Check out all the pharmaceuticals UAE statistics in 2022 you need listed down below.
In 2020, the UAE pharmaceutical market size was valued at $3.5 billion.
Its medical devices market size was valued at $2.4 billion, expected to grow at a CAGR of more than 3% during 2022-2027.
From 2016 to 2025, its health expenditure is expected to rise to US$27.78 billion, with a CAGR of 6.1%.
By 2025, the government’s total health expenditure will fall to 60.7% of the market share.
The UAE has one of the most advanced healthcare infrastructures in the world. Its hospitals and clinics have top-notch medical instruments and equipment often sourced from US corporations. During the COVID-19 pandemic, the government’s response has been lauded as swift, decisive, and among the best in the world in handling the crisis.
Below, we list statistics that give you insight into where the industry is now and where it’s headed.
Current Value of UAE Pharmaceutical Market
The UAE pharmaceutical market size was valued at $3.5 billion in 2020. In 2021, its medical devices market size was valued at $2.4 billion, expected to grow at a CAGR of more than 3% during 2022-2027.
Pharmaceutical Expenditure and Revenues in 2022
The UAE’s revenue from “human health and social work activities” is forecast to go up to US$5.9 billion by 2024.
During the years 2016 to 2025, health expenditure is expected to rise to AED 101.94bn (US$27.78 billion), with a CAGR of 6.1%.
The private sector will also have an increased market share by 2025 with the government’s encouragement of private sector investment. Because of this, the government’s total health expenditure will fall from 71.3% (2015) to 60.7% (2025).
Major private healthcare companies in the UAE include Al-Noor Medical Company, VPS Healthcare, Tumbay group, Al-Zahra Group, Belhoul Lifecare, Emirates Healthcare, Mediclinic Middle East, Aster DM Healthcare, Gulf Healthcare International, Gulf Medical Projects Company, Zulekha Hospital, Saudi German Hospital Group, and Aster DM Healthcare.
Government Initiatives by 2030
The government of the UAE will transform the pharmaceutical industry. With the Dubai Industrial Strategy 2030 and the Abu Dhabi Vision 2030 in sight, the pharmaceutical industry will experience disruptions, especially technological, over time.
In 2022, 8.4% or around US$1.33 billion of the UAE government’s federal budget amounting to US$15.8 billion (AED 58.931 billion) is dedicated to healthcare.
The UAE’s pharmaceutical and healthcare industry is one of the fastest in the world in terms of embracing technological advancement.
With the private sector competing for market share, technological adoption helps some companies make an impact and set themselves apart.
In 2022, McKinsey surveyed KSA and UAE consumers and found that they have high levels of interest and awareness in digital-health service technologies.
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