Saudi Arabia has called on leading US healthcare companies to expand their presence in the Kingdom’s fast-growing pharmaceutical, vaccine and medical device sectors, using the 2025 US-Saudi Investment Forum in Washington, DC as a platform to deepen bilateral industrial cooperation.
Minister of Industry and Mineral Resources Bandar Alkhorayef told the roundtable that Saudi Arabia’s healthcare market is now valued at approximately $70bn, offering significant opportunities for global investors.
Speaking under the theme “Advancing Healthcare Delivery Through Innovation and Biotechnology,” Alkhorayef outlined the ministry’s broad investment incentives and support mechanisms.
Saudi pharma sector
He said the Kingdom’s strategic priority is to localise advanced industrial technologies across pharmaceutical and medical manufacturing, strengthening national health security and building globally competitive production capabilities.
Alkhorayef highlighted the pivotal role of the Vaccine and Biopharmaceutical Industry Committee in accelerating domestic pharmaceutical manufacturing.
The committee is working to attract leading international companies, enhance the attractiveness of regulatory and legislative frameworks, and raise transparency standards for local and global investors.
He detailed the sector’s rapid expansion, noting that the Saudi pharmaceutical market is valued at $11.5bn, while the medical devices and equipment market has reached $6.5bn.
Growth is being driven by major national programmes, including the Local Content Program and the Health Sector Transformation Program.
Industrial transformation
He said the Kingdom is accelerating the adoption of advanced technologies, particularly those enabled by the Fourth Industrial Revolution and artificial intelligence, supported by competitive energy prices, digital infrastructure, and initiatives designed to simplify the investor journey.
The meeting was attended by National Industrial Development Centre CEO Eng. Saleh Al-Solami and senior leaders from the Kingdom’s industry and mineral resources sector.
It aligns with Vision 2030 and the National Industrial Strategy, which aim to localise pharmaceutical and medical industries by building international partnerships, transferring technology and knowledge, and attracting high-quality foreign investment.
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