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Saudi healthcare sector to spend $160bn by 2030

Saudi healthcare sector to spend $160bn by 2030
Arab Health witnessed a 20% increase in visitors from the Kingdom during the 2019 edition

Riyadh – Mubasher: Saudi Arabia’s healthcare sector spending is expected to increase to $160 billion by 2030, according to recent data revealed by Arab Health Conference’s recent statement.

The sector’s spending has grown at a compound annual growth rate (CAGR) of 12.1% over the last nine years to $45.9 billion, Informa Market stated on Monday, citing Colliers International’s recent data.

“With the changing population composition alongside advancements in treatment technology, the provision of healthcare services in Saudi Arabia will undoubtedly change considerably,” Mansoor Ahmed, director at Colliers International, said.

Arab Health witnessed a 20% increase in visitors from the Kingdom during the 2019 edition, while exhibitors are forecasted to increase by 20% in 2020 with the Saudi General Investment Authority.

As for GCC nations, healthcare spending has increased in line with government strategies to diversify their economies.

Following Saudi Arabia, the UAE, Bahrain, Oman and Kuwait have all adopted National Transformation Plans (NTPs) to expand the role of the private sector in the healthcare industry and create additional capacity for their growing markets.

Arab Health is considered the largest exhibition for healthcare and trade professionals in the Middle East and North Africa (MENA) region.

The event, which will take place during the period between 27 and 30 January 2020, will be held at the Dubai World Trade Centre (DWTC) in Dubai.

It will host up to 4,250 exhibiting companies from 64 countries.

Arab Health offers a great number of opportunities to find new business partners and build new relationships within the healthcare industry.

“As a pioneer and innovator of the healthcare industry, Arab Health has an integral role in developing the industry across the GCC and internationally,” Ross Williams, Exhibition Director of Arab Health, commented.

Williams added that the event provides 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.