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Alpen Capital, the investment and banking consultancy company, expected that the current spending on health care in the UAE will record a compound annual growth rate of 7.4%, to reach 112.75 billion dirhams ($ 30.7 billion) by 2027, so that the UAE will outperform its counterparts from other Gulf countries. in terms of spending.
According to the “Alpen Capital” report, this growth in the country is supported by an increase in the application of compulsory health insurance, the prosperity of the medical tourism sector, the expansion of the population base (at a compound annual rate of 1.6% between 2022 and 2027), and the expansion of the medical sector, expected to grow the UAE’s share of the total Current healthcare spending in the region will increase by 22.7% in 2027, compared to 20.7% in 2022.
The report also predicted that the current healthcare spending in the UAE as a percentage of GDP will grow from 4.3% in 2022 to 5.0% in 2027.
The UAE has about 700 projects under development in the healthcare sector, with total investments estimated at 223.67 billion dirhams.
Alpen Capital launched its latest report on the healthcare industry in the GCC, which includes forecasts for the sector and current analysis of trends, growth drivers and challenges facing it.
According to the report, current healthcare spending in the region is expected to reach $135.5 billion (497.65 billion dirhams) by 2027, showing an annual growth rate of 5.4%, up from $104.1 billion (382.33 billion dirhams) in 2022. During the same period, current spending on healthcare is expected to increase at growth rates ranging from 4.4% to 7.4%.
According to Alpen Capital, current healthcare spending in the GCC countries is estimated to have grown at a compound annual rate of 9.5% between 2020 and 2022, and healthcare spending in the GCC countries is expected to reach $135.5 billion ( 497.65 billion dirhams) in 2027, registering a growth at a compound annual rate of 5.4% from 2022.
Samina Ahmed, Managing Director of Alpen Capital, said: “The healthcare industry in the GCC countries is expected to grow at a good pace as a result of improved economic activity, increased focus on preventive care and the imposition of compulsory health insurance, while digitization and partnerships between the public and private sectors have led to Making a tangible positive impact. The renewed demand for elective surgeries, the booming medical tourism sector and the primary demand for treatment of non-communicable diseases are likely to support growth, and we expect that the region will present a wide range of investment opportunities on the back of privatization initiatives and the increasing adoption of technology to create models alternative health care.