uae healthcare market surges to aed 103 billion by 2021
Last Updated : GMT 09:40:38
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Last Updated : GMT 09:40:38
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According to New Study by MENA Research Partners

UAE Healthcare Market Surges to AED 103 billion by 2021

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Themuslimchronicle, themuslimchronicleUAE Healthcare Market Surges to AED 103 billion by 2021

Anthony Hobeika, Chief Executive Officer
Dubai - Arab Today

The move towards quality healthcare, increase in demand for preventive care and digital health will contribute to a massive 60 percent growth of the healthcare sector in the UAE in five years, according to a new study by MENA Research Partners (MRP), a leading research company in the region.

The current AED 64 billion (US$ 17 billion)market will surge to over AED 103 billion (US$ 28 billion) in 2021, driven by a shift in demand for preventive care, a rise in specialist medical services, more efficiently integrated healthcare solutions, as well as the high growth potential within specific medical device and pharmaceutical sub-sectors, says the report.Medical tourism and mandatory insurance will also contribute to the sector’s growth.

The country aims to achieve a world-class healthcare system and become among the leading countries, not only regionally, but in the world in terms of quality of healthcare, according to the UAE Vision 2021 National Agenda. To achieve that, the National Agenda emphasises the importance of preventive medicine and seeks to reduce lifestyle-related diseases to ensure a longer, healthier life for citizens. 

Anthony Hobeika, Chief Executive Officer at MENA Research Partners, said: “The healthcare sector in the UAE is witnessing structural shifts and, as a result, is changing fast to adapt to the demands of a younger, more health-conscious population asking for preventive care rather than curative care and, along the way, is more engaged in its own well-being. Being itself a digitally savvy population that enjoys one of the highest digital connectivity in the world, the new generation is redrawing the blueprints of the future of healthcare in the UAE. It is looking for a more personalised and specialist healthcare. While doing this, it is moving more towards interaction and self-management which is aided by the ever-growing digital technology in the sector.”  

The findings reveal that, while the healthcare market has been growing at over 10 percent year on year since 2015 and is expected to continue in this trajectory, there will be an upsurge of 15 to 25 percent insome subsectors across the three pillars of the market:a) healthcare providers-currently accounting for at 76% of the total market, b) medical devices-estimated at 6%) and c) pharmaceuticals and life sciences- estimated at18%.

In its report, MRP sized in excess of20 sub-segments and identified a number of niche areas that health providers need to cater over the next few years. The research also identifies key mega trends shaping demand for and delivery of healthcare as well as niche trends influencing medical provider models. 

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uae healthcare market surges to aed 103 billion by 2021 uae healthcare market surges to aed 103 billion by 2021

 



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