The GCC healthcare industry is expected to grow at a healthy pace owing to a rise in ageing population, improving economic activity, increased focus on preventive care and mandatory health insurance. The industry is currently in a phase of transformation, moving from a curative care to preventive care model, credited to increased health awareness levels and high incidence of NCDs. It is also undergoing significant digital transformation as it has been a key focus area of the GCC governments. Organizations are establishing strategic plans to set up integration of data and leverage cross-functional capabilities that will not only strengthen their competitive advantage but also encourage the establishment of integrated healthcare networks.
Alpen Capital’s comprehensive industry research reports on the healthcare sector provides in-depth analysis and forecasts for the sector, examines recent trends, growth drivers and challenges facing this dynamic segment. Additionally, the report profiles select healthcare operators in the region.
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GCC Healthcare Industry Report
According to Alpen Capital, CHE in the GCC is expected to grow from an estimated US$ 109.1 billion in 2024 to US$ 159 billion in 2029, at a CAGR of 7.8%. The region’s expanding population base, high incidence of NCDs, rising cost of treatment and medical inflation, coupled with increasing penetration of health insurance are expected to drive growth.
CHE as a proportion of GDP in the GCC is anticipated to grow from 5.0% in 2024 to 5.7% in 2029.
The growth varies widely among the GCC nations largely owing to country-specific population projections, economic conditions and cost of healthcare among other factors. Saudi Arabia is likely to witness the highest growth rate at 8.8%, whereas the UAE’s healthcare industry is expected to grow at a CAGR of 6.7% during the forecast period. . The market rankings are expected to remain unchanged, with Saudi Arabia and the UAE dominating the region’s CHE with a combined share of 82.6% by 2029. CHE of Qatar, Kuwait, Bahrain and Oman is expected to grow at CAGRs of 8.3%, 6.3%, 6.0% and 4.0%, respectively between 2024-2029.
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Alpen Capital is actively advising players within the healthcare industry to capitalize on the array of opportunities that the region presents owing to the privatization initiatives and increasing adoption of technology to create alternative healthcare models.
