Medicine and biotechnology are critical elements of the Kingdom of Saudi Arabia economy with the rapid growth of such industries in recent years as evident from the doubling in size over the last decade. The current global health care economy relies on biotechnology tools to develop conventional medical products such as antibiotics, recombinant insulin, vaccines, monoclonal antibodies, bioengineered tissues, and adult stem cell therapy. The percentage of the Saudi expenditure on such conventional medical products was estimated to be 65%. The kingdom of Saudi Arabia has the potential to reduce the current expenditure on conventional medical imports through local development and localization of state-of-the-art medical technology tools enabling the local production of innovative medical products and replace the imported conventional ones. The Kingdom of Saudi Arabia is localizing manufacturing tools of promising medical products such as drug delivery systems at the nanoscale, RNA interference technologies, induced pluripotent stem cells, human genome project, biochips, gene therapy, phage therapy, and bionanotechnology. In addition to reducing the Saudi local expenditure on health-related imports, manufacturing innovative medical solutions will create new high-wage jobs, boost the local economy, and make Saudi Arabia a health-care leader worldwide. Modern medicine and biotechnology can create a cleaner environment and a better quality of life in addition to other tremendous opportunities for our society. Modern medicine and biotechnology will allow local institutions to work on multidisciplinary researches to elucidate the molecular mechanisms underlying diseases of interest to the Kingdom of Saudi Arabia, and in the development of rationally designed innovative platforms of new diagnostic approaches and cost-effective targeted therapies for unmet medical challenges. The economic impact of the modern medicine and biotechnology can be evaluated easily with the promise to detect and treat diseases in a personalized medical manner rather than on the basis of standardized tests. Such a dynamic life-style of personalized medicine and biotechnology will allow each job within the Saudi biotech and pharmaceutical industries to create more additional downstream jobs. Research and development of modern medicine and biotechnology is supported through the National Transformation Program and vision 2030, where young leaders can be train and have the ability to participate in conducting advanced high profile research in the healthcare industry.