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Frost & Sullivan report: Healthcare Industry Outlook for the Gulf Cooperation Council Countries, Forecast to 2020

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Pharmaceuticals and digital health account for around 75 per cent of revenue and drive growth

GCC accounts only for 1.2 per cent 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 U.S. imports, which is likely to be the game-changer in the 2020s.

Technology and digitisation 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 per cent to 10 per cent 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. The 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. It is expected to be the key focus for tertiary hospitals. GCC digital health market is likely to grow significantly to capture 4 per cent to 6 per cent 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.

Frost & Sullivan’s ‘Healthcare Industry Outlook for the Gulf Cooperation Council Countries, Forecast to 2020’ has been developed to support investors, healthcare companies, and other GCC organisations 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? 
  • What are the strategies that companies have to adopt to meet the future needs of the industry?
  • What is the opportunity potential for technology across various healthcare settings?

Download the report here.

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