Healthcare spending in the Middle East and North Africa (MENA) region has observed a significant rise over the past two to three decades. Several factors such as an increase in the elderly population, advancement in technology, increased health awareness, and lifestyle changes have resulted in high healthcare spending.
The MENA region’s pharma market is one of the most developed in the world. Currently, more than 140 companies operate in the region with both multinational and indigenous players. Over the past few years, several international companies have invested heavily in the healthcare segment; some of the global pharmaceutical giants have manufacturing facilities. Similarly, significantly progressed has been registered in higher medical education and research. Countries like UAE, Saudi Arabia, and others are strategically developing their healthcare system into a global medical tourism hub.
As per the estimates, the MENA pharmaceutical market accounts for nearly 2% of the global market. The MENA region encompasses around 22 countries. Among these, Saudi Arabia holds almost 60% market share, followed by UAE. Currently, the UAE is one of the fastest-growing markets, and healthcare spending is expected to reach USD 2.5 billion in 2025 and USD 3.6 billion by 2030. Despite the favorable outcomes in the region’s healthcare system, few challenges hamper the healthcare market to attain full potential growth rate.
In the coming years, the MENA Healthcare market is anticipated to grow. The primary factor includes a rise in health insurance, increasing income levels, a surge in the geriatric population, and the rising prevalence of lifestyle diseases. A high priority by the government and key initiatives by health authorities over the years has remarkably stimulated the Healthcare Market growth, which is expected to continue in the coming years.
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