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CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Saudi Arabia
GlobalData, the industry analysis specialist, has released its latest report, “CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Saudi Arabia”. The report is an essential source of information and analysis on the healthcare, regulatory and reimbursement landscape in Saudi Arabia. It identifies the key trends in the healthcare market and provides insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure of Saudi Arabia. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical and medical device markets. It is built using data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.
In 2015, Saudi Arabia’s population was approximately at 31.5 million. The government of Saudi Arabia has been making continuous efforts to strengthen the economy to ensure long-term growth, and the pharmaceutical market is seen as a key industry for the country’s future growth. To support this industry, the government has improved regulatory guidelines and initiatives to develop the domestic pharmaceutical market. The Saudi pharmaceutical market is one of the largest in the Middle East and the largest of the Gulf Co-operation Council (GCC) members, estimated to be worth $4.5 billion in 2015 and expected to reach $6 billion by 2020. The market grew nominally at a Compound Annual Growth Rate (CAGR) of 7.4% over the 2008-2020 period. The medical device market was valued at $1.3 billion in 2008 and is expected to reach approximately $1.8 billion by 2020, at a projected CAGR of 4.6%.
These positive trends can primarily be attributed to -
- An increasing elderly population in Saudi Arabia, leading to increases in disease incidence and prevalence as well as higher need for long-term care and medical devices
- Increasing awareness in the medical community and the general population regarding early disease detection and diagnosis, leading to higher rates of adoption of treatments and healthcare
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 (GlaxoSmithKline, Pfizer, Novartis, SPIMACO, Tabuk Pharmaceuticals) and the medical device market (Siemens Healthcare, GE Healthcare, Roche, Philips Healthcare, Abbott Laboratories)
- An insightful review of the reimbursement and regulatory landscape, of which analysis includes details of the healthcare reimbursement process, the regulatory agencies and the approval processes for new drugs and medical devices
- Detailed analysis of the political and economic environment, covering economic indicators, 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
This report will enhance your decision-making capability by allowing you to -
- 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 the healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of various competitors
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership
- Identify, understand, and capitalize on the opportunities and challenges in Saudi Arabian healthcare market
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