Healthcare, in its quality, accessibility and affordability, is a vital parameter to judge the value of living in a certain geography. A rapid growth in the population of the Middle East is creating opportunities as well as challenges. One of the biggest challenges for the region is to manage the growing need of healthcare supply and demand. The Middle Eastern Governments have set various strategies and visions to strengthen the healthcare sectors in the region. New health insurance schemes and various technologies have come up and have been implemented by the governments of Bahrain, Saudi Arabia and the UAE. With the encouragement towards active private sector participation, there is a huge expansion anticipated in the following years to keep up pace with the growing requirement for the nationals as well as expats in the region. The GCC healthcare market is projected to grow at a 12.1 percent compound annual growth rate (CAGR) from an estimated $40.3 billion in 2015 to $71.3 billion in 2020 and is poised to cross $100 billion mark by 2023 and much of the impact is due to the increase in the population and rising cost of quality treatment. With the digital trends in the Healthcare sector, M-health technologies are set to be key enablers of digital transformation process in the Middle East as the future of the mobile health (m-Health) industry is very promising.
Bahrain enjoys a host of local practitioners in comparison to other GCC countries which are dependent on expats for quality healthcare. The healthcare market in Bahrain has been growing at an annual average rate of 12.2 percent, from an estimated USD 1.1 billion in 2015 to USD 2.0 billion in 2020. The demand for hospital beds in the countrywas projected to grow at 2 percent annually between 2015 and 2020 to over 2,700 beds. As the population dynamics of the Kingdom of Saudi Arabia has been forecasted to shift between the ages of 40 and 59 increasing by 1.5 times and population over the age of 60 increasing more than 3 times from 2017 to 2035, it will eventually lead to the high demand of advance and modern healthcare facilities. According to latest figures from US-based consultancy Aon Hewitt, the healthcare sector in the Kingdom of Saudi Arabia (KSA) is expected to grow at a compound annual growth (CAGR) rate of 12.3% by 2020. Supported by the healthcare goals outlined in the government’s Vision 2030 and the National Transformation Program (NTP), the Ministry of Health (MoH) is expected to spend close to US$71 billion in the five-years ending in 2020.
Bricsa Consulting understands the need of technology implementation in Healthcare sector in the Middle East Region and hence developed an agenda which focuses on the immense opportunities in the region while keeping in mind the opening it will provide to the private sectors in order to enter the market. 2nd Annual Middle East Healthcare and Technology 2019 is a two-day closed-door program that will bring together key decision-makers from both public and private sectors across the world. We look forward to welcoming the key decision makers to enable this programme to be a successful effort towards a sustainable future.
Highlights of the Program
Long term strategic plans of the Middle Eastern countries in healthcare sector
Understanding the regulations around the medical devices and medicines in various Middle Eastern markets
To recognize the role of private sector in developing Middle Eastern healthcare sector
Inception of technological innovations in medical devices and hospitals
Financing the healthcare sector in the Middle East