Saudi Arabia - Healthcare (Pharmaceuticals and Medical Devices), Regulatory and Reimbursement Landscape

Saudi Arabia - Healthcare (Pharmaceuticals and Medical Devices), Regulatory and Reimbursement Landscape

Summary

GlobalData, the industry analysis specialist, has released its latest report “Saudi Arabia - Healthcare (Pharmaceuticals and Medical Devices), Regulatory and Reimbursement Landscape”. The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Saudi Arabia. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.

Saudi Arabia’s pharmaceutical market has high potential and is one of the fastest developing pharmaceutical markets in Asia. The rise in communicable and non-communicable diseases, and government initiatives such as National Drug Policy intended to drive the growth of the Saudi Arabia’s pharmaceutical market. While inadequate power and water supply, dysfunctional transport system, and under-utilized manufacturing capacity, along with counterfeiting drugs are hindering the development of the healthcare market. Saudi Arabia’s pharmaceutical market, based on pharmaceutical production value, $6.6 billion in 2013 is expected to increase to $10.2 billion in 2020 at a Compound Annual Growth Rate (CAGR) of 6.4%. It is forecast to reach about $14.8 billion in 2026. The medical devices market of Saudi Arabia was valued at $3.6 billion in 2016, which is expected to increase to $4.8 billion in 2020 at a CAGR of 6.0%. The medical device market is expected to grow at a CAGR of 4% from $5 billion in 2021 to $6.1 billion in 2027.

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Saudi Arabia, and includes -

• An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
• Profiles and SWOT analyses of the major players in the pharmaceutical market: Novartis, GlaxoSmithKline, Pfizer, Tabuk, and SPIMACO.
• Profiles and SWOT analyses 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 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.

• Develop business strategies by understanding the trends shaping and driving 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 your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership