Obesity, cancer, diabetes on the rise in GCC: Report

Lifestyle-related diseases such as obesity, diabetes, hypertension, cancer, and heart ailments are on the rise in GCC, thanks to sedentary lifestyle and penchant for packaged and fast food.

Interestingly, this according to the GCC Healthcare Industry report published by Alpen Capital has also resulted in the GCC countries injecting huge funds as well as encouraging private sector participation to develop healthcare sector.

The report, however, warns that the rise in lifestyle-related diseases is likely to add to healthcare expenses as well as augment the need for specialized care centres and doctors.

Consequently, most of the GCC governments had introducing mandatory health insurance, which is also expected to boost the overall healthcare spending.

As of now increased cost of medical treatments in the GCC when compared to the developed as well as emerging medical destinations are leading several local patients in the GCC to travel abroad to seek treatment.

Not a healthy future

GCC healthcare market, according to Alpen Capital, is projected to grow at a 12.1 per cent CAGR from an estimated US$40.3 billion in 2015 to US$71.3bn in 2020. An increase in the population and rising cost of treatment are the primary factors aiding this growth.

From an estimated US$24.0bn in 2015, the outpatient market is forecasted to reach US$42.4bn in 2020. The inpatient market is anticipated to grow from US$16.4bn to US$28.9bn during the same period.

The healthcare market in each GCC country is anticipated to expand by 11pc-13pc between 2015 and 2020 in terms of annual average growth rates.

The demand for number of hospital beds in the GCC region is projected to grow at a 2.3pc CAGR from an estimated 101,797 beds in 2015 to 113,925 beds in
2020. 

The Saudi Arabian healthcare market is forecasted to reach US$27.4bn in 2020, registering a CAGR of 11.0pc from 2015.The healthcare market in the UAE is projected at US$19.5bn in 2020, indicating an annual average growth of 12.7pc from 2015.