GCC healthcare sector 'to triple in value by 2020'

20/01/2011 - Dubai Investment News Posted by Bob Brunskill
GCC healthcare sector 'to triple in value by 2020'

The healthcare sector in the Gulf Cooperation Council (GCC) region is forecast to triple in worth over the next decade from $18 billion currently to $55 billion by 2020, according to a report by Kuwait Finance House Research.

It was also revealed that an estimated $10 billion worth of healthcare projects are planned or underway in the GCC, with more than 200 new hospitals announced or are under construction with a cumulative capacity of up to 27,009 beds, most of which are due to be delivered in 2015.

Commenting on the findings, ICT networking solutions firm Brocade Communications Systems argued that major network upgrades, such as those that support next-generation wired and wireless healthcare applications, will be needed to facilitate this rapid growth in healthcare.

"It's no wonder then that information technology spending in the UAE is expected to grow from around $3.1 billion in 2008 to nearly $4.7 billion by 2013, according to a report in 2009 by Business Monitor International and this is indicative of the trend in the Middle East as a whole," it said.

"The modernisation of healthcare systems is seen as a hub for growth and a condition for the long-term sustainability of public health systems."ADNFCR-2019-ID-800354426-ADNFCR