Saudi Healthcare Sector
Saudi Arabia is among the most attractive country for health care in the world. Health care has witnessed fast development in terms of technology, primary, secondary and tertiary facilities in the past 5-10 years. Saudi Arabian health care market is going through a rapid growth and will continue to expand exponentially in the next 5-10 years.
Lifestyle diseases, such as obesity, diabetes and hypertension, in the country are amongst the highest in the world. With young population these and infant care and maternity are expected to significantly boost the country’s health care spending in future. Additionally chronic diseases and ageing population living longer will add to the growth and investment impetus in this sector. Although UAE per capita expenditure (see GDP % expenditure for UAE vs Saudi) is much higher than Saudi but Saudi health care sector holds a greater potential for broader and deeper growth compared to other countries in the Middle East.
Recent reports published by, Frost and Sullivan, Medistat and RNCOS Aug 2009 and Saudi MOH point out that the health care sector in Saudi Arabia is expected to enjoy a double-digit growth in future. The medical device market in Saudi Arabia is fore casted to grow at a CAGR about 7%. The market is characterized by huge private, Ministry of Health, Ministry of defense, King Abdullah National Guard, University Hospitals growth and this trend is likely to continue in near future also.
The health care market is expected to grow more strongly as the government is spending heavily because of increasing prevalence of chronic diseases and ageing population.
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