Funding The GCC’s Healthcare Boom

 14-Aug-16, Forbes 

Gulf countries have enjoyed years of financial prosperity, weaned from high oil prices over many years. But as the economic boom has deflated slightly in tandem with hydrocarbon prices, the region has been saddled with another boom, albeit of a different nature. Struggling under a massive social burden of lifestyle diseases such as diabetes and other cardiovascular ailments, the GCC region is now expected to see the healthcare industry flourish as it works to keep the populace healthy.

Image: Dallah Healthcare

The region’s healthcare market is projected to grow at 12.1% per annum from an estimated USD40.3 bn in 2015 to USD71.3 bn in 2020. Meanwhile double-digit growth is predicted in each regional market, with the healthcare market in each GCC country anticipated to expand by 11% to 13% annually.

The UAE has seen homegrown private sector players cash in on this favorable environment.

• NMC Health recently opened the doors to its largest ever facility in Abu Dhabi.
• Abu Dhabi-based VPS Healthcare is working on a USD355 mn Burjeel Medical City, slated to open in 2018. 
• Aster DM Healthcare is also making strides in tertiary care, planning to open six more hospitals under its Medcare brand over the next two years.

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