The Emirates’ health sector is expected to record a compound annual growth rate (CAGR) of 7.5 percent over the next five year. It is reported that sales are expected to touch the $10.7 billion-mark next year. The reports are produced by the said Dubai Chamber of Commerce and Industry.
The private healthcare sector will stay ahead of the public healthcare sector in terms of spending over the next five years due to a surge in market activity because of privatisation of hospitals and compulsory healthcare insurance. That said, the Emirates will see significant growth in healthcare expenditure next year as additional resources are required to restart activities that are currently being halted due to the pandemic outbreak.
The reports by Dubai’s Chamber said the government of the Emirates actions against Covid-19 to contain the virus including the use of smart tech will bolster the chances of a rebound in medical tourism and attract foreign medical tourists who are seeking treatment.
Furthermore, it is indicated that the medical tourism sales in the Emirates are expected to touch the DH 8.4-billion-mark next year and grow by 17.1 percent CAGR between 2021 and 2025. The Emirates ranks 6th out of 46 destinations in its Global Medical Tourism Index 2020-2021. The reports are produced by the International Healthcare Research Centre (IHRC). The pandemic has driven the growth of the telehealth sector although it was available prior to the beginning of the pandemic.
The pandemic has walloped global industries in unprecedented ways.