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 Research Partnership

Company Details

 Latest Content from  Research Partnership 

Research conducted for Johnson and Johnson published in scientific journal

Findings from a study conducted by Dr. Chris Gaj, Vice President at Research Partnership, has been published in Clinical Genitourinary Cancer.

Connecting our Inizio Advisory capabilities to help a client address a threat to the brand, guide strategy and improve brand performance

The challenge Our client knew that prescribing of a key brand in a major market had slowed and needed to understand which patient segments were impacted so they could address...

Autoimmune conditions: Living With syndicated patient reports

The prevalence of autoimmune conditions is increasing, and despite significant advancements in treatments, individuals affected by these diseases may not be receiving the most effective management and care. In our...

How we elevated HCP market research engagement and insights using AI avatars for an immersive experience

Our client required an effective strategy for promoting discussions about self-paid vaccines with healthcare professionals (HCPs) during patient consultations. The conventional method of conducting market research would typically only deliver...

How we provided comprehensive real-world patient data for PAH using Therapy Watch, our syndicated market tracking solution

PAH is a specific type of pulmonary hypertension, which is a rare condition treated primarily in specialized centers. Our client needed to gain a comprehensive understanding of PAH patients, such...

Latest European developments and new talent at Research Partnership

Angela Duffy has been appointed as Managing Director for our European based ad hoc research teams. Angela has been an integral part of Research Partnership for 19 years, witnessing its...

New syndicated report – Living with Ulcerative Colitis 2024

Living with Ulcerative Colitis (UC) is a new syndicated patient report that presents valuable insights into the unmet needs and the burden experienced by patients living with UC. The report...

Webcast: AI in MRX: Harnessing the power of AI + people

Artificial intelligence (AI) in market research has surged in recent years, with a flow of innovative tools and techniques which have the potential to revolutionize the landscape. But to unlock...

Navigating challenges of MedTech research with rare-disease patients

Authored by: Tom Donnelly, MedTech Director and Amanda Pirraglia, Associate Director. Published in Quirk's Magazine.