Riyadh: Minister of Health Fahd bin Abdurrahman Al-Jalajel announced the launch of healthcare investments exceeding 50 billion Saudi riyals at the Global Health Exhibition, hosted by Saudi Arabia.

These investments aim to address global health challenges and enhance public health.

During the opening of the exhibition at the Riyadh International Convention and Exhibition Center in Malham, Al-Jalajel highlighted the World Health Organization's recognition of Saudi Arabia for eliminating trans fats from food products, positioning the Kingdom at the forefront of countries achieving this milestone.

He also praised the World Health Organization’s declaration that Saudi Arabia, represented by the Saudi Food and Drug Authority (SFDA), has achieved maturity level four (ML4) for medicines and vaccines regulation. This makes Saudi Arabia the first in the region to attain this classification, the highest level in the WHO’s framework.

Al-Jalajel further emphasized the significant growth in Saudi Arabia’s private health insurance sector, which has expanded from 3 million insured individuals in 2011 to over 12 million by the end of 2023, with a market size of up to 40 billion Saudi riyals. He expects the private health insurance market to double by 2030.

The minister also noted the rapid growth of the Saudi pharmaceutical sector, which is approaching an annual growth rate of 10%, with expectations to surpass 72 billion Saudi riyals by 2030, making it the fastest-growing among G20 countries.

Al-Jalajel stated that the Ministry of Health is pursuing two parallel tracks to elevate the excellence of national healthcare professionals. The first track focuses on investing in Saudi talent through the expansion of Saudi Board seats and the enhancement of training and localization programs. The second track aims to enhance partnerships and attract global experts to work alongside skilled Saudi professionals. He highlighted that Saudi Arabia has granted premium residency to over 2,600 exceptional healthcare professionals.

The minister also spotlighted the Kingdom’s Modern Healthcare Model, which currently serves 28 million beneficiaries. More than 50 million appointments have been made through digital services, and over 30 million beneficiaries have received virtual consultations through the unified platform NPHIES.