Healthcare in numbers
The Mena Hospital Projects Forum will focus on the growing opportunities in the $243.6 billion Middle East and North Africa (Mena) healthcare sector that needs additional hospital beds, doctors, nurses, paramedics and pharmacists.
Collectively healthcare projects under execution in the Middle East and Africa region are valued at $45 billion, followed by pre-planning and planning schemes worth $23.8 billion, according to a report by MEED Projects, a regional construction project tracker.
The high-profile two-day international conference takes place from June 9 to 10, 2022 at a time when the healthcare sector in the Middle East and North Africa (Mena) region is witnessing a phase of significant growth due to increased demand for healthcare services. A recent report by Fitch Solutions suggests that the Mena region’s healthcare market is projected to grow at a compound annual growth rate (CAGR) of 11.7% from $185.5 billion in 2019 to $243.6 billion in 2023.
Demand for healthcare
More than 250 delegates including senior government officials, project owners, developers, healthcare industry experts and key stakeholders will participate at the forum in Dubai, UAE.
Urbanisation, ageing demographics and a rising burden of chronic diseases will rapidly boost the demand for healthcare in the Mena region, it said. The growth in the healthcare sector is driven by the private sector as governments trying to diversify their economies and reduce vulnerability to oil price volatility.
Due to these factors, the private sector is likely to take on some of the healthcare burden, including projects through public-private partnerships.
Saudi Arabia’s plans
Saudi Arabia plans to set up 20,000 hospital beds and 224 health centres across the kingdom in line with its Vision 2030 and the projects are worth SR48 billion ($13 billion).
“The healthcare industry in the Mena region is growing at a rapid pace due to a number of socio-economic factors, including the number of ageing population, the spread of mandatory health insurance, increasing purchasing power and affordability. Due to these factors, developers and healthcare service providers are building new hospitals to treat a growing number of patients across the region, led by the GCC countries,” Leila Masinaei, Managing Partner, Great Minds Event Management – organiser of the Mena Hospital Project Forum, says.
“Besides, increased medical tourism is attracting more and more patients to the Middle East as the region is trying to become a medical tourism hub in the world. The Gulf countries are keen to diversify their economy away from hydrocarbon and are now developing their healthcare sector to provide world-class medical care to citizens, promote medical tourism and move away from government-subsidised healthcare to private operators.”
Most GCC residents used to seek treatment in India, Singapore and Thailand. However, the UAE and other Gulf countries are now trying to reverse that trend by promoting medical tourism an economic driver in the coming years.
UAE currently spends around 4% of its GDP on health, and total healthcare spend for the Gulf region is expected to reach $89 billion in 2022, up 50% from 2013, according to a recent KPMG report.
The healthcare sector nowadays is witnessing a massive growth globally, especially in the Middle East and North Africa region, due to the population growth, the outbreak of the Covid-19 pandemic, and the governments’ future visions focusing on the improvement of quality of life for their citizens.
Role of governments
This exclusive conference will feature key upcoming projects in the region highlighting the role of the governments, healthcare authorities and private healthcare providers in ensuring a better future for the healthcare sector and improving the quality of life in the region.
More than 30 speakers, representing 30+ sponsors and exhibitors from 15 countries will be discussing new hospital projects and how this would benefit the healthcare service providers and suppliers. The two-day conference will be complimented with an exhibition, business-to-business meetings, VIP Majlis, media conclave, a media zone to conduct exclusive interviews, issue news announcements and live broadcast opportunities through social media outlets for event sponsors and participants at the conference.
The conference will shed light on new technology in healthcare, project intelligence, business opportunities for healthcare operators, as well as changes in the region’s healthcare landscape will be debated. Some of the key themes that will come up for discussion, include – Mena region healthcare infrastructure development vision and plans; hospital new project showcases and ongoing project updates; hospital expansion, refurbishment, and digitation projects and overview of the latest and advanced hospital technologies, equipment and furniture, etc.-- TradeArabia News Service