Global Health Exhibition has begun in Saudi Arabia with more than $13.6bn of deals, includingnew hospitals and expansions of medical businesses.
The seventh edition of the Global Health Exhibition commenced under the slogan “Invest in Health” at the Riyadh Exhibition and Convention Centre.
The event was held under the auspices of the Ministry of Health, supported by the Health Sector Transformation Program, and organised by Tahaluf from October 21 to 23.
Global Health Exhibition 2024 in Saudi Arabia
The exhibition announced projects valued at over SR50bn ($13.3bn), including several key initiatives. Among the most prominent were:
- The announcement of a SR4bn ($1.1bn) pharmaceutical manufacturing deal among NUPCO, Novo Nordisk, and Sanofi
- The SR5bn ($1.3bn) expansions at Fakeeh Care Group
- The establishment of five primary care centres and two hospitals by Almoosa Health Group valued at SR3bn ($799m)
- The acquisition of Al Salam and Al Ahsa hospitals in the Eastern Province by Dallah Health, with a total bed capacity of 749 beds
- The construction of Dallah Hospital in Riyadh with a capacity of 250 beds and the potential for expansion, valued at SR4bn ($1.1bn)
Speaking at the launch, Minister of Health Fahad Al Jalajel said: “Our goal is for the Kingdom of Saudi Arabia to serve as a hub for addressing the current and future major global challenges by establishing a unified government approach under Vision 2030, in accordance with the principle of health in all policies.
“This will be achieved by fostering the development of procedures that support investment in innovation, constructing a health system that leverages the power of digital solutions and artificial intelligence, developing a local health workforce, and attracting the best talents from around the world.
“These are the motivations that drive us to advance our health transformation with practical steps and concrete actions.”
“We are proud that the World Health Organisation (WHO) has recognised the Kingdom of Saudi Arabia’s food products as being free of trans fats, placing the Kingdom at the forefront among countries receiving this recognition.
“The WHO also announced that the Kingdom, represented by the Saudi Food and Drug Authority (SFDA), is the first country in the region to achieve the fourth maturity level in the regulation of medicines and vaccines, which is the highest level in the organization’s classification.”
Al Jalajel also mentioned the expansion of Saudi Board Programs to 170 health programs, which have now been adopted by 3,000 international practitioners.
He highlighted investment opportunities in the health sector and said: “Investment opportunities are growing, especially since the Kingdom has the highest regional investments in healthcare. The largest Initial Public Offering (IPO) in the Saudi market this year was for Fakeeh Care Group, following the IPO of Dr. Sulaiman Al-Habib Medical Group (HMG), which was among the largest at that time.
“This makes the health sector the fastest-growing in the Saudi market.”
Regarding the private health insurance sector, Al Jalajel said: “The private health insurance sector is witnessing significant growth. In 2011, there were only 3m insured individuals, but by the end of 2023, that number had risen to over 12m, with a market size of SR40bn ($10.7bn). It is expected to double by 2030.”
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