Arab Health, an exhibition for healthcare and trade professionals in the Middle East and North Africa, MENA, region, announced that over US$778 million worth of business was generated by exhibitors during its 2018 edition.
This figure is in line with Alpen Capital’s projections that Gulf Cooperation Council, GCC, healthcare spending will reach $104.6 billion by 2022, from an estimated $76.1 billion in 2017, with a compound annual growth rate, CAGR, of 6.6 percent.
With an anticipated need for an additional 13,000 hospital beds and 10,000 new physicians in the region, demand is being mitigated by 700 healthcare projects worth $60.9 billion under various stages of development, as well government initiatives, such as the recently launched "Dubai Health Investment Guide 2018-25," which aims to encourage private sector participation.
Ross Williams, Exhibition Director of Arab Health, said, "Some of the key factors stimulating the growth of the healthcare market in the region include its ageing population, the increasing frequency of the non-communicable disease, and the high cost of treatment and mandatory health insurance."
"The trade generated during the last edition of Arab Health is an indication that the private sector is playing an important role in developing the healthcare industry, and we anticipate that these figures will continue to grow in subsequent years," Williams added.
In 2017, the World Health Organisation, WHO, Global Healthcare Database highlighted the fact that the emerging European and MENA healthcare market is expected to grow by 5 percent per annum.
Innovation is driving the healthcare industry forward, and technological advances are creating new opportunities for the UAE healthcare sector. Arab Health 2019 will, therefore, introduce a dedicated "Innovation Hub," to highlight some of these technological advances and innovations.
Industry sentiments from leading global manufacturers also reflect this trend, and their goal for the upcoming edition of Arab Health is to showcase their innovations in both technology and business, as well as increase the efficiency of patient flows.
Organised by Informa Exhibitions, Arab Health 2019 will welcome 4,500 delegates from across the region, to benefit from the experiences of 11 business and the "Continuing Medical Education," CME, conferences at the Arab Health Congress across various disciplines, such as radiology, surgery, gastroenterology, diabetes and paediatrics.