In the Kingdom of Saudi Arabia, the Government and health regulatory authorities have been taking keen interest in developing and enhancing infrastructure for healthcare services in the country for increased accessibility. The growth of the Saudi healthcare industry will be driven in near future by factors like rising prevalence of lifestyle and infectious diseases, and lack of internationally accredited healthcare infrastructure, among others.
According to our new research report, "Saudi Arabian Healthcare Market Forecast to 2012", the pharma industry is expected to be one of the highly prolific healthcare sectors owing to the prevalence of grim issues faced by the Arabians due to lifestyle diseases like obesity, diabetes, and cardiovascular ailment. Consequently, the healthcare sector in the Kingdom of Saudi Arabia is likely to grow at a CAGR of around 6.6% during 2011-2013.
As per our findings, the tier-I cities like Jeddah and Riyadh dominate the private healthcare market in the Kingdom. In spite of having around 50% of private hospitals, these cities are still the most preferred locations for the investment. The low salary scale of doctors is among the factors which lure the private players to invest into these sites. The analysis of other crucial factors like medical test rates in private hospitals, consultancy fees, bed capacity, numbers of physicians, provides a deep knowledge about the industry to the potential investors.
The optimistic future outlook of the Saudi Arabian healthcare industry also relies on innovation and the latest technology. We observed that the leading IT companies are heading towards the Kingdom to test new devices and procedures designed to streamline hospital procedures and improve patient care. In addition, new insurance laws set up by the Government mandates drug coverage and these are fuelling the spending. With the prevalence of new diseases and increasing population, the demand for healthcare services will augment and to cater to it, the government is planning to open new hospitals in the country.
The study presents comprehension inclusive research, objective analysis, and information about important issues of the Saudi Arabian healthcare market. The team of analysts studied the healthcare industry by dividing it into various segments, including hospital services, medical devices, and pharmaceuticals. The statistical and analytical information on each of these segments cover market size, demand, and segmentation. The Saudi Arabian Government has been moving fast to achieve its aims in the healthcare sector, and our report serves as a useful guide for the companies, consultants, and investors who are planning to enter the Kingdom's healthcare market.