Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef revealed that around 8,000 types of medicines are consumed in the Kingdom, highlighting that the country has identified a set of priorities, focusing on approximately 172 medicines and localizing the production of around 42 of them.
During a panel discussion on the first day of the 7th edition of the Global Health Forum, held in Riyadh on Monday, Al-Khorayef stated that Saudi Arabia offers significant facilitation for industrialization and localization, with a clear framework for enablers and incentives to encourage investors and stakeholders to enter the healthcare sector.
The ministry is collaborating with various sectors to develop industries in the Kingdom, with the goal of positioning the country as a global hub for vaccine manufacturing, he noted.
The minister pointed to “ongoing discussion about identifying global vaccine manufacturing locations, and we aim for Saudi Arabia to be one of these key areas.”
Al-Khorayef explained that the Vaccine and Biological Medicines Industry Committee has already become the central body managing investment attraction and localizing this industry. This provides global partners with a clear understanding of the Kingdom’s requirements and the market opportunities, offering them a clear point of reference for localizing the sector.
He further emphasized that Saudi Arabia has developed local content tools to facilitate technology transfer, ensuring that companies entering the local market will be successful and sustainable.
Al-Khorayef highlighted the growth in medical device manufacturing plants in the Kingdom, which increased from 54 to 150, while pharmaceutical factories grew from 42 to 56.
He also pointed out that advanced technologies, such as 3D printing, align well with the Saudi market. These technologies offer exceptional solutions to assist doctors and healthcare providers and have already reached advanced stages in their use for certain surgeries.
Additionally, the Kingdom is building a broad industrial base, a significant part of which will support the medical device sector, including industries such as metals, advanced petrochemicals, and chemical pharmaceuticals.
