Saudi Arabia – Healthcare, Regulatory and Reimbursement Landscape
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The Saudi Arabia pharmaceutical market was valued at $10.2 billion in 2020. The market will grow at a CAGR of more than 6% from 2020 to 2026. The Saudi Arabia medical devices market was valued at $4.8 billion in 2021 and is expected to grow at a CAGR of more than 4% from 2021 to 2027. Saudi Arabia is one of the most attractive economies in the Middle East and North Africa (MENA) in terms of healthcare and regulatory reforms, skilled workforce, and government support for public-private partnerships.
Overview of the Saudi Arabia pharmaceuticals market
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Overview of the Saudi Arabia medical devices market
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What are the market dynamics in the Saudi Arabia pharmaceuticals market?
In 2020, as per the United Nations E‑Government Survey, Saudi Arabia was ranked 43rd in the E-Government Development Index, and 66th in E-Participation Index. In 2021, the country was ranked 66th in the World Intellectual Property Organization’s Global Innovation Index and 61 in the GHS Index Country Profile. The population of Saudi Arabia is projected to increase from 34.81 until 2060. The increasing population is expected to fuel the demand for healthcare services in the KSA. Saudi Arabia is the largest spender on healthcare across the MENA region. The increase in Saudi Arabian pharmaceutical market size is attributed to the growing population, increased per capita healthcare spending, and preference for research-based pharmaceutical products.
What are the major segments in the Saudi Arabia pharmaceuticals market?
The pharmaceuticals market in Saudi Arabia can be segmented into generics, biologics, biosimilars, and over the counter (OTC). Saudi Arabia has many opportunities in biologics with a primary focus on insulin analogs, autoimmune disease therapies, pandemic response, and oncology. Biosimilars are also accessible and affordable in Saudi Arabia.
Saudi Arabia pharmaceuticals market, by segment
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Who are the major players in the Saudi Arabia pharmaceuticals market?
The key players in the pharmaceuticals market in Saudi Arabia are Novartis, GlaxoSmithKline (GSK), Pfizer, Saudi Pharmaceutical Industries and Medical Appliance Corp (SPIMACO), and Tabuk Pharmaceuticals.
Novartis
It is a global healthcare company based in Basel, Switzerland. It operates through a network of subsidiaries and offices in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. In Saudi Arabia, it operates out of Dammam and Riyadh. Novartis mainly deals with consumer healthcare, pharmaceuticals, and medical devices.
GSK
It is a healthcare company that focuses on the development, manufacture, and commercialization of pharmaceuticals, vaccines, and consumer healthcare products. It offers drugs for the treatment of respiratory diseases, cancer, cardiovascular diseases, HIV, infectious diseases, immuno-inflammation, and rare diseases. In Saudi Arabia, it operates out of Jeddah.
Pfizer
It is a research-based global biopharmaceutical company that discovers, develops, manufactures, and commercializes drugs for various conditions, consumer healthcare products, generics, and APIs. Pfizer’s Saudi Arabia offices are in King Abdullah Economic City.
Saudi Arabia pharmaceuticals market, by key players
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What are the market dynamics in the Saudi Arabia medical devices market?
The Saudi Arabia medical devices market has well-regulated consistent demand from focused buyers (National Unified Procurement Company and Gulf Health Council). As of January 2022, there are more than 45 local medical devices manufacturers with a significant contribution of 6% market share. By 2025, the goal is to increase the local manufacturer’s market share percentage by expanding the current product portfolio and attracting new medical devices technologies to provide comprehensive solutions needed by healthcare providers. This will ultimately reflect on the diversity of products and the number of factories established during this period.
What are the key segments in the Saudi Arabia medical devices market?
The medical devices market in Saudi Arabia can be segmented into hospital supplies, general surgery, anesthesia and respiratory devices, orthopedic devices, and cardiovascular devices. Hospital supplies accounts for more than 60% of the revenue in the market and is expected to expand at a CAGR of more than 3% from 2021 to 2025.
Saudi Arabia medical devices market, by segment
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Who are the major players in the Saudi Arabia medical devices market?
The major players in the medical devices market in Saudi Arabia are Fujitsu, Medtronic, AstraZeneca, Kimberly-Clark and GE Healthcare.
Fujitsu
They provide information and communications technology (ICT) solutions. The company serves a wide range of customers across automotive, financial, retail, telecommunications, life-science, and healthcare markets. Fujitsu is headquartered in Tokyo, Japan, and its Saudi Arabia operations center is in Jeddah.
Medtronic
It is a medical technology company which provides a wide range of medical devices for the treatment of heart disease, spinal conditions, neurological disorders, vascular disease, orthopedic disorders, and diabetes. Medtronic is headquartered in Dublin, Ireland. Medtronic’s footprint is in the Central and Eastern Europe, Middle East and Africa (CEMA) region. In Saudi Arabia, Medtronic is in Riyadh.
AstraZeneca
It is a biopharmaceutical company. Its product portfolio includes biologics, prescription pharmaceuticals, and vaccines. The company operates in Europe, the Americas, Asia, Africa, and Australasia. AstraZeneca is headquartered in Cambridge, Cambridgeshire, the UK. The company operates in Riyadh, Saudi Arabia.
Saudi Arabia medical devices market, by key players
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Saudi Arabia pharmaceuticals market report scope
Market size (2020) | $10.2 billion |
Growth rate | CAGR of >6% from 2020 to 2026 |
Base year for estimation | 2020 |
Key segments | Generics, Biologics, Biosimilars, and Over the Counter (OTC) |
Key players | Novartis, GlaxoSmithKline (GSK), Pfizer, Saudi Pharmaceutical Industries and Medical Appliance Corp (SPIMACO), and Tabuk Pharmaceuticals |
Saudi Arabia medical devices market report scope
Market size (2021) | $4.8 billion |
Growth rate | CAGR of >4% from 2021 to 2027 |
Base year for estimation | 2021 |
Key segments | Hospital Supplies, General Surgery, Anesthesia and Respiratory Devices, Orthopedic Devices, and Cardiovascular Devices |
Key players | Fujitsu, Medtronic, AstraZeneca, Kimberly-Clark, and GE Healthcare |
This report provides:
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
- Profiles and SWOT analysis of the major players in the pharmaceutical market: Novartis, GlaxoSmithKline, Pfizer, Tabuk, and SPIMACO.
- Profiles and SWOT analysis of the major players in the medical device market: Fujitsu, Medtronic, AstraZeneca, Kimberly Clark, and GE Healthcare.
- An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in the healthcare market, HealthTech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices.
- Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure, and healthcare expenditure.
- An overview of the opportunities for and challenges to growth in the Saudi Arabian healthcare market.
Reasons to Buy
- Develop business strategies by understanding the trends shaping and driving the Saudi Arabian healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to impact Saudi Arabian healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
- Organize sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership
Table of Contents
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Frequently asked questions
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What was the market size for the Saudi Arabia pharmaceuticals market in 2020?
The market size of the pharmaceuticals market in Saudi Arabia was valued at $10.2 billion in 2020.
-
What is the growth rate of the Saudi Arabia pharmaceuticals market?
The Saudi Arabian pharmaceuticals market will grow at a CAGR of more than 6% from 2020 to 2026.
-
What are the key segments in the Saudi Arabia pharmaceuticals market?
The key segments in the pharmaceuticals market in Saudi Arabia are generics, biologics, biosimilars, and over the counter (OTC).
-
Who are the key players in the Saudi Arabia pharmaceuticals market?
The key players in the pharmaceuticals market in Saudi Arabia are Novartis, GlaxoSmithKline (GSK), Pfizer, Saudi Pharmaceutical Industries and Medical Appliance Corp (SPIMACO), and Tabuk Pharmaceuticals.
-
What was the market size for the Saudi Arabia medical devices market in 2020?
The market size of the medical devices market in Saudi Arabia was valued at $4.8 billion in 2021.
-
What is the growth rate of the Saudi Arabia medical devices market?
The Saudi Arabian medical devices market is expected to grow at a CAGR of more than 4% from 2021 to 2027
-
What are the key segments in the Saudi Arabia medical devices market?
The medical devices market in Saudi Arabia can be segmented into hospital supplies, general surgery, anesthesia and respiratory devices, orthopedic devices, and cardiovascular devices.
-
Who are the key players in the Saudi Arabia medical devices market?
The key players in the medical devices market in Saudi Arabia are Fujitsu, Medtronic, AstraZeneca, Kimberly-Clark and GE Healthcare.
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