UAE healthcare market to have risen from US$3.2 billion in 2005 to US$11.9 in 2015

Click here: Zawya.com – UAE healthcare market to have risen from US$3.2 billion in 2005 to US$11.9 in 2015
In line with the on-going preparation of the Dubai Chamber of Commerce & Industry to organize and host the Dubai-Hamburg Business Forum 2007, due to be held on October 23-24, the Chamber prepared a number of studies on certain economic sectors which will be the pivotal issues to be discussed by the participants of the Forum, in order to explore areas of anticipated cooperation between the businessmen and investors from Dubai and Hamburg in Germany.These studies reflect the development both cities have witnessed in these sectors which include aviation, banking & finance, foreign trade, maritime, logistics, energy and healthcare.

…Dubai healthcare sector has grown rapidly over the last decade. However, currently accounts for nearly 6 percent of the Dubai non-oil gross domestic product. Changes in medical & computer technology, the structural delivery of care including managed care, and demographics have placed health care among the most dynamic areas of the economy. The sector is predicted to grow by 14% over the coming 5 years. ..Dubai’s pharmaceutical market was estimated at AED 1.1 billion in 2005. The value of pharmaceuticals in Dubai’s exports in 2005 was AED 56. 4 million, while the imports were more than AED 1.2 billion. About AED 179 million of these imports were re-exported to other countries…By 2015 predictions based on a variety of sources, expect the UAE healthcare market to have risen from US$3.2 billion in 2005 to US$11.9 in 2015. It is projected that as domestic per capita GDP increases, healthcare spending will increase by US$1.7 billion, but then by a further US$7 billion as the increased wealth of the country pushes up demand for healthcare….Per-capita expenditure, at around US$150 in 2004, is among the highest in the region. The UAE has a strong branded product drug market, largely as a result of its traditional wealth and resultant preference for the latest medicines; sector spending is estimated to have accounted for 95% of the market in 2004.

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