Market review

Clinical laboratory sector has proven to be one of the most fundamental divisions in today’s value chain of the healthcare industry. It is undeniable that the significance of clinical laboratory sector has relatively grown in KSA over the recent years. Laboratory tests have not only aid the identification of disease by determining the existence, absence as well as its extensiveness, but also to further monitor the potency of treatment.

With the disclosure of lifestyle disease and an obvious paradigm shift in private and public sector worldwide, clinical laboratory sector however still exists in a challenging position. Although it is undeniable that indispensable attention should indeed be given to preventive care rather than curative care, a thorough point of convergence has yet to be fully given.

However, according to Aon Hewitt, the healthcare industry in KSA is predicted to grow at a compound rate of 12.3% by 2020. KSA has also largely involved abundant private sectors in the diverse healthcare industry which includes the clinical laboratory sector to increase its productivity apart from minimizing the cost. This is driven by the support provided by the KSA government in enhancing the healthcare industry by raising its development expenditures.