The Healthcare Exhibition is a showcase of the latest healthcare and medical products, services, equipment and technology, top-of-the-line hospital and medical infrastructure, as well as pharmaceutical products and services.
AN OVERVIEW OF OMAN'S HEALTH AND HEALTHCARE MARKET
There is an ever-growing demand for health and healthcare services and products resulting from the rapidly rising population. The government's Health Vision 2050 is designed to meet the sector's demand by focusing on providing higher-quality services, expanding public medical facilities, restructuring medical education, investing in human resources, increasing private sector involvement and participation, and boosting healthcare spending.
Oman's continuing reliance on imports for the bulk of the country's requirement of medicines, pharmaceuticals and surgical consumables opens up promising opportunities for private sector and foreign investment.
Oman's health and healthcare industry is one of the priority sectors under the government's 9th Five-Year Plan (2016-2020) and identified as a potential sector for foreign direct investment. It is seen to be a key contributor to the country's GDP.
The Ministry of Health's planned current and planned health projects, which includes international medical cities, is seen to place Oman as the next medical hub in the region.
INDUSTRY FACTS AND FIGURES
- Healthcare expenditure is expected to grow at a CAGR of 9.1 per cent to US$ 4.9 billion in 2022. (GCC Healthcare Industry Report, Alpen Capital)
- The hospital be requirement is anticipated to grow at a CAGR of 3.2 per cent through 2022 to accommodate the growing patient base.
- Oman spends on average about US$ 260 million annually towards pharmaceutical drugs and surgical consumables,
- The government aims to spend 5 per cent of GDP on health.