporation; Olympus Corporation; Pepperl&Fuchs Pvt. Ltd.; SAMSUNG; Siemens Healthcare Private Limited; Solstice Medical LLC; InnerSpace (Acquired by Solaire Medical); Böllhoff Group; Adolf Würth GmbH & Co. KG |
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Customization scope |
The purchase includes free report customization, which can take up to 8 analysts' working days. Changes or additions to The scope can include various countries, regions, and segments. |
|
Pricing and purchase options |
Avail yourself of customized purchase options to meet your exact research needs. Explore purchase options |
Global Smart Healthcare Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the subsegments from 2018 to 2030. FIn this study, MIR has segmented the global smart healthcare market report according to product type, end-use, and region.
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Product Type Outlook (Revenue, USD Million, 2018-2030)
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RFID Kanban Systems
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RFID Smart Cabinets
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Electronic Health Records (EHR)
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Web-based EHR
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Client-server Based EHR
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Telemedicine
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Hardware
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Software
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Others
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mHealth
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Monitoring Services
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Diagnostic Services
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Healthcare Systems Strengthening
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Others
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Smart Pills
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Smart Syringes
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End-use Outlook (Revenue, USD Million, 2018-2030)
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Hospitals
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Home Care Settings
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Others
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Regional Outlook (Revenue, USD Million, 2018-2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Sweden
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Denmark
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Norway
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Asia Pacific
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Japan
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China
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India
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Australia
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South Korea
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Thailand
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Latin America
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Brazil
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Argentina
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Middle East and Africa
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Saudi Arabia
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South Africa
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UAE
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Kuwait
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