Saudi Arabia Preventive & Rehabilitation Health care - opportunities for Finnish companies
As a result, the government has plans to extend the provision of preventive health care and widen the public knowledge on healthy lifestyle choices. With an estimated population of 29 million residents with an annual growth rate of 3.3%, the Saudi Arabian healthcare sector caters to a rapidly growing population and the concurrent increasing demand on the healthcare sector.
The healthcare sector represents a huge and growing market in Saudi Arabia, where spending as a proportion of the total national budget has more than doubled in recent years. As a result of urbanization and rising income, the majority of Saudi population have adopted an inactive lifestyle characterized by an aversion to exercise and consumption of processed food leading to lifestyle-chronic diseases (such as diabetes, coronary problems and other obesity related illnesses). Obesity is fast turning out to be a major cause of concern in Saudi Arabia with 7 out of 10 Saudis suffering from obesity, and 37 percent of Saudi women facing problems related to overweight.
Change in the market that has opened up this opportunity
Saudi Arabia's Vision 2030 plan of economic and societal change and modernization, which, among others, involves major changes to the overall structure of the health care system, such as rethinking the roles of the public sector and the private sector in the provision of services, paying closer attention to quality control and a more open approach to the use of technology. The National Transformation Program 2020, which sets forth concrete goals for the completion of the Vision 2030 plan, holds that the public sector would focus more on planning, regulation and supervision while the private sector would be in charge of the actual provision of services. Enhancements in quality would be reached through training and education of hospital staffs both locally and internationally, as well as the promotion of nursing as a career path. The plan also contains blueprints for an increased use of technology in the service provision. By 2020, 70 percent of Saudis should have their health information available online.
Offerings (products, services, solutions) are relevant to this opportunity
- Services and products mostly in the field of preventive health care '
- Education and training (screenings and check-ups, early diagnosis of diseases)
- Medical devices and equipment (treatment and rehabilitation)
- Home Health care services
Summary & key points
- Saudi Arabia's Vision 2030 plan of economic and societal change and modernization, which, among others, involves major changes to the overall structure of the Heath Care System, such as rethinking the roles of the public sector and the private sector in the provision of services, paying closer attention to quality control and a more open approach to the use of technology.
- Healthcare is one of the main focus areas of Saudi Arabia Vision 2030 and the the Ministry of Health plans to spend over 6.15 Billion US$ (23 Billion SAR) on new initiatives over the next 5 years.
- Healthcare related Memorandum of Understanding has been signed between Annika Saarikko, Minister of Family Affairs and Social Services of Finland and Dr. Tawfig Alrabiah, Minister of Health, Kingdom of Saudi Arabia. The MoU provides a fast track for deepened cooperation for the next five years.
Vast opportunity for the Finnish companies in the areas like; early diagnosis of diseases, e.g. cancer screening, lifestyle diseases (cardiovascular diseases and diabetes), preventive health measures, related digital solutions and developing the expertise of health care personnel.
If you are interested to hear more about the opportunities in Saudi Arabia, please contact us. Contact details can be found on the right hand side of this page.