Value of Middle East’s healthcare sector estimated at $74 billion
The Middle East’s healthcare sector is emerging as one of the fastest-growing and most attractive markets for the world’s hospital equipment and services companies, with an estimated value of US $74 billion, according to executives at the region’s leading medical exhibition and conference.
Executives at Arab Health have reported that the 2005 show is expected to be larger by 25 percent than this year’s, with over 500 companies from 34 countries already registered for the event.
Re-bookings are already 50% higher than last year, and major country groups have already sold out their space allocation. For the first time ever, Arab Health will occupy all eight halls plus the Sheikh Rashid Hall of the Dubai International Exhibition Centre.
Global interest in the region’s healthcare sector is being inflated by a number of major medical projects within the Middle East, including Dubai Healthcare City and the International Medical Center (IMC) in Jeddah; an expanding population; and the emergence of countries as potential destinations for healthcare tourism.
“The Middle East’s healthcare sector is expanding rapidly, and recognition of the impact this will have on both the economies and the lives of the people of this region is reflected in the ongoing success of Arab Health, now in its thirtieth year,” said John Hassett, IIR exhibitions director, healthcare division.
One of the consequences of this exponential growth has been a growing demand for a wider variety of dedicated medical training programs, to help sustain a sufficiently large pool of physicians and other paramedical staff to meet the needs of the region.
Part of the reason for widespread interest in Arab Health within the Middle East’s medical community, said Hassett, has been its facility to offer accreditation to doctors that participate in the Congresses that run alongside the exhibition. (menareport.com)
© 2004 Mena Report (www.menareport.com)
- Estimated value of UAE printing industry to reach AED 10 Billion
- Middle East food service market’s annual value estimated at over USD 31 billion
- Saudi Islamic finance assets estimated at $94 billion
- “Regional Hardware & Tools Sector Estimated to be worth AED 551 billion” - Melanie Beese, Group Exhibitions Manager, Hardware and Tools Middle East,