Global Health Exhibition 2024 Launches With SAR 50 Billion Investments For Health Transformation

The Global Health Exhibition's seventh edition began at the Riyadh Exhibition and Convention Centre in Malham, north of Riyadh. The event, themed "Invest in Health," took place from October 21 to 23. It was organised by Tahaluf, a joint venture involving Informa PLC, the Saudi Arabian Federation for Cybersecurity, Programming, and Drones (SAFCSP), and the Event Investment Fund (EIF), under the Ministry of Health's patronage.

During the opening ceremony, Minister of Health Fahad Al-Jalajel emphasised the importance of health transformation. He stated that Saudi Arabia aims to be a hub for tackling global challenges through a unified government approach under Vision 2030. This involves developing procedures to support investment in innovation and building a health system that uses digital solutions and artificial intelligence.

Minister Al-Jalajel highlighted growing investment opportunities in Saudi Arabia's healthcare sector. He noted that the Kingdom has the highest regional investments in healthcare. The largest Initial Public Offering (IPO) this year was for Fakeeh Care Group, following Dr. Sulaiman Al-Habib Medical Group's IPO, which was among the largest at its time.

He also mentioned significant growth in private health insurance. In 2011, there were only 3 million insured individuals; by the end of 2023, this number had increased to over 12 million. The market size reached SAR 40 billion and is expected to double by 2030.

The exhibition announced projects worth over SAR 50 billion. Notable initiatives included a SAR 4 billion pharmaceutical manufacturing deal involving NUPCO, Novo Nordisk, and Sanofi. Other major projects were SAR 5 billion expansions at Fakeeh Care Group and new facilities by Almoosa Health Group valued at SAR 3 billion.

Dallah Health acquired Al-Salam and Al-Ahsa hospitals with a total capacity of 749 beds. Additionally, Dallah Hospital in Riyadh will have a capacity of 250 beds with potential expansion valued at SAR 4 billion.

Recognition and Achievements

Al-Jalajel proudly announced that WHO recognised Saudi Arabia's food products as trans fat-free. The Kingdom is also the first in the region to achieve WHO's fourth maturity level in medicine regulation through SFDA. Furthermore, Saudi Board Programs expanded to include 170 health programs adopted by 3,000 international practitioners.

The Seha Virtual Hospital was registered as the world's largest virtual health hospital in Guinness Book of Records. Several global medical talents received premium residency opportunities as part of these achievements.

Agreements on Exhibition Sidelines

Several agreements were signed during the exhibition. These included partnerships between the Council of Health Insurance and Alfaisal University and an MoU between Imam Abdulrahman Bin Faisal University and the National Institute for Health and Care Research.

An MoU was also signed between the Ministry of Health's Agency of Engineering Affairs and Supply and the National Center for Vegetation Development and Combating Desertification. Other agreements involved Lean Business Services with Elm and Weqaya with King Faisal Specialist Hospital and Research Centre.

The event underscored Saudi Arabia's commitment to advancing its healthcare sector through strategic investments, partnerships, and innovations aligned with Vision 2030 goals.

With inputs from SPA