Saudi healthcare system has huge investment opportunities

Biomedical Middle East has always been talking about the huge oppartunities in Saudi Healthcare sector. The Saudi Medicare 2010 conference and exhibtion also has same remarkes. The Saudi Medicare 2010 Exhibtion will be held from 12th to 15th April this month. There will be distributor manufecturers and other healthcare peers attending and exhibiting at the show.

Over the coming decade, a variety of opportunities are likely to open up in virtually every aspect of the Saudi healthcare sector:

MEDICAL DEVICES AND SUPPLIES:

Rapidly growing market and more effective regulations will make it more attractive to medical devices manufacturers to capture a market share of the Saudi medical supplies and devices imports. The Kingdom of Saudi Arabia will in all possibility stay on track with its aspiration to provide a standard of healthcare that rivals the best in the world. Saudi Arabia has always been a passionate consumer of the latest technology and its hospitals are no exception. As private health provision in health care rises, a strong demand for high-end medical equipment will accompany.

GENERIC PHARMACEUTICALS:

The growth in population as well as the drug coverage mandated under the new insurance law will increase demand on various pharmaceutical products such as analgesics and vitamins, as well as more complex products such as prescription antibiotics and beta-blockers.

INSURANCE:

All employers are required to provide health insurance. This policy covers all workers employed in the economy.

E-HEALTH:

The growth in the numbers of players in the health care sector as well as the increasing sophistication of care available is likely to generate complexity. To cope with this development, the MOH wishes to encourage the establishment of a national electronic records system for healthcare. Accordingly, health systems integrators and potentially telemedicine specialists are likely to be in high demand.

EDUCATION:

The most basic medical shortage that Saudi Arabia now faces is a shortage of doctors and nursing staff. To satisfy current needs, more medical schools and residency programs must be developed. Accordingly the government supports the development of more medical education facilities, and some of these will be available for private sector investment. Saudi Arabia will actively seek to create partnerships with leading educational institutions to build the country’s medical education capacities.