Riyadh, KSA: With population touching 30mn and state-of-the-art hospitals, both private and public, booming, the healthcare market in Saudi Arabia is expected to reach SR 51.2bn ($13.6bn) in 2020. As is the pharmaceutical manufacturing sector, which will double local production capacities by 2023. 

Industry reports suggest just around 20% of the drugs consumed in the country is made locally, and the National Transformation Programme (NTP) is working to boost the proportion of local pharmaceutical manufacturing to 40% by the end of 2020. The market outlook also suggests that the country’s Pharma market value will reach SR 40.1bn by 2023. This, coupled with initiatives under Saudi Vision 2030 to open the healthcare sector for privatisation will give a considerable impetus to pharmaceutical and biotechnology research & development, as well as create a much competitive and high-quality healthcare sector.

Saudi Arabia’s healthcare sector will see the most crucial transition in the upcoming years as the government, which had been the largest provider until now, will slowly take on the role of a regulator as more and more private providers enter the market. With increasing cases of non-communicable diseases such as cardiovascular diseases, cancer, chronic respiratory disease, diabetes and obesity that require long-term treatment and medication, there is much room for investments for the global and regional pharmaceutical players.

The Kingdom, which made enviable progress within a short period of time in the health sector, will host the 5th MENA Pharmaceutical Manufacturing Congress and Exhibition which will take place at Voco Hotel, Riyadh, on 3-5 December 2019.

“In light of Saudi Arabia’s current focus on job creation and economic diversification, the country is promoting local production, biotechnology research and development and the education of the Saudi labour force in pharmaceutical industry. We are organising MENA Pharmaceutical Manufacturing Congress and Exhibition as a platform to discuss these developments and identify opportunities for the future in Saudi Arabia,” says Eng. Waleed Rafaay, COO of Maarefah Management, the organisers of the event.

Leading technology providers and manufacturers will display the latest technologies and developments in pharmaceutical manufacturing, along with the API manufacturers. The congress will feature an exhibition area for showcasing the newest pharma manufacturing equipment, materials used at various manufacturing stages, raw materials suppliers, regional manufacturers, contract manufacturers and more.

Organised by Maarefah Management with support from the National Committee for Pharmaceutical Industries (NCPI) and Saudi Pharmaceutical Society (SPS). The event is sponsored by Glatt, Emerson & Thomas Engineering.

About Maarefah Management:

Maarefah Management is a world-class event, training and association management company that works closely with government institutions, industry bodies, and professional associations to help an individual’s career development to grow and sustain successful businesses. Through four main divisions, Maarefah offers comprehensive professional services ranging from events management, leadership development training, market research and association administration across several industries. The company’s conferences and specialized training courses are developed by well experienced technical committees who create up-to-date scientific and technical programs tackling current and critical industry issues.

Visit: http://www.maarefah-management.com 

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.