is part of the Informa Markets Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
GCC accounts only for 1.2 per cent of the global HC revenue, but it is the region that saw the highest growth rate in the last decade. GCC has opened doors to global suppliers and moved beyond U.S. imports, which is likely to be the game-changer in the 2020s.
Technology and digitisation are in higher demand than ever before because of higher awareness and the shortage of skilled resources. The growth of domestic manufacturing and investment in start-ups will open doors for the competition and make healthcare affordable and available for all. The development of a sustainable supply chain in the 2020s will drive the penetration and adoption of healthcare products in the region.
The region promoted local production of generics in 2019, thereby increasing the pharmaceutical revenue in the region by 5 per cent to 10 per cent annually. This is likely to have been driven by KSA and UAE.
In the IVD market, NGS technology will be the key driver and is likely to see a double-digit growth rate. The UAE, KSA, and Kuwait were key contributors for this growth. AI that enables imaging services has seen high adoption from the last quarter of 2018. It is expected to be the key focus for tertiary hospitals. GCC digital health market is likely to grow significantly to capture 4 per cent to 6 per cent of the global market. Medtech vendors have grown their market by supporting the private sector’s growth in the region, and it is only likely to grow further with a higher double-digit growth rate.
Frost & Sullivan’s ‘Healthcare Industry Outlook for the Gulf Cooperation Council Countries, Forecast to 2020’ has been developed to support investors, healthcare companies, and other GCC organisations to understand the growth potential, opportunities in this rapidly changing industry. The base year for the study is 2018; the forecast is for 2020.
Download the report here.
Arab Health is the largest healthcare event in the Middle East and is organised by Informa Markets. Established in 1974, Arab Health provides a platform for the world’s leading manufacturers, wholesalers and distributors to meet the medical and scientific community in the Middle East and subcontinent.
The upcoming edition of the event is expected to welcome the healthcare industry to view the latest healthcare innovations, products and services, and experience the highest quality Continuing Medical Education (CME) conferences for medical professionals in the region.
If you have any other queries, email us on [email protected]