“The UAE Healthcare Industry to reach US$ 34 Billion by 2018- says RNCOS”.
Noida, UP -- (SBWIRE) -- 10/17/2014 -- The Healthcare industry in UAE is attracting huge investments. Rapid expansion in the population and income along with sedentary lifestyle of Emirati people are some of the significant growth drivers of healthcare in the region. The UAE healthcare market was estimated to be around US$ 18 Billion in 2013 which is expected to grow at a CAGR of nearly 13.5% in the next five years from 2014-2018 as per RNCOS analysis.
Highlighting the potential of this industry, Shushmul Maheshwari, CEO – RNCOS said, “the healthcare sector in the UAE has developed at a rapid pace in the last ten years”. He further added, “advancements in medical and computer technology as well as recent mandatory health insurance policy have resulted in inclined demand for healthcare services and products in the UAE”.
Our analysis suggests that rising affluences and the resulting new lifestyles have resulted in various diseases such as coronary and cardiovascular diseases, diabetes, cancer, respiratory and skin diseases which stimulated investments in specialty centers. Besides this, the UAE is becoming a major destination for people looking for cosmetic and plastic surgery as the country provide excellent results with economical costs. This significant demand for cosmetic procedures in the country will intensify the growth of healthcare industry in the United Arab Emirates by 2018.
In addition to this, the UAE government which accounts for nearly 70% of expenditure on healthcare services has been encouraging participation of private sector and development of public-private-partnerships in order to develop its infrastructure. This will ultimately impact the overall healthcare industry in Emirati region in coming few years.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.