Saudi FM arrives in Kuwait to attend ministerial meeting preparatory for GCC summit    Saudi Arabia hosts over 13 million foreign residents from 60 countries, says human rights official    RCRC Chief: Riyadh Metro, featuring environmental sustainability, will improve quality of life and revolutionize transportation    Al Taawoun seals AFC Champions League Two knockout spot with 2-1 win over Al Khaldiya    Al-Jasser: Riyadh Metro to accommodate one million passengers daily    Al-Jasser: 122,000 jobs generated in transport sector in a year    Israelis survey damage and mull return to north as ceasefire begins    Israel to appeal against ICC warrants for Netanyahu and Gallant    Trump nominates Keith Kellogg as special envoy for Ukraine and Russia    Missing hiker found alive after more than five weeks in wilderness    Elon Musk publicizes names of government employees he wants to cut    Saudi Arabia participates in OIC anti-corruption agencies' meeting in Qatar    Al Rajhi: Saudi Arabia sets revised unemployment target of 5% by 2030 "300,000 citizens employed in qualitative professions"    Al Hilal advances to AFC Champions League knockout stage despite 1-1 draw with Al Sadd    Best-selling novelist Barbara Taylor Bradford dies    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi spending on healthcare to hit $24b in '12
Published in The Saudi Gazette on 20 - 10 - 2012

JEDDAH – Saudi spending on healthcare is projected to reach to SR91.20 billion ($24.35 billion) in 2012 or an increase of 16 percent from SR78.63 billion ($21 billion) in 2011, BMI said in its “Saudi Arabia Pharmaceuticals and Healthcare Report Q4 2012”.
Spending on pharmaceuticals would increase 13.5 percent to SR18.95 billion ($5.06 billion) in 2012 from SR16.70 billion ($4.46 billion) in 2011, the report further said.
Expenditure on medical devices is forecast to jump 17.8 percent to SR6.53 billion ($1.74 billion) in 2012 from SR5.54 billion ($1.48 billion) in 2011, the report added.
Saudi Arabia's transition to an increasingly privatized and comprehensive healthcare system will drive the demand for both patented and generic drugs, the study noted.
The Kingdom is investing heavily in healthcare infrastructure and we expect this will be borne out in double-digit growth forecasts across our three headline indicators.
Saudi Arabia's composite score remained steady in Q412 at 55.6. This places the Kingdom to fifth place out of the 30 markets in the region. Its score is propped up by the country's wealth and a sizeable population (exceeding 28 million in 2011). Furthermore, its forecast growth rate is high due to favorable 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.
The report also noted the government's crackdown on smoking with the announcement in July 2012 of a ban on smoking in public places. The official decree bans smoking, including shisha pipes, from all government facilities and the majority of commercial areas, including restaurants, supermarkets and shopping malls. The decree also prohibits the sale of tobacco to citizens under 18.
Moreover, the report forecast ongoing strong growth and asset accumulation via real expansion in investment and exports, amid relatively high oil prices. Inflation in Saudi Arabia is unlikely to pick up substantially in the near term, it added. The optimistic future outlook of the Saudi Arabian healthcare industry also relies on innovation and the latest technology.
RNCOS sad in a separate report that the leading IT companies are heading toward the Kingdom to test new devices and procedures designed to streamline hospital procedures and improve patient care.
In addition, new insurance laws set up by the Government mandates drug coverage and these are fuelling the spending. With the prevalence of new diseases and increasing population, the demand for healthcare services will augment and to cater to it, the government is planning to open new hospitals in the Kingdom. – SG


Clic here to read the story from its source.