EXECUTIVE SUMMARY
The UAE healthcare market has been growing at over 10% annually since over the past five years, with this level of growth projected to sustain over the 2019-2022 period. Expected improvements in the quality of healthcare provi- sion, together with rising demand for preventative care and digital medical services will help to fuel massive growth of the industry. Increased investor interest in emerging sectors such as the medical device market will also play a role in expanding the current 20.4 bn market, as will medical tourism and the roll-out of mandatory health insur- ance. The country’s Vision 2021 National Agenda aims to achieve a world-class healthcare system to help tackle and prevent lifestyle illnesses such as heart disease and diabetes that are prevalent in the region. Meanwhile, the UAE’s pharmaceutical sales are forecast to grow to US$ 3.84 bn by 2021 from US$ 2.62 bn in 2016. Dubai alone expects to attract US$ 2.5 bn in investments in the pharmaceutical industry over the next five years as it seeks to entice interna- tional players to open up factories in the emirate as part of a new 2030 industrial strategy. Pharmaceuticals repre- sented 16.2% of total healthcare spending in 2016 and are projected to represent 18% of healthcare expenditure by 2021.