RIYADH: The Saudi Arabia healthcare market ranks first among 17 countries across the Middle East and Africa (MENA) region. The Kingdom's pharmaceutical market alone is expected to register a compound annual growth rate (CAGR) of 5.66 percent, increasing to $3.49 billion within the next two years from $2.65 billion in 2008. Mohammed Al-Hussaini, Deputy General Manager, Riyadh Exhibitions Company (REC), said that Saudi Arabia's healthcare sector ranked number one among 17 countries in the MENA region as the Saudi government has embarked on an investment program to strengthen the country's ability to provide world-class healthcare to its citizens and residents. This is driving the demand for pharmaceutical products as well as medical supplies and related services in the country, he added. “There is no country in the Middle East that provides more lucrative investment and business development opportunities than Saudi Arabia,” Al-Hussaini told Saudi Gazette. Al-Hussaini said REC under the patronage of the Ministry of Health (MoH) will organize “Saudi Medicare 2011, the 14th International Healthcare, Hospital Supplies and Medical Equipment Show” from April 10 to 13 at the Riyadh International Convention and Exhibition Center. “Saudi Eye Care 2011, the 7th International Eye Care and Optical Technology Exhibition”; “Saudi Dentistry 2011, the 10th International Dental Health Exhibition” and “Saudi Lab 2011, the International Laboratory and Analytics Exhibition” will also be organized concurrently with Saudi Medicare 2011. Medical experts from Saudi Arabia and other countries will also share their experience in the field of new applications, procedures, research studies, and trials in radiology. The REC is gearing up to organize the event, which will benefit the participants with exclusive insights regarding the Saudi healthcare industry as well as the health insurance industry in the GCC. The expo will also provide many opportunities to build networks and gain direct contact with decision makers and government procurement organizations. “The event will serve as a platform for key market leaders, investors, suppliers and professionals to access the growing business prospects of the Saudi healthcare sector,” he said. Saudi Medicare is expected to draw international participation from countries such as Germany, the UK, France, Italy, Portugal, Brazil, Turkey, the UAE and China among others. Saudi Medicare 2011 will enable participants to explore the latest business development opportunities in the healthcare industry in Saudi Arabia and offer information and resources to develop strategies to exploit the rapid growth in the healthcare industry in the region.
