The Kingdom realizes the importance of the health sector, and now it ranks second in terms of spending in the general budget. This industry benefits from the expansion of the base of health spending in general, as the Saudi health sector is the largest in the Gulf countries in terms of government spending. These numbers enhance investment opportunities in the pharmaceutical and medical supplies industry, so that Saudi Arabia has become the balance between the countries of the Gulf Cooperation Council in the field of industries Medicines and medical supplies. Saudi pharmaceutical industries represent 80 percent of the total Gulf production market, according to the report, while Saudi factories cover a fifth of the local market’s need for medicines and medical supplies.
The package emphasized the importance of the role that the Ministry of Health plays in combating Corona virus, and its concern for the health of the homeland, the citizen and the resident alike, as the Saudi health sector has become an example to be emulated globally in all respects, cadres and excellence in this field, and the evidence for this is what we see in terms of organization, dealing and development In this field in particular, which strengthened the presence of medical supplies companies and their competition in a remarkable and organized manner in the Saudi market. She added: The pharmaceutical and medical supplies industry in Saudi Arabia has broad official support. The Kingdom stimulates the private sector to invest in the pharmaceutical industries by providing loans, exemptions and incentives, and establishing companies in partnership with the private sector for pharmaceutical industries and medical supplies, in an effort to enhance local participation in the pharmaceutical and medical supplies market.
The package revealed that the future of the pharmaceutical and medical supplies industry is promising in Saudi Arabia, especially given the regular expansion in the health sector, as we find that the focus of governments in the region is generally directed to health, transportation and education, and this means a steady rise in the market growth year after year.