Arthur D Little forecasts growth in Saudi Arabia’s biotechnology and genomics sector
Information technology, Trends

Arthur D Little forecasts growth in Saudi Arabia’s biotechnology and genomics sector

A comprehensive analysis by Arthur D Little Middle East, projects substantial double-digit growth potential for Saudi Arabia’s biotechnology and genomics sector, in line with the aspirations of Saudi Vision 2030’s targets. The detailed report, orchestrated by Dr Patrick Linnenbank, Partner at ADL Middle East, and Dr Ankita Gulati, Principal at ADL Middle East, provides a data-driven forecast into the future of the Saudi Arabia’s role in the global biotech market.

Within this context, Saudi Arabia’s directed R&D investments, amounting to $3.9 billion in 2021 and aims to become a global provider in innovation and R&D, with annual investment equivalent to 2.5% of GDP by 2040 which are set to catalyse the expansion of the sector. This is expected to add $16 billion to the economy and create high value jobs in science and technology, are set to catalyse the expansion of the sector, reinforcing its commitment to a knowledge-based economy.

Dr Patrick Linnenbank, Partner in the Healthcare and Lifesciences Practice for Middle East and South East Asia at Arthur D Little remarked, “Our analysis indicates that strategic investments and initiatives are aligning with a growing demand for enhanced healthcare services and personalised medical treatment, which Saudi Arabia is well-positioned to fulfil.”

Dr Ankita Gulati states, “The confluence of genomic data and AI in healthcare is at the core of next-generation medical treatment and may revolutionise healthcare. Saudi Arabia’s current trajectory in genomics research and development is a robust indicator of its potential to lead in this domain.”

Dr Ankita Gulati, Principal at ADL Middle East

While government-led investment and vision are driving change, various entities within the R&D ecosystem are enhancing the biotechnology agenda. Prime among them are King Abdullah International Medical Research Centre, KAIMRC, King Abdullah University of Science and Technology, KAUST and King Abdulaziz City for Science and Technology, KACST.

December 16, 2023

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