Abstract
Introduction
The Saudi Arabian pharmaceutical sector is becoming increasingly attractive
for multinationals to enter driven by the expansion of private healthcare and
altering patient demographics; and also for domestic generics companies as the
government looks to evolve its cost saving strategies.
Scope of this research
- Overview of challenges faced by the Saudi Arabian healthcare system and a
review of the healthcare financing system reforms
- Analysis of trends observed in the pharmaceutical sector and the
development of the healthcare insurance sector
- Update of healthcare reforms undertaken in the Kingdom and thought-leader
insights into future changes to be implemented
- Commercial implications of the reforms for insurers, multinational and
domestic pharma companies, supported by Datamonitor strategic recommendations
Research and analysis highlights
Healthcare reforms in Saudi Arabia will increase access to healthcare services
and pharmaceuticals as the penetration of cooperative health insurance
increases across the Kingdom. Datamonitor forecasts this will result in a
significant increase in overall expenditure on drugs; however there will be a
greater shift towards generics use.
As competition increases, insurers will attempt to increase profits by
implementing cost containment measures such as pharmacoeconomic drug
evaluations, generic substitution and formulary lists. However, strong
underwriting policies, optimal pricing premiums, and delivering quality care
to members will remain critical.
Increasingly westernized lifestyles have driven up levels of chronic disease,
enhancing the need for drug intervention, with lifestyle products dominating
the retail market. Many branded drugs despite their off patent status still
command market leading sales and positive growth, underlining the preference
for branded drugs in the Saudi market.
Key reasons to purchase this research
- Understand the Saudi healthcare market and the strategic implications of
future reforms and how these will affect your business
- Identify opportunities for mutually beneficial relationships between your
firm and insurers which are becoming increasingly powerful stakeholders
- Gain insight into investment opportunities and create compelling cases for
strategic changes in your organization to adapt to the evolving market
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