Healthcare & Life Sciences

Healthcare and Life Sciences Overview

The healthcare and life sciences sector represents one of the most attractive sectors in the Kingdom. Saudi Arabia currently has a population of 35 million, nearly 60% of whom are under the age of 35, representing an incredible market demand not just today, but also for the future. The healthcare and life sciences sector accounts for 17.7% of the country's budget expenditure in 2021, making it the Kingdom's third largest recipient of government funding.

 

New exciting opportunities await healthcare and life sciences investors, thanks to a growing marketing size and the government’s firm commitment to increase the private sector’s participation in the market through privatization and new healthcare financing models

Explore Saudi Arabia's

Healthcare & Life Sciences Sector

Overview

Medical Technology (MedTech) is an overarching term defining the technologies used for the diagnosis, treatment, and/or improving an individual’s health or well-being. The Saudi government has emphasized utilizing medical technologies in the healthcare sector including but not limited to Tele-Consultations, National Health Command Center and Software as Medical Device (SaMD) to serve patients more effectively and efficiently. The localization of medical technologies offers massive potential to improve the quality of patient care, reduce costs, and increase patient-centeredness in healthcare.

  • 100%
    of the population will be covered by the unified digital medical records system by 2025
  • $5.4BN
    medical technology market size in 2021

Value Proposition

Rising prevalence of chronic and infectious diseases driving demand

Untapped potential for localization

The region’s emerging medical technology hub

A well-established regulator ensuring ease of doing business

Overview

The demand for healthcare services in Saudi Arabia has soared, as seen by rising healthcare budgets and investments throughout the last few decades, particularly in the last ten years. One of the unique aspects that makes healthcare and life sciences sector vital in the Kingdom is its commitment under Vision 2030 goals to increase the quality of life for the Saudi population. In fact, Health Sector Transformation Program has been announced as one of the Vision Realization Programs (VRP) to ensure continued development of healthcare services in the Kingdom.

  • 88%
    of the population, including those in rural areas, will be covered by medical health services by 2025
  • 5.8%
    CAGR healthcare services sector growth from 2017 to 2029

Value Proposition

Sizeable market with untapped potential and significant growth ahead

Rising prevalence of chronic conditions related to age, lifestyle, and genetic makeup

Strong government commitment and ambitious targets to develop the sector

Unique investments enablers

Success Stories from 
Healthcare & Life Sciences Sector

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