Arab News, Tue, Jan 31, 2024 | Rajab 19, 1445
AH
Healthcare spending in UAE to hit $34bn by 2027: DHCC report
RIYADH: Healthcare spending
in the UAE is expected to reach 126 billion dirhams ($34 billion) by 2027,
according to official projections.
The report, which was released by the Dubai Healthcare City Authority during the
Arab Health Conference on Jan. 29, states that public sector spending in the
healthcare division will account for 104 billion dirhams by 2027, representing a
compound annual growth rate of 7.5 percent.
Private sector spending will also hit 22 billion dirhams during the same period,
signifying a CAGR of 8.8 percent, state news agency WAM reported.
The analysis noted that Dubai Healthcare City has evolved as the sector’s
investment hub in the Emirates. The free zone’s turnover is expected to increase
significantly between 2020 and 2024, at an estimated CAGR of 16 percent.
The rise in investments in DHCC is aligned with the Emirates’ vision to serve a
projected population of 5.8 million by 2040.
“We are constantly striving to ensure collaborations to extend health care
services and attract investments that directly contribute to achieving the goals
of the Dubai 2040 Urban Master Plan,” said Chief Financial Officer at DHCA,
Allae Al-Manini.
He added: “Our commitment extends to developing strategic partnerships,
establishing community health clinics and pioneering innovative co-living
concepts. As the healthcare landscape continues to evolve, we remain at the
forefront, exemplifying unparalleled growth and dedication to creating a
holistic healthcare and wellness ecosystem.”
The report added that the workforce operating within DHCC increased from 10,000
in 2021 to 11,500 in 2024.
DHCC’s operating ecosystem also has 481 registered facilities, including
advanced diagnostic procedures, specialized treatments, surgical procedures and
the first Russian clinic in Dubai – Kandinsky.
The newly released report also highlighted DHCC’s ongoing expansion of Phase 2,
which is designed to complement the healthcare ecosystem with preventive care,
wellness and urban lifestyle.
Encompassing approximately 22 million sq. feet, Phase 2 of this project has
attracted strategic investments worth 1.03 billion dirhams from 2019 to date.
Arab Health Conference is touted to be one of the largest healthcare events in
the Middle East region.
The event began in Dubai on Jan. 29 and will run through Feb. 1.