DUBAI HEALTHCARE CITY STUDY REVEALS KEY SECTOR TRENDS AND OPPORTUNITIES FOR MENA REGION’S HEALTH INDUSTRY
- Healthcare spending in the GCC is forecast to reach USD 99.6 billion in 2023 from USD 86.2 billion in 2020
- DHCC’s total economic contribution to the GDP of Dubai reached AED 2.8 billion in 2021
- Despite pandemic-related restrictions on global travel, Dubai doubled the number of health tourists in 2021 with international visitors spending USD 198 million on healthcare
Dubai- UAE, 30 January 2023: Dubai Healthcare City Authority (DHCA), the governing body of Dubai Healthcare City (DHCC), today launched a major whitepaper titled ‘Emerging Opportunities In Middle East Healthcare’ which reveals in-depth insights into the regional healthcare sector, with special focus on the GCC.
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.
Key findings from the whitepaper forecast healthcare spending in the GCC will grow at a CAGR of 4.9% to USD 99.6 billion in 2023 from USD 86.2 billion in 2020, with the UAE and Saudi Arabia commanding approximately 80% share of the total spending.
The report highlights 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. 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 growrth.
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.”
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 USD 198 million.
Underling DHCC’s role as a key contributor to the emirate’s diverse economic growth, the paper revealed that the freezone contributed AED 2.8 billion to Dubai’s GDP in 2021, a figure expected to reach AED 3.4 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.
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’ between January 30 to 2 February 2023.
About Dubai Healthcare City (DHCC)
Established in 2002 by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, the Dubai Healthcare City (DHCC) has become the emirate’s specialized free zone in health and wellness services, and a leading destination for healthcare investments. The free zone is governed by Dubai Healthcare City Authority (DHCA). DHCC benefits from the unique connectivity offered by Dubai’s location at the intersection of global roads, providing partners with an integrated business ecosystem with advanced infrastructure to support their success. Furthermore, DHCC offers a comprehensive range of business solutions covering start-ups to mega healthcare projects, as well as independent and visiting physicians. DHCC, a preferred destination for medical, wellness, academic, and research institutions, complements its offering with a selection of modern lifestyle options, providing its visitors with a wide range of hospitality, shopping, and entertainment features.