Report: GCC healthcare sector to grow 9% annually

25 Mar 2010

(MENAFN) A report issued by Alpen Capital showed that the health care market in the GCC is expected to grow at about 9 percent annually to reach $47 billion to $55 billion by 2020, due to solid demand, Gulf News reported.

The report said that last year, 46 million medical treatments were conducted across the region, of which 91 percent were outpatients, generating $18 billion in revenue.

Despite massive private sector investment in clinics and hospitals, a large number of people still opt for other countries for treatment and health check-ups.

The GCC may require in excess of 25,000 additional beds by 2020 to address the growing demand for in-patient treatments. The largest share of the demand increase is accounted for by Saudi Arabia, followed by the UAE.

Despite some significant project delays, particularly in Dubai and Oman, the GCC has a healthy hospital pipeline ensuring robust near-term supply. More than 200 hospital projects have been announced or are under construction with cumulative capacity of up to 27,000 beds, most of which are due to be delivered by 2015.

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