A new healthcare reform to be introduced by the Kingdom of Saudi Arabia is expected to accelerate the growth of the health insurance sector, it has been revealed.

According to a study by Datamonitor, a business intelligence company, the reforms will increase the accessibility to healthcare services and that the expansion of private healthcare coverage will lead to substantial growth of the healthcare and the pharmaceutical sector.

“It will also result in the emergence of new niches in the healthcare ecosystem,” it added.

The study involved regulators, insurers, pharmaceutical firms and the Saudi Arabian General Investment Authority.

It suggested that the reforms will bring about a huge increase in private healthcare expenditure.

It further showed that there will be increased access to healthcare services and pharmaceuticals, as the cooperative health insurance further penetrates across the Kingdom.

The introduction of health insurance will affect the accessibility to private medical insurance by a large percentage of the Kingdom’s population, the report added.