What are the latest developments in the Gulf’s Life Sciences & Health sector? How can Dutch solutions respond to these challenges? Are you eager to learn how the Topsector LSH and Dutch government can (re-)connect you with key stakeholders?
Why the Gulf region?
Even though regional governments continue to shoulder a sizeable part of the healthcare expenditure, in the backdrop of budget deficits, the importance of private sector participation is being widely discussed across the GCC nations. With increasing opportunities for the private sector, the healthcare industry is witnessing a surge in mergers and acquisitions. The inorganic route is being adopted by new players to enter the market and by existing providers to expand market share, physician practices and medical capabilities, says Krishna Dhanak, Executive Director, Alpen Capital (ME) Ltd.
Current Healthcare Expenditure (CHE) in the GCC is projected to reach US$ 104.6 billion in 2022, registering a CAGR of 6.6% from an estimated US$ 76.1 billion in 2017. Expanding population, high prevalence of Non-Communicable Diseases (NCDs), the rising cost of treatment and increasing penetration of health insurance are the factors auguring growth.
Given the ageing population and an expected increase in the frequency of visits to clinics for treatment and preventive care, the outpatient market size in the region is predicted to grow at an annualized average rate of 7.4% to US$ 32.0 billion between 2017 and 2022. The inpatient market is anticipated to increase at a CAGR of 6.9% to US$ 45.4 billion. Current Health Expenditure on ‘Others’ is expected to grow at a compounded annual average rate of 5.2% during the forecast period. The growing size of the population and the rising cost of medicine and ancillary services will be the forces driving the spending on other healthcare services.
In view of the anticipated rise in the number of patients, the region is expected to require 12,358 new hospital beds by 2022. This translates into an estimated annual average growth of 2.2% from 2017 to reach a collective bed capacity of 118,295. The high incidence of chronic cases has led to an increase in demand for beds, particularly in specialized areas of care. Although the general hospitals are not running at optimal capacity, the need for beds is rising due to the limited availability of speciality hospitals, long-term care centres and rehabilitation centres, among others. (Source: Alpen Capital Ltd).
What to expect?
- Country update addressing the current situation in the Gulf Region (Qatar, Saudi Arabia & United Arab Emirates) with regard to the LSH sector its opportunities, challenges and the long term perspective.
- Moving Forward, co-creating the Dutch LSH-agenda on Gulf region: discussing our upcoming activities and our long term programme for the Gulf Region.
- Your participation gives you the opportunity to influence what kind of activities should be organized to boost your business in the Gulf region.
After this Digital re-connect, you will have strengthened your…
- ..knowledge on LSH-opportunities in the Gulf region.
- ..marketing strategy for 2022 through the Gulf region Dutch LSH-agenda
- ..network of fellow Dutch innovators and entrepreneurs active in the Gulf region.