Saudi Arabia: Oil Wealth Opens Doors to Health and Life Sciences


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Saudi Arabia is perhaps best known for its oil, and the concomitant wealth that has brought to the kingdom. Indeed, Saudi Arabia is the largest economy in the Middle East and the world’s largest oil exporter.

The Pharmaceutical Landscape
Alongside its strong economy, Saudi Arabia also has a growing population, having increased at a CAGR of 2.4% over the 2000 to 2008 period and is expected to continue accelerating at this rate, reaching 28.5 million by 2012, according to NCB’s report Saudi Pharmaceuticals Sector Review. Additionally, incomes have been growing rapidly from an average of $20,700 in 2007 to a forecast average of $33,500 by 2020, according to the Saudi Arabian…

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