Healthcare Industry Outlook for the Gulf Cooperation Council Countries, Forecast to 2020

Healthcare Industry Outlook for the Gulf Cooperation Council Countries, Forecast to 2020

Pharmaceuticals and Digital Health Account for Around 75% of Revenue and Drive Growth

RELEASE DATE
31-Jan-2020
REGION
South Asia, Middle East & North Africa
Research Code: PAB1-01-00-00-00
SKU: HC03248-SA-MO_23909

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Description

GCC accounts only for 1.2% of the global HC revenue, but it is the region that saw the highest growth rate in the last decade. GCC has opened doors to global suppliers and moved beyond US imports, which is likely to be the game changer in the 2020s.

Technology and digitization are in higher demand than ever before because of higher awareness and the shortage of skilled resources. The growth of domestic manufacturing and investment in start-ups will open doors for the competition and make healthcare affordable and available for all. The development of a sustainable supply chain in the 2020s will drive the penetration and adoption of healthcare products in the region.
The region promoted local production of generics in 2019, thereby increasing the pharmaceutical revenue in the region by 5% to 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 is likely to see a double-digit growth rate. UAE, KSA, and Kuwait were key contributors for this growth. AI that enables imaging services has seen high adoption from the last quarter of 2018. We expect it to be the key focus for tertiary hospitals. GCC digital health market is likely to grow significantly to capture 4% to 6% of the global market. Medtech vendors have grown their market by supporting the private sector’s growth in the region, and it is only likely to grow further with a 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 in this rapidly changing industry. The base year for the study is 2018; the forecast is for 2020.

Key Issues Addressed

  • What is the size of the market driven by the 5 key segments: 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 the segments that are likely to have an impact on market growth? Who are the participants in this ecosystem?  Which are the key companies to watch? What are the companies and start-ups which are set to disrupt the ecosystem?
  • What are the strategies that companies have to adopt to meet the future needs of the industry?
  • What is the revenue contribution of each country to the 5 key segments? 
  • What is the opportunity potential for technology across various healthcare settings?

Table of Contents

Top Trends in 2019

Top Trends Beyond 2019

Research Scope and Segmentation

Key Findings

Revenue Forecast—Global Healthcare Market

Top 6 Predictions for GCC Healthcare Industry

Prediction 1—With Government Impetus, Local Pharma Production will Increase by 5.0% to 10.0%, to about $ 1.2 billion, Leading to More MNC-domestic Collaborations

Prediction 2—Next-generation Sequencing Testing Awareness and Adoption will Increase

Prediction 3—Artificial Intelligence for Med Imaging will See Adoption in UAE. Saudi Arabia to Follow Suit

Prediction 4—Digital Health will be the Fastest Sector to Grow in GCC

Prediction 5—Medtech Revenue from Private Sector is Set to Rise Significantly

Prediction 6—Hospital Bed Density is Set to Increase by 22,500 Beds

Pharmaceuticals & Biotechnology

In-vitro Diagnostics

Medical Imaging Equipment

Digital Health

Medical Technologies

Top Pharmaceuticals & Biotechnology Growth Trends

Top In Vitro Diagnostics Growth Trends

Top Medical Imaging Growth Trends

Top Digital Health Growth Trends

Top Medical Technology Growth Trends

Growth Opportunity 1—Promoting Overall Wellbeing

Growth Opportunity 2—Big Data for Value-based Care

Strategic Imperatives for Success and Growth

Key Conclusions

Legal Disclaimer

List of Exhibits

Market Engineering Methodology

Related Research
GCC accounts only for 1.2% of the global HC revenue, but it is the region that saw the highest growth rate in the last decade. GCC has opened doors to global suppliers and moved beyond US imports, which is likely to be the game changer in the 2020s. Technology and digitization are in higher demand than ever before because of higher awareness and the shortage of skilled resources. The growth of domestic manufacturing and investment in start-ups will open doors for the competition and make healthcare affordable and available for all. The development of a sustainable supply chain in the 2020s will drive the penetration and adoption of healthcare products in the region. The region promoted local production of generics in 2019, thereby increasing the pharmaceutical revenue in the region by 5% to 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 is likely to see a double-digit growth rate. UAE, KSA, and Kuwait were key contributors for this growth. AI that enables imaging services has seen high adoption from the last quarter of 2018. We expect it to be the key focus for tertiary hospitals. GCC digital health market is likely to grow significantly to capture 4% to 6% of the global market. Medtech vendors have grown their market by supporting the private sector’s growth in the region, and it is only likely to grow further with a 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 in this rapidly changing industry. The base year for the study is 2018; the forecast is for 2020.--BEGIN PROMO--

Key Issues Addressed

  • What is the size of the market driven by the 5 key segments: 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 the segments that are likely to have an impact on market growth? Who are the participants in this ecosystem?  Which are the key companies to watch? What are the companies and start-ups which are set to disrupt the ecosystem?
  • What are the strategies that companies have to adopt to meet the future needs of the industry?
  • What is the revenue contribution of each country to the 5 key segments? 
  • What is the opportunity potential for technology across various healthcare settings?
More Information
No Index No
Podcast No
Author Koustav Chatterjee
Industries Healthcare
WIP Number PAB1-01-00-00-00
Is Prebook No
GPS Codes 9600-B1,9612-B1,9A52-B1,99BB-B1,99BF-B1,9A4B-B1,99BE-B1,9611-B1,9614-B1