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 estimated to have grown at a CAGR of 9.5% between 2020 and 2022 to reach US$ 104.1 billion. The two-year period, when the healthcare sector was primarily combating the pandemic, recorded a high growth in inpatient and outpatient levels. Healthcare expenditure in the GCC is further projected to reach US$ 135.5 billion in 2027, growing at a CAGR of 5.4% from 2022
Growth rates among the GCC nations varies widely owing to country-specific population projections, economic conditions, cost of healthcare, and prevalence of underlying diseases among other factors. UAE is likely to witness the highest growth rate of 7.4% compared to its GCC peers in anticipation of a fast-growing population, increased and wider coverage of mandatory health insurance and high medical inflation rate. The market rankings are expected to remain unchanged, with Saudi Arabia and the UAE dominating the region’s CHE with a combined share of 79.6% in 2027. CHE of Qatar, Bahrain, Oman and Kuwait is expected to grow at a CAGR of 5.1%, 6.1%, 4.7% and 4.4% respectively during the forecast period.
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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.
