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The Medical Device Market: Saudi Arabia
Espicom Business Intelligence Ltd, Oct 2011, Pages: 56
The Saudi government’s capital health spending in 2009 was for the establishment of new health centres, 86 new hospitals with a capacity of 11,750 beds and further development of the Saudi Red Crescent. The government has allocated SR61 billion (US$16.3 billion) for health and social development as part of its 2010 budget. This is equal to 11.3% of the total budget. Eight new hospitals and 19 existing hospitals were expanded during the fiscal year.
New healthcare facilities, coupled with the government’s plan to recruit more healthcare personnel from overseas to work in these new centres, will inevitably see a spike in procurement of medical equipment and supplies and other capital goods needed for these new centres.
In 2007, the Saudi government established the National Company for Unified Purchase of Medicines and Medical Appliances, to act as the sole supplier of medicines and medical appliances to government health institutions. The company was set up to bring down the prices of medical devices and pharmaceuticals by preventing overcharging.
The SFDA has been given the task of developing and enforcing a regulatory system for medical devices. This will include establishing licensing procedures for manufacturers and suppliers. In what is a first step in developing a regulatory framework for medical devices, the SFDA in 2007 started the Medical Devices National Registry (MDNR), which is a voluntary web based project involving the registration of manufacturers, agents and suppliers in the country.
The government is working on expanding the health insurance sector, which in 2009, was valued at around SR5 billion (US$1.3 billion). This is expected to increase by a further SR2 billion (US$533 million) in the short term with new regulations introduced in January 2009 that will further expand the insurance scheme to Saudi nationals working in small and medium enterprises in the private sector. The large private sector companies already provide health insurance for their employers.
In the Ninth Development Plan, spanning the 2010-2014 period, the government has allocated SR242,671.8 million (US$64,712.5 million) specifically for the development of healthcare, which represents 16.8% of the total budget. The allocation for healthcare in the current plan is an increase of 82.4% over the SR133,044.5 million (US$35,478.5 million) allocated under the last plan. The plan focuses on further infrastructure and healthcare personnel development.
Includes 3 quarterly updated outlook reports!
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