Catholics meditate on Scripture at every Mass. The readings and responsorial Psalm during the Liturgy of the Word are taken directly from the Bible. Each Sunday mass includes three readings from Bible, first and second readings from Old Testament, Acts, Epistles or from Book of Revelation and third reading is from one of the four Gospel. First two readings are read by lay people and Gospel reading is always done by priest. Other daily masses (weekday’s masses) comprise only two readings and one of this is invariably from Gospel.
The Catechism of the Catholic Church states:
The Church forcefully and specifically exhorts all the Christian faithful . . . to learn the surpassing knowledge of Jesus Christ, by frequent reading of the divine Scriptures. Ignorance of the Scriptures is ignorance of Christ. (CCC 133)
Many read the bible and come to know about teachings of Jesus and believe in Him. Others get their faith when someone tells them about Jesus and they start believing in Him. But to say that to attain salvation, every person on earth will have to necessarily read the Bible would be impracticable considering the illiteracy, financial status, economic conditions of some and for many other reasons. This would like what Jesus said:
Matt: 23:4 They tie up heavy loads, hard to carry, and put them on men’s shoulders, but they themselves are not willing even to lift a finger to move them.
There were times when population was almost 99 % illiterate when early Christianity was being taught around the world. This populace died in their illiteracy. Then there were economic reason for not having access to copies of bible. It was necessary to have a fortune to have a copy of bible on written material like papyrus or on vellums. Yet many of the people from early Christian era have known, understood God, lived saintly lives and some became saints too.
In general all Christians need to read and study the Bible because it is God's Word to us. There are so many questions God answers for us in Scripture. What is the purpose to life? Where did I come from? Is there life after death? How do I get to heaven? Why is the world full of evil? Why do I struggle to do good? Bible gives much practical advice such as: What do I look for in a mate? How can I have a successful marriage? How can I be a good friend? How can I be a good parent? What is success and how do I achieve it? How can I change? What really matters in life? How can I live so that I do not look back with regret? How can I handle the unfair circumstances and bad events of life victoriously?
We need to read and study the Bible because there is so much false teaching around. The Bible gives us the measuring stick by which we can distinguish truth from error.
The Bible helps us know how to be saved from our sin. God’s Word helps us see sin in our lives and helps us get rid of it. It gives us guidance in life and keeps us from wasting years of our lives on that which does not matter and will not last. Bible helps us see beyond the attractive "bait" to the painful "hook" in sinful temptations, so that we can learn from others' mistakes rather than making them ourselves. It is so much better to learn from others' mistakes. There are so many Bible characters to learn from.