GCC healthcare sector poised for significant investments in digital health to kick-start recovery of industry post COVID-19

GCC healthcare sector poised for significant investments in digital health to kick-start recovery of industry post COVID-19

GCC healthcare sector poised for significant investments in digital health to kick-start recovery of industry post COVID-19



Joint research conducted by Mashreq, one of the leading financial institutions in the UAE, and Frost & Sullivan, a growth strategy consulting and research firm, reveals that Gulf Cooperation Council (GCC) healthcare service providers are poised for significant investments in digital health to kick-start the recovery of the industry post COVID-19. 

The research report, titled GCC Healthcare: A Glance into the Future, found that revenue in the GCC healthcare industry will contract only modestly this year due to the pandemic. In 2019, revenue across the sector (including Pharma, Medtech, hospitals etc.) totaled $38.45 billion, with the expectation that it is likely to be almost flat for 2020 between $36.8 billion and between $37.9 billion as large declines in the medical imaging equipment market and medical technologies market are offset by growth in Pharma and Digital Health investments.

However, the report found that the pandemic has catalyzed GCC healthcare service providers to ramp up investments in digitization and telehealth, in an effort to drive future growth and improve operational efficiencies post COVID-19. Annual investment in digital infrastructure is expected to increase by anywhere between $500m to