Kingdom’s Healthcare Market to Grow 69 Percent to USD 27 Billion by 2020

Digital healthcare innovations are key for supporting Saudi Vision 2030 and the rapidly-growing Saudi healthcare market, set to reach USD 27 billion by 2020, industry experts announced today.

The Kingdom’s healthcare sector transformation is being guided by the over-arching Saudi Vision 2030 and National Transformation Plan, along with the Ministry of Health’s National Healthcare Project and National e-Health Strategy.

As a result, the Saudi healthcare market, the largest in the GCC, is set to grow by 69 percent from USD 16 billion in 2015 to USD 27 billion by 2020, according to a recent report by Alpen Capital.

Supporting Saudi Vision 2030’s goals for greater private sector healthcare participation, Dr Abdul Rahman Al-Mishari Hospital has announced a partnership with global enterprise software company SAP on digital healthcare solutions.

“Al-Mishari Hospital faced an increasing number of patients and reporting requirements. With the Kingdom’s population and ailments continuing to increase, Al-Mishari Hospital’s partnership with SAP provides data-driven insights to help drive innovation and planning, and support Saudi Vision 2030,” said Mohammed Abdul Rahman Al Mishari, Vice-Chairman of Dr Abdul Rahman Al-Mishari Hospital, the Kingdom’s first and leading private hospital.

The first hospital in the Kingdom running SAP solutions, Al-Mishari Hospital has deployed the in-memory SAP HANA computing platform and SAP Healthcare Information Systems. This real-time digital platform enhances collaboration, operations, and planning, and enabling personalized healthcare solutions such as automated appointments, digital patient records, and telemedicine.

“The Kingdom of Saudi Arabia is at the forefront of healthcare innovation, with the private sector playing an increasing role in supporting federal healthcare goals. Al-Mishari Hospital is demonstrating global best practices in using real-time insights to enhance the patient experience and reduce costs,” said Eng. Ahmed Al-Faifi, Managing Director, SAP Saudi Arabia.

Eng. Khaled Moussa, Chairman of Smart Consulting Solutions, the company that will deploy the SAP system, outlined the project’s objectives and scope, saying that the project is of high significance and a top priority, with the aim of installation being prompt and precise.

“We believe that the SAP project is in line with the hospital’s efforts to drive innovation with the latest developments in the global healthcare sector, and thus achieve its current and future strategic objectives,” said Eng. Khaled Moussa.

The Vice Minister of Health, His Excellency Hamad bin Muhammad Al-Duweila’, recently praised private hospitals, including Al-Mishari Hospital, for supporting the Kingdom’s healthcare sector.

Demonstrating global best practices, Al-Mishari Hospital has received accreditation from organizations such as Accreditation Canada, American Academy of Continuing Medical Education, American Hospital Association, Joint Commission International, and International Hospital Federation.