Market Report, "Saudi Arabia Pharmaceuticals & Healthcare Report Q1 2015", published

From: Fast Market Research, Inc.
Published: Thu Dec 25 2014

We expect heavy investment into Saudi Arabia's healthcare sector to continue, particularly as the government sees the sector as key to the diversifica tion of the economy. The medical tourism industry in particular provides opportunities for both pharmaceutical and medical device companies. We expect multinational companies will continue to dominate the local market despite stringent regulatory laws.

Headline Expenditure Projections

* Pharmaceuticals: SAR24.65bn (USD6.58bn) in 2013 to SAR28.15bn (USD7.52bn) in 2014; +14.2% in both local currency and US dollar terms. Forecast upgraded from Q414 due to the availability of new pharmaceutical trade data.
* Healthcare: SAR94.20bn (USD25.15bn) in 2013 to SAR101.99bn (USD27.24bn) in 2014; +8.3% in both local currency and US dollar terms. Forecast unchanged from Q414.

Risk/Reward Index

In our Q115 RRI, Saudi Arabia maintains its leading position of the 31 Middle East and Africa (MEA) markets in the region. Its high composite score is due to its wealth and sizeable population, which will support the longer-term development of its pharmaceutical market. Furthermore, its forecast growth rate is high due to favourable public and private healthcare investments. The government is also in the process of creating more public-private health partnerships and encouraging private health insurance uptake, which should provide momentum for drug sales. However, Saudi Arabia's commitment to intellectual property (IP) protection remains a major issue for foreign research-based pharmaceutical players.

Full Report Details at

Key Trends And Developments

* In November 2014, Health Minister Adel Fakeih announced that the ministry will set up 100 new hospitals with a bed capacity of 33,000 and 176 new kidney centres across Saudi Arabia over the coming five years. More than 1,500 doctors and healthcare technicians have been sent abroad by the ministry to receive training on the successful operation of these new hospitals, according to Saudi...

The Saudi Arabia Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Saudi Arabia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Saudi pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Saudi Arabia to test other views - a key input for successful budgeting and strategic business planning in the Saudi pharmaceutical and healthcare market.

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