New healthcare needs spark private sector involvement

Free services are extended not only to citizens, but also to hajjis, Umrah performers and visitors. Nevertheless, there exists a solid private sector that has experienced a recent boom, thanks to the government’s promotion of privatisation and a new medical insurance law.   

Jeddah has caught the eye of investors in view of the fact that the high population density and the huge annual inflows of tourists are taxing government facilities. Even though more than one-third of state-owned hospitals and over 40 per cent of hospital beds are located in the Makkah Mukarramah region, of the total health facilities here, between 73 and 93 per cent are privately owned.

Changing times have brought to Saudi Arabia a population surge – and with this, a changing demographic profile – as well as new health issues stemming from a more sedentary lifestyle, including diabetes, obesity, and cardio-vascular and respiratory diseases. Whilst new medical colleges have been established to broaden the scope of medical knowledge and capabilities in the region, the government is also partnering with international firms to develop new technology.

As the largest pharmaceutical and healthcare products and services market in the Gulf region (with strengthened intellectual property laws to boot), KSA offers excellent breeding grounds for medical innovation and possibilities for domestic manufacturing.

Interested parties can seek opportunities at some of Jeddah’s upcoming fairs and conventions, such as the third annual Kingdom Healthcare Expansion and Investment Summit next December, and the Saudi Healthcare trade show at the Exhibition and Convention Centre on May 15-17.