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Total market to grow by 6.5% in 2019 with Pharma and Digital Health contributing 75.5% of total revenue
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GCC accounts only for 1.2% of the global HC revenues, but is the region to have the highest growth rate in the last decade globally. GCC has opened doors for global suppliers and moved beyond the US imports, which is likely to be the game changer for growth in 2020s. Technology and digitization in high demand than ever before due to the increased awareness amongst population and shortage of skilled resources. Growth of domestic manufacturing and investment in start-ups will open doors for competition and make healthcare affordable and available for all. Development of a sustainable supply chain in 2020s will drive penetration and adoption of healthcare products in the region.
In 2019, the region promoted local production of generics, thereby increasing the Pharma revenue in the region by 5%-10% annually. This is likely to have been driven by KSA and UAE. In the IVD market, NGS technology will be the key driver and likely to have a double digit growth rate. UAE, KSA and Kuwait were key contributors for this growth.
AI enables imaging services has seen high adoption from last quarter of 2018. We expect it to be the key focus for tertiary hospitals. GCC digital health market is likely to growth significantly to capture 4%-6% of global market. Medtech vendors have grown their market by supporting the private sector growth in the region and it is only likely to grow further with higher double digit growth rate.
This study has been developed to support investors, healthcare companies, and other GCC organizations to understand the growth potential, opportunities. The base year for the study is 2018 and have forecast period to 2018 to 2020 in this changing industry in GCC.
Key Questions this will answer:
• How large is the market for healthcare sector driven by the 5 key segments including Pharma, IVD, medical devices, medical imaging and digital health in the region? What are some of the trends that are shaping up the market and segments and likely affect market growth?
• Who are the participants in this ecosystem, which are the key companies to watch? What companies/start-ups is expected to disrupt the ecosystem?
• What strategies would companies have to adopt to meet the future needs of the industry?
• What is the revenue contribution by each of the countries for each of segment Pharma, IVD, medical devices, medical imaging and digital health?
• What is the opportunity potential by technology across different types of healthcare settings?
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