The UAE’s healthcare sector is presently worth AED64bn, but is predicted to expand by 60 percent in the next five years to AED100bn in 2021, as per the report by Mena Research Partners (MRP), meaning it has been expanding at over ten percent year-on-year since 2015.
Its quick development is operated by several trends, including the move from the under-supply of infrastructure to saturation, shift from curative to preventive care, integration of technology, prevalence of chronic diseases, aging population, privatisation and medical tourism.
However, as per the report, there will be an rise of 15 to 25 percent in many subsectors: healthcare providers, which count for 76 percent, medical devices, calculated at six percent and pharmaceuticals and life sciences at 18 percent of the total market size.
Initiatives by the Health Authority of Abu Dhabi (HAAD) and Dubai Health Authority (DHA) to encourage medical tourism, also the raised penetration of compulsory insurance, are also anticipated to give to the sector’s expansion in 2018.
It is worth adding that the UAE is one of the highest destinations for medical tourism, with many travellers looking for cosmetic surgery in the Gulf country, which is erect at number 27 in world health systems, as per ranking by the World Health Organisation (WHO).
Its health sector has also maintained its position as one of the world’s highest 20 in matter of spending per capita, with the average spending each person every year calculated at $1,200. The number is expected to raise because of population increase, high birth rates and longer life expectancies.
The percentage of Emiratis above the age of 60 is set to double from around 5.2 percent at present to 11 percent by 2032. Poor lifestyle habits are also fuelling this expansion, with a high prevalence of chronic diseases induced by poor nutrition, sedentary schedules and smoking. As a outcome, cardiovascular diseases, diabetes and cancer are rising their dominance. The International Diabetes Federation calculated that around 20 percent of the population is diabetic.
Apart from Dubai and Abu Dhabi, Sharjah’s healthcare market is also predicted to expand from AED3.6b in 2015 to AED5.6b in 2020, as per Sharjah’s Investment and Development Authority (Shurooq).
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