QATAR'S HEALTH­CARE SEC­TOR SET TO GROW

Qatar Today - - DEVELOPMENT > VIEWPOINT -

Devel­op­ment of the health­care sec­tor has taken cen­tre stage in the GCC coun­tries, as they wit­ness an era of de­mo­graphic tran­si­tion ac­com­pa­nied by the ris­ing preva­lence of life­style-re­lated dis­eases. In or­der to ease the grow­ing pres­sure on the health­care sys­tem, the GCC gov­ern­ments are in­ject­ing huge funds as well as en­cour­ag­ing pri­vate sec­tor par­tic­i­pa­tion to build hos­pi­tals and clin­ics, up­grade the ex­ist­ing in­fra­struc­ture, and match the qual­ity of ser­vices of­fered in de­vel­oped coun­tries. They are also in­vest­ing heav­ily in tech­no­log­i­cal ad­vance­ments as well as rolling out manda­tory health in­sur­ance schemes in all the coun­tries to fur­ther ac­cel­er­ate the growth of the health­care sec­tor. Qatar is no ex­cep­tion.

The Qatari health­care mar­ket is ex­pected to grow at a Com­pound An­nual Growth Rate (CAGR) of 12.7% from 2015 to reach $8.8 bil­lion (QR32 bil­lion) in 2020. The out­pa­tient mar­ket is pro­jected at $5.9 bil­lion (QR21.5 bil­lion) by the end of the fore­cast pe­riod, while the in­pa­tient mar­ket is fore­casted to touch $2.9 bil­lion (QR10.5 bil­lion). The coun­try's hospi­tal bed re­quire­ment is likely to grow at a 2.9% CAGR be­tween 2015 and 2020 to nearly 3,300 beds.

DOU­BLE-DIGIT GROWTH IS ON THE BOOKS FOR THE COUN­TRY'S BOOM­ING HEALTH­CARE MAR­KET WITH SUS­TAINED GOVERNMENTLED IN­VEST­MENTS AND IN­CREASED PRI­VATE SEC­TOR PAR­TIC­I­PA­TION.

The Qatari pop­u­la­tion is fore­casted to grow at a CAGR of 2.9% be­tween 2015 and 2020. A rise in life­style-re­lated dis­eases is likely to add to health­care ex­penses as well as aug­ment the need for spe­cialised care centres and doc­tors. As the health­care costs grow in line with the in­creas­ing pop­u­la­tion, most of the GCC gov­ern­ments, in­clud­ing Qatar, have in­tro­duced manda­tory health in­sur­ance and this in­creased cov­er­age is likely to drive the health­care mar­ket.

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