Market

The government (Ministry of Health) plays a central role in providing healthcare services in the kingdom, accounting for around 75% of the total healthcare spending in the country. However, government expenditure on healthcare is increasing faster than its total income. This, coupled with increasing pressure on the public healthcare system and a wish to improve capacity and quality, means the government is rapidly promoting the involvement of private healthcare in the country.

Goals of the Ministry of Health include;

• Creating a stronger institutional set-up and effective regulatory framework to promote private sector investment in healthcare industry

• Developing a suitable business environment present Saudi Arabia as a more attractive destination for private healthcare providers

• Attracting investors and other partners to the largest market for healthcare in the Middle East region

        

Facts and figures

• The 2010 national budget set aside SR61.2 billion ($16.3 billion) for health and social affairs, representing a 51 percent increase over the 2009 budget

• The pharmaceutical industry is currently booming , with annual sales estimated to be in the region of SR5 billion ($1.3 billion)

• Demand for hospital beds is projected to rise by 31% to 70,000 beds by 2015, to be predominantly developed by the private sector.

• Compulsory insurance for expats in 2006 caused an increase in health insurance gross written  premiums of 57 percent to SR4.8 billion ($1.2 billion)

• The medical equipment and supplies market was valued at SR1.9 billion in 2006. This is projected to grow at an annual rate of 4.6% to reach SR3.0 billion by 2015

• In 2000, there were about 100 hospitals, 600 dispensaries, 800 clinics, 50 medical laboratories, 15 physiotherapy centres, 300 pharmaceutical stores and 3,200 pharmacies in the region. These figures have almost doubled in the last decade

• Saudi Arabia is expected to spend US$20 billion annually on the health and medical sector by 2016

Take advantage of this phenomenal growth sector and become a part of Saudi Hospital and Healthcare today! Contact Marco Colombara for details.
Tel - 0044 203 463 1023
Email - marco@bme-global.com