BWI: Higher Spending Capacity of Citizens Attracts Healthcare Organisations to the GCC, Finds Frost & Sullivan

Press release from Business Wire India
Source: Frost & Sullivan
Wednesday, July 04, 2012 04:24 PM IST (10:54 AM GMT)
Editors: General: Consumer interest; Business: Business services, Healthcare, biotechnology & pharmaceutical; Technology; Healthcare
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Higher Spending Capacity of Citizens Attracts Healthcare Organisations to the GCC, Finds Frost & Sullivan
Complimentary Analyst Briefing to be hosted on July 9, 2012 at 12:00 pm U.A.E Time will examine PPPs as the way forward in a market characterised by high entry barriers

Dubai, United Arab Emirates, Wednesday, July 04, 2012 -- (Business Wire India) -- Rapid urbanisation in the Gulf Cooperation Council (GCC) is placing considerable pressure on public services and infrastructure in urban centers, creating ample opportunities for the growth of the healthcare industry. The oil-driven economic boom in the GCC has increased disposable incomes and per capita spending, which, in turn, has raised the demand for healthcare services.

New analysis from Frost & Sullivan (http://www.healthcareIT.frost.com), Key Hospital Indicators in the GCC, finds that the total healthcare expenditure in the GCC in 2011 was estimated to be $46.12 billion and this is expected to reach $133.19 billion in 2018. The Healthcare Practice at Frost & Sullivan, a Global Growth Partnership Company, is pleased to host an Analyst Briefing on this research service on Monday, 9th July, 2012 at 12.00 p.m. UAE time.

According to Frost & Sullivan, healthcare expenditure in the GCC is projected to grow at a compound annual growth rate (CAGR) of 10.3 percent from 2010 to 2018 due to a combination of factors such as an expanding population base, higher incidence of lifestyle diseases, and deeper insurance penetration.

"The surge in medical tourism in this region and the escalating disease burden will create a need for 90,690 hospital beds by 2018," says Frost & Sullivan Healthcare Analyst. "However, opening up a healthcare facility in GCC countries involves numerous complicated processes, which deter possible foreign market entrants."

The GCC's healthcare industry is also pegged back by the lack of educated manpower in the region, as it lowers the availability of skilled healthcare givers. As the industry in the GCC is mostly regulated by the government; therefore, the need of the hour is to open the market to private healthcare organisation by easing the entry barriers and reducing the complexities of procedures.

Healthcare public-private partnerships (PPPs) have already proven to save governments as much as 25 per cent of healthcare costs. The United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) are the two forerunners in healthcare PPP deals in GCC region.

"Most PPP deals in GCC region are based on the build operate and transfer (BOT) system," noted Frost & Sullivan Analyst. "More PPP deals in the field of medical, nursing and paramedical colleges can also reduce the GCC's dependence on expatriate doctors and nurses and generate jobs for citizens."

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Click on the 'Register Here' tab, given above. This will direct you to the launch page of the Analyst Briefing. Press on the 'Attend' button; this will register you for the AB. Once you have saved the HTML page, click on it and save the event to your Calendar page.

Key Hospital Indicators in the GCC is part of the Healthcare & Life Sciences IT Growth Partnership Services program, which also includes research in the following markets: Key Trends and Indicators in European Healthcare Market and Key Trends and Indicators in European Hospital Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

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Key Hospital Indicators in the GCC
P583-48


CONTACT DETAILS
Tanu Chopra, Corporate Communications - Middle East and North Africa, Frost & Sullivan, +91 9820480089, tanu.chopra@frost.com
Deepshri Iyer, Corporate Communications - Middle East and North Africa, Frost & Sullivan, +91 (22) 66072038, deepshrii@frost.com
Nimisha Iyer, Corporate Communications - Middle East, North Africa and South Asia, Frost & Sullivan, +91.98200 50519, niyer@frost.com

KEYWORDS
CONSUMER, BUSINESS SERVICES, HEALTHCARE, TECHNOLOGY, HEALTHCARE

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