Strong growth in UAE healthcare sector

Dubai: The UAE's healthcare sector is showing robust growth and is poised to attract more foreign direct investments (FDI) in the near future, the Dubai Chamber of Commerce and Industry said.

In its report released yesterday, the Dubai Chamber said the pharmaceutical market in Dubai alone is expanding, with the exports of pharmaceutical products reaching Dh84.4 million in 2007, compared with Dh56.4 million in 2005.

The value of re-exported pharmaceutical products also grew from Dh179 million to Dh194 million, while imports ballooned from Dh1.2 billion to Dh2.15 billion.

The UAE is home to eight pharmaceutical factories with investments reaching $64.2 million. Leading players in the pharmaceutical manufacturing business include Globalpharma, Gulf Inject and Medpharma, Neopharma, Pharmacare.

Although there are fewer manufacturers in the UAE, the 400 pharmacies around the country have provided consumers with wide access to medical consumables and equipment, the report said.

With regards to hospitals, the Dubai Chamber predicted that the number of hospital beds in Dubai is expected to nearly double last year's capacity, from 2,934 in 2007 to 5,415 in 2010, thanks to the establishment and expansion of nine hospitals in Dubai and nine more at Dubai Healthcare City (DHCC).

According to the June 2007 Dubai Health Provision Report, 69 per cent of the nearly 3,000 hospital beds in Dubai are in public hospitals. As of the 2007 count, Dubai also has more than 6,000 doctors, 1,000 dentists, 7,000 nurses and 1,400 pharmacists.

The Dubai Chamber is also credited with the establishment of DHCC, an ongoing project worth $3 billion, as well as the $400 million Dubai Biotechnology and Research Park (DuBiotech).

DHCC is the world's first healthcare free zone, while DuBiotech features a 300-hectare biotech science park that attracts a mix of biotechnology and pharmaceutical companies active in research and development, scientific discovery, testing, production, storage, sales and distribution.

"The initiatives of establishing DHCC and DuBiotech aligned with global positive healthcare prospects will increase the investment in the sector and attract more FDI to Dubai, giving the growth of the population that is expected to grow by six per cent, the higher per capita income and purchasing power of both locals and expatriates in Dubai," said the Dubai Chamber.