Are You In The Starting Blocks?
In a snapshot on the future of healthcare in GCC, hospital bed & infrastructure magazine has spotted that countries are planning to heavily invest in hospital beds in the upcoming years.
An aging population, rapid urbanization, lifestyle diseases and the use of advanced technologies are contributing to the rise of healthcare cost.
Also,There is a significant increase of patients opting to stay in their home countries for treatment, leading to a higher demand in infrastructure. The demand for the number of hospital beds is expected to be 103.391 in 2019, a more than 10% increase in beds from 2015.
The public sector in the GCC is set to make large investments to improve healthcare infrastructure and attract most advanced technologies.
Kuwait: the government is working on strategy to bolster the healthcare system with 3,500 beds, new laboratory and surgical facilities, a 100% increase from the budget 5 years ago.
Saudi Arabia: KSA is an attractive market for healthcare investors due to a rapid growth in market size and demand in hospital beds. There is a total of approximatively USD$18 billion in the country health spend
Bahrain: the demand for hospital beds is expanding to 2,367 from an estimated 2,167, a CAGR increase of 2%. The construction of a health island is expected to improve infrastructure.
Qatar: the country has the highest per capita spending on healthcare in the GCC countries. It is expected to expand up to USD$4 Billion in the next 5 years.
Oman: this is one of the most advanced healthcare nations. The healthcare market is worth today USD$2 billion. like the other countries in the region, the MOH runs and operates the key hospitals in the country. In addition, the government is developing a healthcare city near the capital of USD$1billion to attract medical tourists from all over the world.
United Arab Emirates: despite the global financial crisis, the UAE has attracted major international healthcare investors. The healthcare spending per capita remains high driven by increase in awareness level and overconsumption of healthcare services by insured patients. Almost 30% of the federal budget was spent on social and healthcare development.
If you are a Medical Manufacturer or a healthcare investor wishing to be part of these future booming markets but you do not know where to begin, contact our team of experts.
Experts of the MEA region, TBMedex provides outsourcing export sales, product distribution, market and distributor search services to Medical Manufacturers with innovative products