Saudi healthcare spending expected to increase to US$ 160 billion by 2030

• Healthcare to play vital role in diversification of the Kingdom’s economy from hydrocarbons as part of the country’s Vision 2030
• Successful growth of the healthcare sector will be dependent upon embracing, developing and adopting new technologies and innovations in line with population growth
• Saudi participation is expected to grow by 20% for the 2020 edition of Arab Health

Dubai, United Arab Emirates, 28th October 2019: Arab Health, the largest exhibition for healthcare and trade professionals in the MENA region, has revealed Saudi Arabia’s healthcare spending has grown at a Compound Annual Growth Rate (CAGR) of 12.1% in the last nine years to US$45.9 billion, and is expected to increase to US$160 billion by 2030.

The report by Colliers International, titled: “Saudi Arabia Healthcare Sector – Country in Transformation”, which forms part of the Arab Health Market Series, highlighted population growth at a CAGR of 2.5% to 45 million by 2030 as one of the key factors fuelling the demand for healthcare services. The research also outlined an increase in healthcare spending between 2011 to 2019 of US$18.4 billion, at CAGR of 12.1%.

Ross Williams, Exhibition Director of Arab Health, which takes place from 27 – 30 January 2020, said: “As a pioneer and innovator of the healthcare industry, Arab Health has an integral role in developing the industry across the GCC and internationally. We provide the perfect platform for representatives from the region to explore the latest technologies and innovations in the sector, to keep pace from a global perspective, while also showcasing the many opportunities for investing in the Kingdom and the rest of the GCC.”