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Saudi Arabian healthcare sector caters to a rapidly growing population, the concurrent increase in health issues and growing awareness is boosting the sector to flourish. Saudi Arabia is continuously investing in healthcare related projects in Kingdoms like Riyadh, Makkah, Jeddah, etc. for developing advance healthcare system in these regions. Moreover, the government is blending in the regulatory framework to attract more private investment in this sector. As per our latest research report “KSA Healthcare Market Outlook 2024”, the healthcare sector in the Kingdom is anticipated to expand at a CAGR of around 7% during the 2019-2024.

 

The increasing population and diversification of the nation's economy are among the key factors driving the Saudi Arabia health insurance market. Expatriates from all around the globe are migrating to the country, catalyzing the growth of the healthcare and health insurance sector. The consequential rise in the aging population is directly proportionate to the rising in number of geriatric population being hospitalized due to chronic diseases which thereby increase the demand for hospital supplies. The emerging trends, such as emergence of mobile health solutions and compulsory healthcare insurance policies, would help the Saudi Arabian healthcare market to grow in coming years. 

 

This report provides healthcare market forecast till 2024 for Saudi Arabia. According to our research, the healthcare market of Saudi Arabia is growing at a rapid pace. Impact of COVID-19 on Saudi Arabia healthcare is dynamic. To fill the demand-supply gap in the healthcare infrastructure and services private sector is playing a major role. The increasing number of private hospitals will bridge the gap of quality and accessibility of healthcare services in public hospitals which is a major concern in healthcare delivery. It provides an in-depth analysis of the contributions by MOH, private and other public sectors to the country’s healthcare industry. A regional analysis of the country’s healthcare industry exhibits potential opportunity for investment.

 

The report gives brief insights about the regulatory environment in Saudi Arabia for registration of pharmaceutical products and medical devices. In the healthcare sector KSA’s top priorities are to enhance the role of the private sector through privatization of government healthcare services, to increase public-private participation (PPP) healthcare delivery models, to scale up medical education and training of its local workforce and to boost the adoption of digital information systems, thereby creating a plethora of opportunities for investors, pharmaceutical and MedTech manufacturers, healthcare IT vendors, and support services. The report will help the client to understand the market along with the structure and growth in coming years