Giant of the Middle East, the Kingdom of Saudi Arabia boasts the largest surface area in the region, with 2 million sq km. Population as of April 2010 Census was 27,136,977: 18,707,576 Saudi nationals and 8,429,401 non-nationals. Currently about 40% of Saudi Arabias population is under the age of 15.
Saudi Arabia is one of the richest and fastest growing countries in the Middle East. It is the world’s largest producer and exporter of oil, which constitutes the major portion of the country’s revenues. The Kingdom of Saudi Arabia has the largest healthcare market in the GCC, boasting the region’s most technologically advanced infrastructure, state- of-the-art facilities and medical equipment. Saudi Arabia, which comprises over two-thirds of GCC‘s population, is the largest spender on healthcare. In Saudi Arabia, it is the responsibility of the Ministry of the Health to keep an eye on healthcare system and hospitals in both public and private sectors.
Over the coming years, Saudi Arabia is likely to experience a sharp increase in its healthcare needs. Most observers believe that population growth, a slowly aging society, and the conditions that affluence often exacerbates, such as obesity, diabetes, and cardiovascular diseases, as well as cancer, will create a tremendous new demand for healthcare services. With an annual population growth rate of 2.4 per cent— higher than the global average growth rate of 1.17 percent—Saudi Arabia is under pressure to bolster its healthcare services. Various factors such as high birth rates, increasing rates of non-communicable diseases including diabetes, cancer, cardiovascular diseases and other obesity-related illnesses will add pressure on healthcare
Largest market in GCC accounting for 58.5% of the total in 2015. Government Support in expanding healthcare facilities Three demographic factors that will dramatically increase health-care demand in the region: population growth, aging, and unique health-risk factors. Technological advancements such as the advent of the Internet and telecommunications are fueling innovation in the healthcare delivery model. Medical tourism acceptance for quality care E-Filing of health records made compulsory by government.
Highly Competitive Market More number of public hospital chains Rapidly changing technology concepts Arabic Support is a must Large number of insurers
Need around 41000 new hospital beds to cover the future demand Healthcare technology demand Increasing treatment demand Increasing healthcare delivery cost
As per the researches done on the SaudiHealthcare market it can be concluded thatthe Kingdom of Saudi Arabia is a growinghealthcare market with a lot of potentialwhich can be exploited.