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The Medical Device Market: UAE
Espicom Business Intelligence Ltd, Sep 2009, Pages: 102
Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Executive Summary
The UAE’s economy is heavily dependent on the price of oil. Per capita GDP is very high, ranked around 15th in the world, and in 2009 was estimated at US$35,760. Real GDP growth of just 1.3% is expected for 2009, but this projected to rise to 4.5% in 2010.
As a percentage of GDP, healthcare expenditure is low, but in per capita terms, spending is among the top 20 highest in the world. Overall health expenditure is estimated at US$5.4 billion in 2009, equal to 2.6% of GDP. Per capita spending is US$926.
The federal government has plans to introduce a national health insurance scheme throughout the country over the next three years. This scheme has already started in Abu Dhabi and Dubai.
A wide range of public health facilities are run by the Ministry of Health, including hospitals, Primary Healthcare Centres, School Health and Maternity & Child Health Units. In addition, there are facilities run by other public sector bodies, including the police and the armed forces. The private sector is far more active in the provision of primary care than hospital services.
The UAE is committed to improving its health sector and as such, is investing a significant amount in the construction and renovation of health facilities. In addition, in August 2007, the Ministry of Health announced details of the ‘2008-10 Strategic Framework’, which will focus on enhancing regulatory practises, improving the level of scientific, technical and administrative personnel focus and the upgrading of health facilities.
Imports account for an estimated 96.6% of the market in value terms and growth is expected to remain strong over the forecast period taking into account the country’s limited domestic production capability. The market, estimated at US$600 million in 2009, is projected to grow at an average 6.4%, reaching US$819 million in 2014.
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