Pharmafile Logo

Spotlight on Saudi Arabia

August 25, 2015 | Saudi Arabia, emerging markets 

Published in eyeforpharma 20 May by Rachel Howard

What are the opportunities and challenges for pharma companies wishing to gain a foothold in this oil-rich kingdom?

Traditionally the Middle East and North Africa (MENA) region has been overlooked by pharmaceutical companies, with the region contributing only about 2% of global pharmaceutical sales in 2010. Difficult regulatory environments and political turmoil have compounded the perceived lack of attractiveness of the region as a whole.

As we reach the middle of the decade, could the tide be turning? Over the last year, I have noticed increasing industry interest in Saudi Arabia (KSA) – and with good reason given it is the fastest growing pharmaceutical market in the Middle East, experiencing double-digit growth. In this article, I will take a look at the opportunities and challenges for pharma companies wishing to gain a foothold in this oil-rich kingdom.

Background

Though vast swathes of the country are uninhabitable desert, Saudi Arabia has a population fast approaching 30 million. It is a young country, with over half of the population under 30 years of age. As it is home to the holy Islamic cities of Mecca and Medina, its population receives a seasonal boost as over two million pilgrims visit each year to perform the Hajj. It also contains about a quarter of the world’s known petroleum reserves, and oil revenues account for approximately 90 percent of the government’s income.

A key pillar of Saudi Arabia’s internal stability relative to much of the surrounding region has been the kingdom’s generous social welfare system, of which healthcare forms an important segment. Healthcare services are available free of charge not only to Saudi citizens but also to all pilgrims, regardless of their nationality. Recent decades have seen considerable improvement in both the quantity and quality of healthcare services. A Royal Decree in 2002 resulted in sizeable expansion of the primary care network. Care in the top public hospitals, such as Riyadh’s renowned King Fahad Medical City, easily rivals that of the West, with imported medical technology and state-of-the-art facilities. Medical education is also fully funded by the state, including overseas training. As a result, many physicians are trained in leading US and UK medical schools.

However, not all is rosy. Despite the country’s affluence and stated commitment to healthcare, indicators suggest Saudi Arabia’s overall healthcare performance remains mediocre compared with the West, with an infant mortality rate that is double the average and a shorter life expectancy.

Read the full article at http://www.researchpartnership.com/news/2015/05/spotlight-on-saudi-arabia/

This content was provided by Inizio

Company Details

 Latest Content from  Inizio 

Research Partnership sends a cheque for $10,000 to Forever Angels

Helping them in their mission of caring for and improving the lives of orphans and abandoned infants in Tanzania

Pharma Market Research Conference, 2018

We are delighted to be presenting and exhibiting at PMRC, 14-15 February in Newark, NJ.

Out of the shadows: Mental health in the Asia Pacific region

In the first of a series of articles exploring mental health in emerging markets we take an in-depth look at the situation in Asia

Research Partnership has published a new patient Living with Atopic Dermatitis (US) report

Living with Atopic Dermatitis (AD) is a report based on a new study conducted amongst adult sufferers and parents of child sufferers. The report consists of 45-minute quantitative and 30-minute qualitative...

Research Partnership has published a new patient Living with Psoriasis (EU) report

Living with Psoriasis is a report based on a new study conducted in the main 5EU markets and Belgium and the Netherlands (reports can be purchased for either 5EU or 7EU)....

New opportunities in emerging markets

Published in Pharma Exec January 2018 by Rachel Howard

Webinar: Portfolio tracking for success

Thursday 18th January 2018 11:00 EST / 16:00 GMT / 17:00 CEST

20 questions: Round-up video

As it's our 20th year anniversary, we invited our employees to play our version of 20 questions throughout the year - this month we have created a final round-up video showcasing some...

Patient centricity: Reality or rhetoric?

Everybody is talking about patient centricity, but what does it mean for those involved in market research, insights and business intelligence?

Review of Disease Promotion Campaign using Facial Analysis

Our client had developed a visual and emotion-invoking, online disease awareness campaign aimed at challenging physicians’ current perceptions of treatment. Research was required to understand physicians’ reactions to the campaign...