Saudi spending on healthcare is projected to reach to SR91.20 billion ($24.35 billion) in 2012 or an increase of 16% in 2011.
Spending on pharmaceuticals will increase 13.5% to SR18.95 billion ($5.06 billion) in 2012.
And expenditure on medical devices is forecasted to jump 17.8 percent to SR6.53 billion ($1.74 billion) in 2012 from SR5.54 billion ($1.48 billion) in 2011.
Saudi Arabia’s transition to an increasingly privatized and comprehensive healthcare system will drive the demand for both patented and generic drugs, the study noted.
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In our Top 10 Plus One Global Healthcare Trends, we note at number nine: “Private Healthcare, Armed Conflict, and Political Backlash.”
And we just may see Saudi Arabia as the prime example of this growing trend.
Saudi Arabia, as noted by the CEO of the Council on Foreign Relations, is a politically unstable regime. In addition, he noted the make-up of the ruling elites is very similar to the political elites of the Soviet Union prior to its fall.
For those investors and operators working, or interested in working in Saudi Arabia, this is no surprise.
But the trick will be; can those investors and operators survive the coming turmoil? ……..HK