The government of the UAE is working hard to achieve its target of 500,000 medical tourists in Dubai in 2020 as a part of 'Dubai, a Global Destination for Medical Tourism' project launched by His Highness Shaikh Hamdan bin Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai. The government strategy is expected to achieve laurels by 2020 as the number of medical tourists in the nation is increasing every year. Year 2014 welcomed 135,000 in 2014 which increased to 150,000 tourists in 2015, and the number is further expected to increase to 170,000 in 2016 and 500,000 in 2020, generating revenue of approximately USD 300 million and USD 710 million respectively.
On the other hand, the high prevalence rate of diabetes among the nationals has also increased the demand for healthcare services in the country. Diabetes is root cause of various diseases such as kidney failure, cardiovascular diseases, skin abnormalities, hypertension, cholesterol, eye complications, nerve damages, foot problems, and dental diseases. It has been observed that more than 60% of the people residing in UAE are either obese or owerweight. Consequently, the major outcome of obesity, diabetes affected more than 1 million people in 2015. Moreover, it has been recorded that diabetes was responsible for 1,384 deaths in 2013 in UAE. The scenario is expected to worsen during the forecast year as the obesity prevalence rate is very high among the children in the UAE. Incidence of overweight and obese children (combined) was approximately 20% among the age of 6 to 10 years and 40% among the age of 11 to 19 years in 2014. These children would act as potential patients or customers for healthcare professionals during the forecast period as they suffer from chronic diseases due to overweight, generating revenue for the market.
Additionally, to strengthen their position in the emerging UAE healthcare market, various healthcare giants are entering into the market through strategic partnerships. The partnerships are observed to be common among medical devices and pharmaceutical products manufacturers. For instance, GE Healthcare entered into a strategic partnership with City Hospital, the Dubai Health Authority, MAF Ventures, and SEHA Abu Dhabi to deliver portfolio of technologies and health solutions to the country.
The healthcare market has been observed to grow at a CAGR of ~% from CY2010 to CY2015. Pharmaceuticals segment dominated the overall market owing to the high prevalence of the chronic diseases in the country, which are demanding effective treatment options. Additionally, the preference of patients and clinicians to opt for patented drugs further increases the total revenue as these drugs are expensive and generate high amount of revenue for the market.
The report titled “UAE Healthcare Market Outlook to 2020” provides detailed overview on the medical devices used in the hospital setting, diagnostic laboratories, clinics and polyclinics, pharmaceutical drugs and injectables used for treatment and diagnostic purposes, and services provided by healthcare providers for maintaining healthy population. This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for device manufacturing companies, pharmaceutical products manufacturing, companies, importers in UAE healthcare market, and international players and new entrants who are planning to invest in the UAE healthcare market in future.
Research Report : https://www.kenresearch.com/healthcare/general-healthcare/uae-healthcare-market-report/37505-91.html