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UAE Healthcare Market to Reach USD 20 Billion in the Future : Ken Research

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Title: UAE Healthcare Market to Reach USD 20 Billion in the Future : Ken Research


1
UAE Healthcare Market to Reach USD 20 Billion in
the Future Ken Research
2
UAE healthcare industry has witnessed high
development over the past years and has attracted
various international players to the market. The
region is engaged in building of large healthcare
infrastructure and medical cities to raise the
supply and quality of healthcare in the
country. Healthcare segment is considered as
priority segment by the Government of the UAE and
the segment has experienced tremendous growth in
the recent years. Presence of multinational
diverse population, high prevalence of chronic
diseases, aging population and growing medical
tourism in the region is the major factor which
has led to increased spending on healthcare in
the country. Mandate health insurance for Dubai
inhabitant regulation by DHA in 2014 impacted the
revenues of the hospitals in a positive manner.
The insurance provided freedom to residents to
opt for treatment and diagnostic procedures
without any fear of cost of the procedure,
benefiting the overall revenue of UAE hospitals
market.
3
Abu Dhabi dominated the UAE hospitals market, by
value in 2015. Presence of large number of
hospitals in the region to cater regions maximum
population percentage in the country. Big
players operating in medical devices and
pharmaceuticals market could plan to set up their
manufacturing unit in the country. This would
decrease the price of the goods as it would save
the import duties and margins of the importers.
Moreover, awareness about the company and
customer loyalty would also increase leading to
increase in demand for products The overall cost
of health insurance premiums is increasing at a
rapid pace. It has been observed that the overall
cost of premiums rose recording an increase of
more than 12. The cost of premiums is also
outstripping the cost of healthcare itself, which
is estimated to have risen by about 9 a year
between 2008 and 2013. Multi-specialty hospitals
dominated the hospitals market with high revenue
share in 2015, owing to their benefit to get
consultation from doctors with diverse
specialties. Additionally, the UAE hospitals
market was in growing phase in these six years
and therefore there were less number of hospitals
in the region. Therefore, the Ministry of Health
and private healthcare providers focused on
multi-specialty hospitals to cater with all the
disease conditions in the vicinity of hospitals.
4
Al Borg Medical Laboratories has a fleet of
vehicles used for serving the need of customers
from clinics, polyclinics, and hospitals. The
vehicles are used for collection of sample from
the patients respective place in accordance with
international standards. These cars are monitored
through GPS technology to guarantee accuracy and
timely tracking of their shipment. Rising
population, elevating medical tourism sector and
growing prevalence of lifestyle associated
chronic diseases are leading to an increased
strain on medical institutions to provide quality
healthcare solutions to residents, expats and
tourists in UAE. Telemedicine, which utilizes
digital technologies to provide healthcare
solutions from any location in the country proved
out to be solution for this. Telemedicine would
assist in relieving the shortage of quality
healthcare practitioners by expanding the reach
of UAE physicians and by providing access to
general and specialist care in affordable cost.
5
UAE home healthcare market is growing at a rapid
pace owing to the aging population, stable
economic position of people to opt for expensive
home healthcare service solutions, and rising
investments by public and private players in home
healthcare market. Germany based equity
investment group such as TVM Capital had also
invested into home healthcare market with the
establishment of Manzil Healthcare in
2011. Prescribed drugs hold the major share of
the UAE pharmaceuticals market. High prevalence
of chronic diseases in the region, which requires
prescriptions and cannot be treated with the help
of OTC drugs, is the major factor which has led
to the dominance. Various healthcare industry
giants such as GE Healthcare, Philips Medical
Systems, Siemens Healthcare and many others in
partnerships is increasing the awareness and
demand for advance medical equipments. Neopharma
in terms of revenue share was one of the leading
companies in the market in 2015. The companys
partnership with Pfizer and Merck Serono has
resulted in revenue generation for the company.
Partnership with Pfizer helped the company in
increasing its generic product portfolio and
through Merck Serono, Neopharma generated revenue
by manufacturing branded drugs for company to
cater UAE market.
6
Rising awareness about the pre-pregnancy tests is
the major factor which has contributed towards
the revenue of the medical diagnostic
laboratories in the UAE. Various market players
have also provided packages in low cost and
advanced pre-pregnancy test during these years,
boosting the demand for pre-pregnancy tests.
To know
more on coverage, click on the link
below https//www.kenresearch.com/healthcare/gen
eral-healthcare/uae-healthcare-market-report/37505
-91.html ContactKen ResearchAnkur Gupta, Head
Marketing Communicationsquery_at_kenresearch.com
91-124-4230204
7
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