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In Saudi Arabia, A Vision Of Healthcare Spurs Growth

 
• By David Wild

As the Kingdom of Saudi Arabia reduces its dependence on oil as an export, one sector it is building up is the life sciences industry. The government is encouraging global companies to manufacture and invest domestically and they are improving their regulatory system and working with local players to enhance access to patients.

A Host Of Factors Are Drawing More Biopharma Interest in Saudi Arabia • Source: Shutterstock

When it comes to reaching markets in the Middle East and North Africa (MENA), global pharmaceutical companies have historically had to contend with fragmented and inefficient systems, stifling their ability to reach patients. However, the Kingdom of Saudi Arabia is hoping it can strengthen a reputation for itself as a reliable life sciences partner with a growing market. Financial inducements, regulatory improvements and infrastructure enhancements are some tools leaders are using to attract more international biopharma investment.

The Saudi pharmaceutical market is significant. It accounts for 37% of the broader MENA market, with an estimated $8.5-$10.7bn in annual sales in 2032. By 2030, it is expected to...

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