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UAE Healthcare Market to Reach $11.9 Billion in 2015

DUBAI - The value of the market in the UAE alone is expected to rise to $11.9 billion in 2015, from $3.2 billion in 2005, as domestic per capita GDP increases and the demand for healthcare in the region as a whole continues to grow.

At present, almost $14 billion worth of healthcare-related projects are underway across the Gulf region, with Saudi Arabia alone spending more than $6.6 billion on a total of 83 projects, and the UAE and Qatar spending a respective $2.9 billion and $2.8 billion.

Vijay Sharma, Director of Investment at Crescent Investments says, “The healthcare market in the Middle East is growing rapidly, partly due to the region’s governments’ decision to invest heavily in infrastructure, which includes healthcare, and partly due to the high growth in population, changing social demographics, high prevalence of health-risk factors such as diabetes and cancer, and the emergence of insurance-based services.”

“The UAE is one of the more developed markets in the region, with one of the highest per capita healthcare expenditures, and there is a high demand for modern, hi-tech healthcare. The recent mandatory health insurance policy has also led to increased demands for health services and products. Crescent Investments sees the potential in this market, and this is why we have chosen to invest in the sector, with our first investment being in Clinical Pathology Services,” he added.

Dr. Mashal Al-Nawab, Head of Services at CPS said, “At CPS we are committed to adhering to the highest international standards, and to promoting the importance of standardised medical testing and accreditation not only for medical laboratories, but across the entire healthcare sector. Standardisation and accreditation are the cornerstones of a successful healthcare sector.”

He said, “Crescent Investment’s decision to invest in CPS is not only financially sound, but is also socially attentive, as by choosing to invest in CPS, they are also confirming their commitment to improving the infrastructure of all healthcare in the country.”

· aneela@khaleejtimes.com