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FINANCIAL NEWS
Saudi insurance market set for robust growth
15 May 2010
(MENAFN) The latest research study by RNCOS forecast that healthcare spending in Saudi Arabia is anticipated to grow robustly due to increased government efforts to develop infrastructure, The Saudi Gazette reported.
Saudi Arabia represents one of the most lucrative healthcare markets in the world. The kingdom�s healthcare market has recorded steady growth over the past few years. And the government, which funds most of the Kingdom�s healthcare capital and operating expenditures, has budgeted an additional 51 percent for healthcare and social services in 2010 – amounting to $16.3 billion.
The additional spending is largely aimed at improving the standard of healthcare services in the country and this will drive the future growth of the healthcare industry in the country.
The report studied the Saudi Arab healthcare market by dividing it into three major segments, i.e. hospital care market, pharmaceutical market and medical device market.
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