Healthcare spending in the GCC will grow at a CAGR of 4.9% to $99.6 billion in 2023 from $86.2 billion in 2020, with the UAE and Saudi Arabia commanding approximately 80% share of the total spending, said a whitepaper.

 

Dubai Healthcare City Authority (DHCA), the governing body of Dubai Healthcare City (DHCC), highlighted in a whitepaper titled ‘Emerging Opportunities in Middle East Healthcare’, a renewed focus on healthcare as a holistic rather than symptomatic issue, further amplifying opportunities in the preventive medicine sector, especially as the governments are increasingly aligned with World Health Organisation’s approach.

 

Underling DHCC’s role as a key contributor to the emirate’s diverse economic growth, the paper revealed that the freezone contributed AED2.8 billion ($760 million) to Dubai’s GDP in 2021, a figure expected to reach AED3.4 billion by 2030. It has emerged as a catalyst for the healthcare job market, as it has now facilitated the creation of 15,760 jobs in Dubai.

 

Regulatory changes

Additionally, the whitepaper acknowledges recent regulatory changes in Dubai’s healthcare sector to improve efficiencies, and an increasing focus on private-public partnership projects, which Dubai Healthcare City is leading the way on, as a primary enabler of industry growth.

 

The study, the latest initiative in DHCA’s mission to contribute to the development of the healthcare sector in line with Dubai’s goal to become one of the world’s top 10 healthcare destinations, underlines the growth of the GCC and wider Mena healthcare landscape over the past decade and shines light om the opportunities for investors. 

 

Commenting on the whitepaper launch, Salim Dahman, Marketing and Communication Director, DHCA, said: “Since DHCC was launched in 2002, we have dedicated our efforts to realise Dubai’s goals of becoming a global leader in healthcare and wellness. To be able to address market demand, it is vital to understand its realities; and this whitepaper will help us to cater to the needs of our partners and the wider healthcare industry.”

 

Health tourists

Additional key findings demonstrate the resilience of Dubai’s healthcare sector. Research shows that despite pandemic-related restrictions on global travel, Dubai doubled the number of health tourists in 2021, wherein spending by international patients during the year reached nearly $198 million. 

 

Healthcare investors looking for an ideal destination to launch their business can learn more about DHCC services at the Dubai Healthcare City stand C30 (Hall 6) at Arab Health 2023, which runs at Dubai World Trade Centre under the theme 'Innovation and Sustainability in Healthcare’ from January 30 to February 2, 2023.-- TradeArabia News Service