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04 December 2023

Sector to touch $11.9bn in 2015

Dr Mashal Al Nawab (SUPPLIED)

By Staff Writer

The UAE healthcare market is undergoing rapid transformation, as domestic per capita GDP increases and the demand for healthcare in the region as a whole continues to grow. The value of the market in the UAE alone is expected to rise to $11.9 billion (Dh43.6bn) in 2015, from $3.2bn in 2005.

Crescent Investments said the rapidly expanding market is the reason why they have chosen to enter the sector.

"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. 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," said Vijay Sharma, Director of Investment at Crescent Investments.

Clinical Pathology Services (CPS) is a UAE-based company that has the only purpose-built, privately owned, stand-alone, reference medical laboratory for human pathology testing.

Dr Mashal Al Nawab, Head of Services at CPS said: "Crescent Investment's decision to invest in CPS is not only financially sound and by choosing to invest in CPS, they are also confirming their commitment to improving the infrastructure of healthcare in the country."