Saudi Arabia Healthcare & General Services Market - 2023-2030

Saudi Arabia Healthcare & General Services Market - 2023-2030

Saudi Arabia's Healthcare & General Services Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing with a CAGR of XX % during the forecast period 2023-2030.

Saudi Arabia has made significant progress in its healthcare system through increased healthcare spending, improved healthcare infrastructure, and better quality of care. The government has introduced initiatives such as universal health coverage, accreditation programs, and healthcare technology adoption. As a result, there has been an increase in access to healthcare services and improvements in healthcare indicators.

Market Dynamics: Drivers and Restraints

Rise in healthcare spending

The market growth is expected to be driven by the rise in healthcare spending, for instance, the Saudi Arabian government has increased its healthcare spending significantly over the past few years. In 2020, the government allocated SAR 147 billion ($39.2 billion) for the healthcare sector, which was an increase from the previous year's budget allocation.

Also, the government has invested heavily in healthcare infrastructure, increasing the number of hospitals and primary healthcare centres. The government has invested in the development of healthcare facilities across the country. As of 2021, there were over 460 hospitals and 2,000 primary healthcare centres across the country.

Furthermore, the saudi arabia healthcare and general services market is also driven by various other factors like improved quality of care, advancements in the services, rise in better access to healthcare and others that help the market to grow during the forecast period.

Market Dynamics: Restraint

Saudi Arabia healthcare and general services market is hampered by various factors in that data security and privacy issues are a major concern. Data security is crucial, especially when dealing with sensitive information. Saudi Arabia ranked second globally, takes cybersecurity seriously, introducing numerous programs, training, and education resources to protect against unauthorized access or breaches.

However, in 2021, a data leak website by Xing Team breached 201 GB of healthcare information, including patient names, numbers, credit cards, diagnoses, tests, medical records, and notes on patient conditions, posing a major challenge for the market.

Segment Analysis

The Saudi Arabia healthcare & general services market is segmented based on type, expenditure, service type, service areas and end user.

The digital health services from the type segment accounted for approximately 39.7% of the Saudi Arabia healthcare & general services market share

The digital health services from the type segment accounted for approximately 39.7% and is expected to dominate during the forecast period. Saudi Arabia is focusing on digital healthcare to enhance efficiency and improve outcomes, potentially unlocking $27 billion by 2030. The country's Vision 2030 healthcare transformation in 2016 aimed to improve care quality and patient experience. Initially, efforts focused on digitizing electronic health records and clinical workflow management systems. Since the COVID-19 pandemic, Saudi Arabia has expanded its digital offerings to include consumer-centric solutions like virtual care.

For instance, in May 2020, The Saudi Health Council's National Center for Health Research and Studies launched specialized electronic platforms to provide interactive services on coronavirus. The platforms include an interactive map to monitor global coronavirus infections and a virtual smart assistant called ""Basherbot"" to answer queries in various languages. The move is part of state agencies' efforts to limit the spread of the virus and preserve the health of citizens and residents in the Kingdom.

COVID-19 Impact Analysis

The COVID-19 pandemic, which began in Wuhan, China in December 2019, has caused a global outbreak that has affected over 72 million individuals and over 1.61 million deaths. However, healthcare services experienced shocks during the peak of infections, with increased demands for pharmaceuticals, PPEs, N95 respirators, hand sanitisers, and gloves. The need for medicines such as Tocilizumab, hydroxychloroquine, and lopinavir/ritonavir also got increased. Additionally, the need for primary care services, emergency medical services, digital health services, diagnostic services and mental health services was also increased. Hence, COVID-19 impacted the Saudi Arabia healthcare and general services market positively.

Market Segmentation

By Type
• Primary Care Services
• Emergency Medical Services
• Digital Health Services
• Diagnostic Services
• Mental Health Services
• Home Healthcare Services
• Others

By Expenditure
• Public
• Private

By Service Type
• Outpatient Services
• Inpatient Services

By Service Areas
• Cardiovascular
• Acute Care
• Cancer Care
• Diagnostics, and Imaging
• Neurorehabilitation & Psychiatry Services
• Gynecology
• Others

By End User
• Healthcare Providers
• Health Insurance Payers
• Pharmaceutical Companies
• Others

Competitive Landscape

The major players in the market include HCL Technologies Limited, GE Healthcare, Koninklijke Philips N.V., Abbott, Bupa, KFSHRC, Optum, Kaiser Foundation Health Plan, Inc., Aster DM Healthcare, Labcorp and among others.

Key Developments

 In October 2023, Saudi Arabia's Minister of Health, Fahad Al-Jalajel, launched the National Platform for Health and Insurance Exchange Services at the Global Health Exhibition in Riyadh. The platform aims to provide health information to beneficiaries and share their data with healthcare service providers. The launch was attended by Saudi Ministers of Investment, Industry and Mineral Resources, and the governor of the Saudi Digital Government Authority.

Why Purchase the Report?
• To visualize the Saudi Arabia healthcare & general services market segmentation based on type, expenditure, service type, service areas and end user as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Saudi Arabia healthcare & general services market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Saudi Arabia healthcare & general services market report would provide approximately 69 tables, 70 figures and 183 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies