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Higher Spending Capacity of Citizens Attracts Healthcare Organisations to the GCC, Finds Frost & Sullivan


July 4, 2012 - Dubai, United Arab Emirates

Rapid urbanisation in the Gulf Cooperation Council (GCC) is placing considerable pressure on public services and infrastructure in urban centers, creating ample opportunities for the growth of the healthcare industry. The oil-driven economic boom in the GCC has increased disposable incomes and per capita spending, which, in turn, has raised the demand for healthcare services.

New analysis from Frost & Sullivan (http://www.healthcareIT.frost.com), Key Hospital Indicators in the GCC, finds that the total healthcare expenditure in the GCC in 2011 was estimated to be $46.12 billion and this is expected to reach $133.19 billion in 2018. The Healthcare Practice at Frost & Sullivan, a Global Growth Partnership Company, is pleased to host an Analyst Briefing on this research service on Monday, 9th July, 2012 at 12.00 p.m. UAE time.

According to Frost & Sullivan, healthcare expenditure in the GCC is projected to grow at a compound annual growth rate (CAGR) of 10.3 percent from 2010 to 2018 due to a combination of factors such as an expanding population base, higher incidence of lifestyle diseases, and deeper insurance penetration.

“The surge in medical tourism in this region and the escalating disease burden will create a need for 90,690 hospital beds by 2018,” says Frost & Sullivan Healthcare Analyst. “However, opening up a healthcare facility in GCC countries involves numerous complicated processes, which deter possible foreign market entrants.”

The GCC’s healthcare industry is also pegged back by the lack of educated manpower in the region, as it lowers the availability of skilled healthcare givers. As the industry in the GCC is mostly regulated by the government; therefore, the need of the hour is to open the market to private healthcare organisation by easing the entry barriers and reducing the complexities of procedures.

Healthcare public-private partnerships (PPPs) have already proven to save governments as much as 25 per cent of healthcare costs. The United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) are the two forerunners in healthcare PPP deals in GCC region.

“Most PPP deals in GCC region are based on the build operate and transfer (BOT) system,” noted Frost & Sullivan Analyst. “More PPP deals in the field of medical, nursing and paramedical colleges can also reduce the GCC’s dependence on expatriate doctors and nurses and generate jobs for citizens.”

To attend this complimentary Analyst Briefing session, click here — REGISTER HERE.

How will this work:

Click on the ‘Register Here’ tab, given above. This will direct you to the launch page of the Analyst Briefing. Press on the ‘Attend’ button; this will register you for the AB. Once you have saved the HTML page, click on it and save the event to your Calendar page.

Key Hospital Indicators in the GCC is part of the Healthcare & Life Sciences IT Growth Partnership Services program, which also includes research in the following markets: Key Trends and Indicators in European Healthcare Market and Key Trends and Indicators in European Hospital Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

-- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including research, analysis, strategy, vision, innovation and implementation.

-- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Key Hospital Indicators in the GCC
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Source: Business Wire India

BusinessWireIndia

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