Amid global economic vicissitudes and unpredictable
financial climate that looms over the business arena, Saudi Arabia continues to
withstand and absorb the rigors as shown by the upbeat mood of its various
sectors. One of them is the healthcare industry, which, as the latest study
shows, will witness rapid growth. A recent report on “Saudi Arabian Healthcare
Market Forecast” revealed that the government is rapidly promoting the
involvement of private healthcare in the Kingdom. The Saudi Healthcare industry
is continuing to grow at a rapid pace. Saudi Arabia has a large and growing
population. The population is going to get older and hospitals and healthcare
providers in Saudi Arabia will need to equip themselves with the knowledge and
technology required to ensure this new aged population is adequately cared for.
Before the Kingdom of Saudi Arabia was established in 1932,
health care was generally provided by local healers. One of King Abdulaziz’s
first initiatives for his new state was to establish free health care, not just
for citizens, but for the pilgrims who come to the Kingdom to visit the Islamic
holy sites. As a result, medical facilities were set up throughout Saudi
Arabia. Within a relatively short period of time, once-endemic diseases such as
malaria and smallpox were virtually eradicated, the infant mortality rate
plummeted, and life expectancy rose sharply. The Kingdom’s health care system
also benefited tremendously from the government’s five-year development plans,
the first of which was launched in 1970. These ongoing plans promote
development in areas such as agriculture, commerce, industry, transportation,
communication, education and health care.
Saudi Arabia has the largest health care market
in the Gulf Cooperation Council (GCC), boasting the region's most
technologically advanced infrastructure, state-of-the-art facilities and
medical equipment. While the Saudi Ministry of Health (MoH) continues to be the
main financier for this sector, public funds alone will be insufficient to meet
the increasing health care needs of the Kingdom's rising population.
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