New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/21/2012 -- BMI View: Saudi Arabia's transition to an increasingly privatised and comprehensive healthcare system will drive the demand for both patented and generic drugs. The country is investing heavily in healthcare infrastructure and we expect this will be borne out in double-digit growth forecasts across our three headline indicators.
Headline Expenditure Projections
- Pharmaceuticals: SAR16.70bn (US$4.46bn) in 2011 to SAR18.95bn (US$5.06bn) in 2012; +13.5% in local currency and US dollar terms. Forecast broadly unchanged from Q312.
- Healthcare: SAR78.63bn (US$21.00bn) in 2011 to SAR91.20bn (US$24.35bn) in 2012; +16.0% in local currency and US dollar terms. Forecast broadly unchanged from Q312.
- Medical devices: SAR5.54bn (US$1.48bn) in 2011 to SAR6.53bn (US$1.74bn) in 2012; +17.8% in local currency and US dollar terms. Forecast unchanged from Q312.
Risk/Reward Rating: Saudi Arabia's composite score remained steady in Q412 at 55.6. This places the country to firth place out of the 30 markets in the region. Its score is propped up by the country's wealth and a sizeable population (exceeding 28mn in 2011). Furthermore, its forecast growth rate is high due to favourable public and private healthcare investments. The government is also in the process of creating more public-private health partnerships and encouraging private health insurance uptake, which should provide momentum for drug sales.
View Full Report Details and Table of Contents
Key Trends And Developments
- In a quiet quarter for pharmaceutical industry developments, the government's crackdown on smoking was intensified with the announcement in July 2012 of a ban on smoking in public places that would come into force with immediate effect. The official decree bans smoking, including shisha pipes, from all government facilities and the majority of commercial areas, including restaurants, supermarkets and shopping malls. The decree also prohibits the sale of tobacco to citizens under 18.
BMI Economic View: Assuming the survival of the current form of government into the medium term, we see ongoing strong growth and asset accumulation via real expansion in investment and exports, amid relatively high oil prices. Inflation in Saudi Arabia is unlikely to pick up substantially in the near term. Although the economy is enjoying a cyclical boom - brought about in large part by supportive monetary and fiscal policy - the government has so far succeeded in keeping prices in check through an extensive system of subsidies, which have taken the sting out of the upside price pressure brought about by rising incomes.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Sweden Pharmaceuticals & Healthcare Report Q4 2012
- Cipher Pharmaceuticals Inc. (DND) - Pharmaceuticals & Healthcare - Deals and Alliances Profile
- Egypt Pharmaceuticals & Healthcare Report Q4 2012
- Turkey Pharmaceuticals & Healthcare Report Q4 2012
- Netherlands Pharmaceuticals & Healthcare Report Q4 2012
- Galectin Therapeutics, Inc. (GALT) - Pharmaceuticals & Healthcare - Deals and Alliances Profile
- Latvia Pharmaceuticals & Healthcare Report Q4 2012
- Australia Pharmaceuticals & Healthcare Report Q4 2012
- Taiwan Pharmaceuticals & Healthcare Report Q4 2012
- Thailand Pharmaceuticals & Healthcare Report Q4 2012