Pharmabiz
 

Middle East health sector valued at US $74 bn

DubaiThursday, February 10, 2005, 08:00 Hrs  [IST]

The Middle East's healthcare sector is emerging as one of the fastest-growing and most attractive markets for the world's hospital equipment and services companies, with an estimated value of US $74 billion, according to reports. Riding the wave of this global interest, executives at Arab Health have reported that the 2005 show is expected to be larger by 25 per cent than this year's, with over 500 companies from 34 countries already registered for the event. Re-bookings are already 50% higher than last year, and major country groups have already sold out their space allocation. For the first time ever, Arab Health will occupy all eight halls plus the Sheikh Rashid Hall of the Dubai International Exhibition Centre. Global interest in the region's healthcare sector is being inflated by a number of major medical projects within the Middle East, including Dubai Healthcare City and the International Medical Center (IMC) in Jeddah; an expanding population; and the emergence of countries as potential destinations for healthcare tourism. One of the consequences of this exponential growth has been a growing demand for a wider variety of dedicated medical training programs, to help sustain a sufficiently large pool of physicians and other paramedical staff to meet the needs of the region. Part of the reason for wide-spread interest in Arab Health within the Middle East's medical community, says Hassett, has been its facility to offer accreditation to doctors that participate in the Congresses that run alongside the exhibition. This year, physicians from across the region will be able to earn Continuing Medical Education (CME) following the decision by the American Academy of Continuing Medical Education (AACME) to provide approval for the Congress sessions.

 
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