The DHA’s health investment sector developed this year’s edition of the Dubai Health Investment Guide and highlighted key focus areas of investment until 2025 and beyond. The aim of the Dubai Health Investment Guide 2023 is to provide investors with detailed information on key priority areas of investment in health alongside a detailed overview of the health sector so that they can make viable investments.
Health investment in areas of need and future demand benefits investors, helps create a dynamic and robust health sector, and provides community members and visitors with access to the highest quality of specialised and accessible care.
Dr. Ibtesam Al Bastaki, Director of Investments and PPPs at DHA, highlighted that Dubai’s strategic location, investment-friendly climate, future outlook, diverse and growing population, the influx of medical tourists, support and guidance received by investors are some of the reasons that make the Emirate a favourable investment destination.
Al Bastaki said: “Investment facilitation and ease of doing business have resulted in increased FDI inflows into the country, thereby endorsing Dubai’s status of being a preferred investment destination amongst global investors. Despite COVID-19, we saw steady FDI inflows in the health sector.”
In 2021, the FDI inflows that Dubai attracted US$37.2 million in healthcare from countries such as USA, India, UK, France, Sweden and Japan, according to the Dubai’s Department of Economic Development. Al Bastaki highlighted that post-COVID-19 key areas of focus include innovation, digital health medical equipment, mental health, MedTech start-ups, urgent care, long-term care, rehabilitation and home care.
She said: “These are the key areas of focus for the next three to five years. In MedTech we are keen on attracting MedTech start-ups and companies in medical devices, diagnostics and digital health. In terms of digital health, the aim is to empower patients with as much convenience as possible by providing them with telemedicine services as well as empowering them by providing them with access to their medical information and devices that will help them monitor their health on a daily basis.
“Homecare is a service we want to particularly tailor for the ageing population, to provide them with care as well as regular timely follow-ups in the comfort of their homes.” She added that Dubai has seen tremendous growth in the health sector and that the sector continues to attract foreign direct investment.
Dubai has 4,482 private health facilities. In the last five years, the percentage growth of health facilities is about 45 per cent. Along with the growth in the number of healthcare facilities, Dubai has also witnessed an impressive 61 per cent increase in licensed medical professionals to reach 55,208 in 2022.
The DHA’s projections for 2023 and beyond estimate growth of 10 to 15 per cent for medical professionals and 3 to 6 per cent for facilities.
According to the latest Medical Tourism Index, Dubai ranks No. 1 in the Middle East and North Africa and No. 6 in the world for medical tourism, with the city ranking No. 5 globally on the sub-index of Quality of Facilities and Services. Dubai’s emergence as a significant player in the private healthcare sector is driven by its high standards and regulations, making it a popular destination for medical tourism thanks to high-quality healthcare.
Al Bastaki highlighted that streamlined and clear regulatory policies supported by online professional and facility license procedures have also greatly contributed to attracting both high-quality professionals and renowned international health facilities to Dubai.
She said the Dubai Health Investment Guide provides reliable and robust information on the demand for health services, supply, and capacity gaps to enable investments in strategic opportunities and specialised health services. This helps enhance the competencies of the overall healthcare sector in Dubai and increases awareness of the economic viability as well as helps attract foreign direct investment (FDI) and local investment.
This article appears in the Arab Health Daily Dose 2023. Read the full issue online today.