China-based Shenzhen Kangtai Biological Products Co., Ltd (SHE: 300601) has announced a strategic partnership with a drug importer in Saudi Arabia to promote the regulatory filing, marketing, and sales of its 13-valent and 23-valent pneumonia vaccines in the country. The local partner will handle the regulatory filing and approval process as per the agreement.
Saudi Arabia’s Demographics and Healthcare Market
In 2023, Saudi Arabia’s total population reached 36.9 million, with over 600,000 newborns in the past three years. As one of the most economically developed countries in the Middle East, Saudi Arabia boasts high total GDP and per capita GDP figures. Data from the Ministry of Commerce indicates that the country’s healthcare expenditure is expanding at a compound annual growth rate of about 5%, with an expected reach of 250 billion riyals (USD 67 billion) by 2025.
Focus on Infectious Disease Prevention and Control
Saudi Arabia is focused on infectious disease prevention and control, integrating 13-valent pneumonia vaccines and 12 other common vaccines into the national immunization plan. This strategic focus on public health aligns with the introduction of Kangtai Biological’s pneumonia vaccines, which aim to bolster the country’s immunization efforts and contribute to the overall healthcare landscape.-Fineline Info & Tech
