Wednesday, July 04, 2012

Middle East healthcare industry facts and figures

Welcare Clinics Ambulatory in tecom

  • The GCC healthcare industry is expected to spend an estimated US$44 billion by 2015 and further to an estimated US$60 billion by 2025 from its current estimated size of US$28.9 billion in 2011 
  • By 2025, demands for hospital beds in the GCC will be more than double, requiring almost 162,000 beds to meet this demand. Saudi Arabia and the United Arab Emirates will register the greatest percentage increase in demand for hospital beds
  • In the next four years, the demand for hospital beds in Saudi Arabia is likely to grow from 51,000 to 70,000, and the number of hospitals is likely to rise from 364 to 502
  • The Kingdom of Saudi Arabia spent US$13 billion on healthcare in 2005, and this spending is expected to grow to over US$20 billion by 2016
  • The UAE government spent 24% of the 2011 federal budget on social and healthcare development. Total healthcare spending is projected to nearly double by 2014 raising the sector’s contribution to GDP from 2.8 percent to 3.4 percent, respectively
  • The UAE already spends $0.65 billion on medical costs related to diabetes. It is predicted that this figure will rise 58% to $1 billion by 2020 resulting in an increase in specialty hospitals
  • It is estimated that the UAE’s healthcare market is projected to reach US$14.6 billion by the end of 2014, growing at a compound annual growth rate (CAGR) of around 16% since 2011
  • In Kuwait, 1,200 projects are scheduled for 2011-12. The Government of Kuwait is set to tender approximately US$3 billion worth of healthcare projects this year