The Kingdom of Saudi Arabia considers the Healthcare Sector a priority, seeking to provide quality healthcare and build a world-class infrastructure. Saudi Arabia’s healthcare sector is a platform of significant opportunities for investors offering 100% foreign ownership.

Al Taasis offers you a fast business setup with customised prices.

Step-by-Step Process to Obtain MISA License in Saudi Arabia

Overview

The Healthcare Industry is related to clinical services, manufacturing drugs and medical equipment, health insurance and other healthcare-related support services. The Healthcare sector in Saudi Arabia is an investment hub due to its large population, encouraging foreign investments and implementation of business-friendly laws. The Kingdom aims to build medical facilities worth $13.8 billion by 2030.

Why is the Saudi Healthcare Market Attractive to Investors

The healthcare sector is a unique growth opportunity for investors because demand for healthcare remains stable as the business cycle fluctuations affect the healthcare sector the least.

The Growing Saudi Population

The current population of Saudi Arabia is over 36 million, and it is expected to grow to 39.4 million by 2030 and 77.2 million by 2050. A large population has increased the demand for healthcare services and created more investment opportunities. To cater to the needs of its growing population, the Kingdom requires the following:

• 13,700 doctors by 2030
• Additional 20,000 hospital beds by 2030

Healthcare is among the Top Priority Sectors

The government has allocated $36.8 billion from its 2022 budget to healthcare and social development as the third largest expense. The Kingdom plans to invest over 65$ billion to develop its healthcare infrastructure.

Privatisation of the Health Sector

The Kingdom aims to improve healthcare infrastructure by privatising healthcare services and enhancing public-private partnerships (PPP). By 2030, the Kingdom aims to increase private sector contribution from 40% to 65%, including 290 hospitals and 2300 healthcare centres to be privatised.

Fastest-Growing Digital Health Market in GCC

The government is adopting digital information systems to offer practical solutions with reduced cost, better quality and easy access to resources. The government has allocated $1.5 billion to incorporate information technology in healthcare and implement digital transformation programs.

Health Transformation Goals

The Kingdom’s focus on healthcare development is aligned with Vision 2030, and National Transformation Program launched in 2022. The National Transformation Program targets to provide sustainable healthcare services and develop an integrated health system with e-health services and digital solutions.

• Inclusive health services will cover 88 % of the population by 2025
• The unified digital medical records system will cover 100 % of the population.

Health Clusters in Saudi Arabia

The Ministry of Health has launched health clusters across Saudi Arabia to provide quality health services and build an integrated healthcare network. These clusters are a set of independent companies that focus on specialist services. The government aims to detach the Ministry of Health from overlooking hospitals and health centres and entrust the network of new companies with improving healthcare quality.

Contact us to know more about the prerequisites of your business journey.

Key Healthcare Entities in Saudi Arabia

The Ministry of Health (MoH)

The MoH is responsible for regulating and supervising all public and private health institutions.

Health Holding Company (HHC)

HHC is responsible for digitising and advancing the Kingdom’s healthcare system, focusing on providing medical services and care through health clusters. HHC focuses on expanding digital health programmes and virtual medical services.

National Unified Company for Medical Supplies (NUPCO)

Owned by the Public Investment Fund, NUPCO is centralised government procurement of pharmaceuticals, medical equipment and supplies to benefit all public healthcare facilities. It aims to achieve cost-spending efficiency and enhance governmental healthcare services in the Kingdom.

Saudi Food & Drug Authority (SFDA)

SFDA is the government agency that regulates the imports and safety of food, drugs, and medical devices.

Council of Cooperative Health Insurance (CCHI)

CCHI is responsible for regulating prevention and improving the value of healthcare services for health insurance beneficiaries.

National Center for Privatisation (NCP)

NCP assists in formulating regulations, creating privatisation frameworks, and preparing government assets and services identified for privatisation to ensure quality outcomes.

Contact us to know more about the prerequisites of your business journey.

Key Segments of the Healthcare Industry

Al Taasis has the expertise for setting up businesses across all key healthcare industry segments.

The healthcare sector can further be divided into two groups.

• The healthcare sector can further be divided into two groups.
• Pharmaceuticals, Biotechnology and Services

Healthcare Providers

• Hospitals and other medical centres
• Nursing homes and rehabilitative centres
• Ambulatory service providers

Healthcare Financiers

Government agencies and private companies facilitate health insurance policies and fund healthcare services.

Life Sciences

• Pharmaceutical firms making drugs and chemical products related to healthcare
• Manufacturers making high-tech medical equipment
• Biotechnology firms conducting research in the field of healthcare

Saudi Arabia’s Recent Investment Deal in Healthcare Sector (Source: MISA)

Burjeel Holdings, a UAE healthcare giant, signed a Memorandum of Understanding (MoU) with the Ministry of Investment (MISA), aiming to invest up to $ 1 billion in Saudi Arabia. The target investment areas will be in the healthcare ecosystem: specialty medical treatment centres and hospitals, digital health ventures, and clinical research programs.

Invest in the Healthcare Sector of Saudi Arabia

Al Taasis makes your investor experience more seamless by offering a one-stop platform. Get your license in a few easy steps and kickstart your business journey in Saudi Arabia.

Our team can guide you further about the specific requirements of your business activity.

Contact us to know more about the prerequisites of your business journey.